Broadridge(BR)2025-01-31 16:07Financial Performance - Revenues for the three months ended December 31, 2024, increased to 1,405.0 million in the same period of 2023[13] - Operating income for the six months ended December 31, 2024, rose to 272.8 million for the same period in 2023, reflecting a 26.5% increase[13] - Net earnings for the three months ended December 31, 2024, were 70.3 million in the same period of 2023[16] - Basic earnings per share for the six months ended December 31, 2024, increased to 1.37 for the same period in 2023, representing a 38.7% growth[13] - Comprehensive income for the six months ended December 31, 2024, was 161.2 million for the same period in 2023, representing a year-over-year increase of approximately 37.9%[36] - Earnings before income taxes for the total company reached 87.6 million in Q4 2023, indicating a significant increase of about 100.5%[133] - Earnings before income taxes for the six months ended December 31, 2024, increased by 270.6 million, driven by higher recurring and event-driven revenues[199] Revenue Breakdown - Recurring revenues for the six months ended December 31, 2024, reached 1,770.0 million in 2023, indicating an increase of 6.2%[60] - Investor Communication Solutions segment revenues totaled 999.5 million in 2023, reflecting a growth of 15%[60] - Global Technology and Operations segment revenues increased to 405.4 million in 2023, marking an increase of 8.5%[60] - Distribution revenues for the three months ended December 31, 2024, were 450.9 million in 2023, showing an increase of 7.5%[60] - Event-driven revenues for the three months ended December 31, 2024, were 55.2 million in 2023, representing a growth of 126.5%[60] - Recurring revenues increased by 1,880.5 million for the six months ended December 31, 2024, driven by organic growth in ICS and GTO and acquisitions in GTO[189] Assets and Liabilities - Total assets as of December 31, 2024, were 8,242.4 million as of June 30, 2024[20] - Long-term debt increased to 3,355.1 million as of June 30, 2024[20] - Total stockholders' equity increased to 2,206.4 million as of September 30, 2024, reflecting a growth of approximately 1.0%[27] - Total payables and accrued expenses decreased from 888.6 million on December 31, 2024, representing a reduction of approximately 25.6%[87] - Deferred client conversion and start-up costs totaled 892.1 million as of June 30, 2024[82] Cash Flow and Investments - Cash and cash equivalents decreased to 304.4 million at the beginning of the period[23] - Net cash flows from operating activities for the six months ended December 31, 2024, were 127.8 million for the same period in 2023[23] - The company reported a net cash outflow from investing activities of 36.4 million for the same period in 2023[23] - Debt proceeds for the six months ended December 31, 2024, amounted to 622.7 million in the same period of 2023[23] Acquisitions and Investments - The Company acquired Kyndryl's Securities Industry Services business for an aggregate purchase price of 38.3 million allocated to goodwill and 34.3 million in cash, with additional contingent consideration of up to 21.8 million for the three months ended December 31, 2024, compared to 5.0 million in excess of established reserves[121] - The Company has ongoing discussions with the Canadian Competition Bureau regarding its acquisitions[72] Operational Metrics - The company operates in two segments: Investor Communication Solutions and Global Technology and Operations, focusing on technology-driven solutions for financial markets[38] - Broadridge's technology solutions support the entire trade lifecycle, processing clearance and settlement in over 100 countries, enhancing operational efficiency for clients[41] - The Company’s financial performance is evaluated using key performance indicators such as Revenue, Recurring Revenue, Adjusted Operating Income, and Free Cash Flow[154][156]