Broadridge Financial Solutions Files Q2 FY25 10-Q

Ticker: BR · Form: 10-Q · Filed: 2025-01-31T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, financials, quarterly-report

TL;DR

**BR stock filing:** Q2 FY25 results are in. Check the numbers.

AI Summary

Broadridge Financial Solutions, Inc. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of their fiscal year 2025. Key financial data and operational details for this period are presented.

Why It Matters

This filing provides investors and analysts with the latest financial performance and operational updates for Broadridge, a key player in financial services technology.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

Key Players & Entities

FAQ

What is the reporting period for this 10-Q filing?

The reporting period for this 10-Q filing is the quarter ended December 31, 2024.

When was this 10-Q filed with the SEC?

This 10-Q was filed on January 31, 2025.

What is the company's Central Index Key (CIK)?

The company's Central Index Key (CIK) is 0001383312.

What is the fiscal year end for Broadridge Financial Solutions, Inc.?

The fiscal year end for Broadridge Financial Solutions, Inc. is June 30.

What is the company's primary business address?

The company's primary business address is 5 Dakota Drive, Lake Success, NY 11042.

Filing Stats: 4,443 words · 18 min read · ~15 pages · Grade level 9.4 · Accepted 2025-01-31 11:07:54

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 4

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS 4

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Item 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 31

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Item 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 54

CONTROLS AND PROCEDURES

Item 4. CONTROLS AND PROCEDURES 54

OTHER INFORMATION

PART II. OTHER INFORMATION 55

LEGAL PROCEEDINGS

Item 1. LEGAL PROCEEDINGS 55

RISK FACTORS

Item 1A. RISK FACTORS 55

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

Item 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 55

OTHER INFORMATION

Item 5. OTHER INFORMATION 55

EXHIBITS

Item 6. EXHIBITS 55 Agre 2 Table of Contents NOTE ABOUT FORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q of Broadridge Financial Solutions, Inc. ("Broadridge" or the "Company") may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not historical in nature and which may be identified by the use of words such as "expects," "assumes," "projects," "anticipates," "estimates," "we believe," "could be," "on track," and other words of similar meaning, are forward-looking statements. In particular, information appearing under "Business," "Risk Factors," and "Management's Discussion and Analysis of Financial Condition and Results of Operations" includes forward-looking statements. These statements are based on management's expectations and assumptions and are subject to risks and uncertainties that may cause actual results to differ materially from those expressed. Factors that could cause actual results to differ materially from those contemplated by the forward-looking statements include: changes in laws and regulations affecting Broadridge's clients or the services provided by Broadridge; Broadridge's reliance on a relatively small number of clients, the continued financial health of those clients, and the continued use by such clients of Broadridge's services with favorable pricing terms; a material security breach or cybersecurity attack affecting the information of Broadridge's clients; declines in participation and activity in the securities markets; the failure of Broadridge's key service providers to provide the anticipated levels of service; a disaster or other significant slowdown or failure of Broadridge's systems or error in the performance of Broadridge's services; overall market, economic and geopolitical conditions and their impact on the securities markets; the success of Broadridge in retaining and selling additional services to its existing clie

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

Item 1. FINANCIAL STATEMENTS Broadridge Financial Solutions, Inc. Condensed Consolidated Statements of Earnings (In millions, except per share amounts) (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Revenues (Note 3) $ 1,589.2 $ 1,405.0 $ 3,012.1 $ 2,836.0 Operating expenses: Cost of revenues 1,145.8 1,057.2 2,220.8 2,132.5 Selling, general and administrative expenses 232.8 223.4 446.1 430.8 Total operating expenses 1,378.5 1,280.6 2,667.0 2,563.2 Operating income 210.7 124.4 345.1 272.8 Interest expense, net (Note 5) ( 32.7 ) ( 36.3 ) ( 65.0 ) ( 69.7 ) Other non-operating expenses, net ( 1.9 ) ( 0.4 ) ( 3.8 ) ( 2.6 ) Earnings before income taxes 176.0 87.6 276.3 200.5 Provision for income taxes (Note 14) 33.6 17.4 54.1 39.4 Net earnings $ 142.4 $ 70.3 $ 222.2 $ 161.2 Basic earnings per share $ 1.22 $ 0.60 $ 1.90 $ 1.37 Diluted earnings per share $ 1.20 $ 0.59 $ 1.88 $ 1.35 Weighted-average shares outstanding: Basic (Note 4) 117.1 117.7 117.0 117.8 Diluted (Note 4) 118.3 119.1 118.2 119.1 Amounts may not sum due to rounding. See Notes to Condensed Consolidated Financial Statements. 4 Table of Contents Broadridge Financial Solutions, Inc. Condensed Consolidated Statements of Comprehensive Income (In millions) (Unaudited) Three Months Ended December 31, Six Months Ended December 31, 2024 2023 2024 2023 Net earnings $ 142.4 $ 70.3 $ 222.2 $ 161.2 Other comprehensive income (loss), net: Foreign currency translation adjustments ( 48.8 ) ( 49.3 ) ( 19.9 ) ( 65.8 ) Pension and post-retirement liability adjustment, net of taxes of $( 0.0 ) and $( 0.0 ) for the three months ended December 31, 2024 and 2023, respectively and $( 0.1 ) and $( 0.0 ) for the six months ended December 31, 2024 and 2023, respectively 0.1 0.1 0.2 0.1 Cash flow hedge amortization, net of taxes of $( 0.1 ) and $( 0.1 ) for the three months ended December 31, 2024 and 2023, respectively and $( 0.1 ) and $(

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