Broadridge Financial Solutions Inc

BR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$958.00	Rljkytx	Glrlsskbh

Broadridge Financial Earnings: Modestly Soft Quarter, but Guidance Solid

Rajiv Bhatia

Aug 8, 2023

Broadridge Financial Solutions reported a mixed end to its fiscal year. Fiscal fourth-quarter revenue of $1.84 billion was shy of the FactSet consensus estimate of $1.87 billion, while adjusted EPS of $3.21 came in 4% higher than the consensus estimate of $3.10. Closed sales also softened because of the selling environment. That said, the market appears happy with the firm’s initial fiscal 2024 outlook, which at the midpoint calls for adjusted EPS of $7.71; this compares favorably with the consensus estimate of $7.53. We will maintain our narrow moat rating and $185 fair value estimate.

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