Broadridge Financial Solutions, Inc. (BR) Q2 2023 Earnings Call Transcript

Broadridge Financial Solutions, Inc. (NYSE:BR) Q2 2023 Earnings Conference Call February 2, 2023 8:30 AM ET

Company Participants

Edings Thibault - Head of IR

Timothy Gokey - CEO

Edmund Reese - CFO

Conference Call Participants

David Togut - Evercore ISI

Peter Heckmann - D.A. Davidson

Darrin Peller - Wolfe Research

James Faucette - Morgan Stanley

Puneet Jain - JPMorgan

Operator

Good day, and welcome to the Broadridge Fiscal Second Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today’s presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note the event is being recorded.

At this time, I'd like to turn the conference over to Edings Thibault, Head of Investor Relations. Please go ahead.

Edings Thibault

Thank you, Allison, and good morning, everybody and welcome to Broadridge's second quarter fiscal year 2023 earnings call. Our earnings release and the slides that accompany this call may be found on the Investor Relations section of broadridge.com. Joining me on the call this morning are Tim Gokey, our CEO; and our CFO, Edmund Reese.

Before I turn the call over to Tim, a few standard reminders. One, we will be making forward-looking statements on today's call regarding Broadridge that involve risks. A summary of these risks can be found on the second page of the slides and a more complete description on our annual report on Form 10-K.

Two, we'll also be referring to several non-GAAP measures, which we believe provide investors with a more complete understanding of Broadridge's underlying operating results. An explanation of these non-GAAP measures and reconciliations to the comparable GAAP measures can be found in the earnings release and presentation.

With that done, let me now turn the call over to Tim Gokey. Tim?

Timothy Gokey

Thanks, Edings. Good morning, and thank you for joining us. I'm pleased to be here to review our strong second quarter performance. I'll start with a quick summary of our results and key headlines followed by a review of our business. I'll close with some thoughts on why my recent client meetings have given me even more confidence that Broadridge remains well positioned to grow even in an uncertain market.

First, on Slide 3, Broadridge delivered another strong quarter. Recurring revenues rose 8% on a constant currency basis, with strong growth across both our segments. Adjusted EPS rose 11%, driven by the combination of strong growth and disciplined expense management.