Broadridge’s recurring revenue rises 11% as event-driven revenue and profit fall

Broadridge Financial Solutions reported 11% growth in recurring revenue for its fiscal first quarter, while lower event-driven activity and higher expenses reduced operating income. The quarter ended 30 September 2026; the company released its results on 3 November.[1]

Recurring revenue rose to about $1.083 billion from $977 million, and total revenue increased 5% to roughly $1.669 billion. Event-driven revenue fell by $46 million, or 41%, to $67 million, which the company linked to lower mutual-fund proxy activity.[1]

Operating expenses rose to approximately $1.495 billion from $1.401 billion, exceeding the increase in total revenue. Reported operating income consequently fell about 8%, and adjusted operating income fell about 9%. Both operating margins declined.[1]

The earnings reconciliation also shows a $40.2 million digital-asset loss, compared with a $45.8 million gain a year earlier. That $86 million swing helps explain why reported earnings per share fell much more sharply than operating income. Broadridge excludes those gains and losses from its adjusted earnings measure.[1]

Adjusted net earnings were approximately flat at $177.9 million versus $178.1 million, while a lower diluted share count helped adjusted earnings per share rise 3%. Closed sales increased from $32.5 million to $35.6 million, an increase of about 9.5%, which the company rounds to 10%.[1]

Broadridge reaffirmed fiscal-2027 guidance for 6–8% recurring-revenue growth, 8–12% adjusted earnings-per-share growth and closed sales of $290–330 million. The quarter therefore combines continued growth in contracted revenue with weaker event-driven activity and a large non-operating year-on-year swing; the adjusted and reported results answer different questions.[1]

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