Broadridge Financial Solutions, Inc. Q4 FY2024 results: revenue $1.9 billion, up 5.7% on the year

Broadridge Financial Solutions, Inc. (BR) reported revenue of $1.9 billion for Q4 FY2024, the quarter ended 30 June 2024, up 5.7% on the same quarter a year earlier. Net income was $323 million, down 0.3% on the year, and diluted earnings per share $2.72. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2024.

Revenue$1.9 billionup 5.7%

Net income$323 milliondown 0.3%

Diluted EPS$2.72

QuarterQ4 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Revenue	1,944	1,726	n/a	n/a
Cost of revenue	1,253	1,187	n/a	n/a
Gross profit	691	539	n/a	n/a
Gross margin	35.5%	31.2%	n/a
Selling, general and administrative	250	236	n/a	n/a
Operating income	441	303	n/a	n/a
Operating margin	22.7%	17.5%	n/a
Interest expense	35.6	38.2	n/a	n/a
Income tax	87.0	52.9	n/a	n/a
Net income	323	214	n/a	n/a
Net margin	16.6%	12.4%	n/a
Diluted EPS	$2.72	$1.79	n/a	n/a

$ million except per share. Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Operating cash flow	721	207	n/a	n/a
Capital expenditure	17.8	22.8	n/a	n/a
Free cash flow	703	185	n/a	n/a
Free cash flow margin	36.2%	10.7%	n/a
Depreciation and amortisation	30.2	30.5	n/a	n/a
Share-based compensation	13.5	20.2	n/a	n/a
Buybacks	324	0.3	n/a	n/a
Dividends paid	94.3	94.2	n/a	n/a
Dividend per share	n/a	$0.80	n/a	n/a
Diluted shares, weighted	119m	119m	n/a	n/a
Shares outstanding at period end	117m	118m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2024	Q3 FY2024	A year earlier	Change on the year
Total assets	8,242	8,215	n/a	n/a
Cash and equivalents	304	236	n/a	n/a
Inventory	30.5	n/a	n/a	n/a
Goodwill	3,469	3,452	n/a	n/a
Long-term debt	3,355	3,514	n/a	n/a
Operating lease liabilities	184	176	n/a	n/a
Shareholders' equity	2,168	2,267	n/a	n/a

Quarterly results, the last 12 quarters

	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	1,431	1,405	1,726	1,944	1,423	1,589	1,812	2,065	1,589	1,714	1,954	2,220
Cost of revenue	1,075	1,057	1,187	1,253	1,075	1,146	1,236	1,296	1,167	1,240	1,327	1,367
Gross profit	356	348	539	691	348	443	576	770	423	474	627	853
Gross margin	25%	25%	31%	36%	24%	28%	32%	37%	27%	28%	32%	38%
SG&A	207	223	236	250	213	233	231	271	234	268	267	307
Operating income	148	124	303	441	134	211	345	499	189	206	360	546
Operating margin	10%	9%	18%	23%	9%	13%	19%	24%	12%	12%	18%	25%
Interest expense	36.4	40.0	38.2	35.6	35.9	36.6	33.5	29.8	27.9	27.7	27.3	28.9
Net income	90.9	70.3	214	323	79.8	142	243	374	165	285	276	398
Net margin	6%	5%	12%	17%	6%	9%	13%	18%	10%	17%	14%	18%
Diluted EPS	$0.76	$0.59	$1.79	$2.72	$0.68	$1.20	$2.05	$3.17	$1.40	$2.42	$2.36	$3.42
Operating cash flow	-62.0	190	207	721	-126	237	360	700	42.3	325	301	677
Capital expenditure	4.7	12.1	22.8	17.8	7.9	8.8	11.5	15.6	15.2	6.3	13.6	32.1
Free cash flow	-66.7	178	185	703	-133	228	349	684	27.1	318	288	645
Buybacks	161	0.4	0.3	324	0.3	3.6	0.3	131	150	2.0	200	251
Dividends paid	85.6	94.1	94.2	94.3	93.4	103	103	103	103	114	114	113
Shares outstanding	118m	118m	118m	117m	117m	117m	117m	117m	117m	117m	116m	114m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 June 2024, filed 6 August 2024, accession 0001383312-24-000039: the filing on EDGAR. All of Broadridge Financial Solutions, Inc.'s filings: EDGAR company page.

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