Broadridge said recurring revenues for the 3 months ended December 31, 2024 increased $81.3 million (9%) to $980.2 million, event-driven revenues increased $69.3 million (126%), and distribution revenues increased $33.6 million (7%).

10-QQuarterly reportFiled Jan 31, 2025Period of report Dec 31, 2024Summary published (UTC) Oct 11, 2026

Key points

AI summary

Broadridge said recurring revenues for the 3 months ended December 31, 2024 increased $81.3 million (9%) to $980.2 million, event-driven revenues increased $69.3 million (126%), and distribution revenues increased $33.6 million (7%).
The company said total operating expenses for the 3 months increased $97.9 million (8%) to $1,378.5 million from $1,280.6 million in the prior-year period. It cited the postage rate increase of approximately $30 million in the ICS segment and costs related to the SIS acquisition as factors in the increase in cost of revenues.
Broadridge acquired Kyndryl's Securities Industry Services (SIS) business on November 1, 2024 and included it in the GTO segment. For the 3 months, GTO revenues were $440.0 million and earnings before income taxes were $49.7 million. The company said SIS acquisition contributed 4pts to recurring revenue growth constant currency of 8%.
The company said operating cash flow for the 6 months ended December 31, 2024 decreased $16.6 million compared to the prior-year period, investment cash flow decreased $214.0 million due to acquisitions of $193.5 million, and financing cash flow increased $193.9 million.

Key figures

Quarter ended December 31, 2024

Revenue: $1.6B
Operating income: $211M
Net income: $142M
EPS: $1.20

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Quarterly revenue growth by component

Broadridge said recurring revenues for the 3 months ended December 31, 2024 increased $81.3 million (9%) to $980.2 million, event-driven revenues increased $69.3 million (126%), and distribution revenues increased $33.6 million (7%).

Source · Based on the MD&A text of the filing

Quarterly operating expenses and postage rate increase

The company said total operating expenses for the 3 months increased $97.9 million (8%) to $1,378.5 million from $1,280.6 million in the prior-year period. It cited the postage rate increase of approximately $30 million in the ICS segment and costs related to the SIS acquisition as factors in the increase in cost of revenues.

Source · Based on the MD&A text of the filing

SIS acquisition and GTO segment results

Broadridge acquired Kyndryl's Securities Industry Services (SIS) business on November 1, 2024 and included it in the GTO segment. For the 3 months, GTO revenues were $440.0 million and earnings before income taxes were $49.7 million. The company said SIS acquisition contributed 4pts to recurring revenue growth constant currency of 8%.

Source · Based on the MD&A text of the filing

6-month cash flow changes

The company said operating cash flow for the 6 months ended December 31, 2024 decreased $16.6 million compared to the prior-year period, investment cash flow decreased $214.0 million due to acquisitions of $193.5 million, and financing cash flow increased $193.9 million.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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