Broadridge Financial Solutions, Inc. has recently released its 10-K report, offering a detailed look into the company's financial performance and operations. Broadridge Financial Solutions is a provider of investor communications and technology-driven solutions for the financial services industry. The company's Investor Communication Solutions segment processes and distributes proxy materials to investors in equity securities and mutual funds, as well as facilitates related vote processing services. It also offers a range of data-driven solutions, SEC filing, and capital markets transaction services. Meanwhile, its Global Technology and Operations segment provides solutions that automate the front-to-back transaction lifecycle of various financial instruments, order capture and execution, trade confirmation, and more.
The "Management’s Discussion and Analysis of Financial Condition and Results of Operations" section of the 2023 Annual Report provides key insights into the company's financial performance. Notably, the report highlights the various components impacting the financials, including amortization of acquired intangibles and purchased intellectual property, acquisition and integration costs, restructuring and other related costs, litigation settlement charges, Russia-related exit costs, net new business, internal growth, and recurring revenue growth presented on a constant currency basis. The report also delves into the breakdown of revenues, distinguishing between recurring revenues, event-driven revenues, and distribution revenues.
In terms of financial performance, the 10-K report reveals that for the fiscal year 2024, Broadridge Financial Solutions reported revenues of $6,506.8 million, marking a 7% increase from the previous fiscal year. Recurring revenues increased by 6% to $4,222.6 million, while event-driven revenues surged by 35% to $285.2 million. The report also details the breakdown of operating expenses, interest expense, and other non-operating expenses, providing a comprehensive view of the company's financials.
The report also provides a detailed analysis of Broadridge's two reportable segments, Investor Communication Solutions and Global Technology and Operations. For the fiscal year 2024, Investor Communication Solutions reported revenues of $4,857.9 million, a 7% increase from the previous year, with earnings before income taxes increasing by 17%. Meanwhile, Global Technology and Operations reported revenues of $1,648.9 million, an 8% increase, with earnings before income taxes decreasing by 6%.
The market has reacted to these announcements by moving the company's shares 5.9% to a price of $220.73. For the full picture, make sure to review Broadridge Financial Solutions's 10-K report.
