Broadridge Financial Solutions, Inc. (BR) Q1 2023 Earnings Call Transcript

Broadridge Financial Solutions, Inc. (NYSE:BR) Q1 2023 Earnings Conference Call November 2, 2022 8:30 AM ET

Company Participants

Edings Thibault - Head, Investor Relations

Tim Gokey - Chief Executive Officer

Edmund Reese - Chief Financial Officer

Conference Call Participants

David Togut - Evercore ISI

Puneet Jain - JPMorgan

Darrin Peller - Wolfe Research

Patrick O’Shaughnessy - Raymond James

Operator

Good day and welcome to the Broadridge First Quarter 2023 Earnings Conference Call. [Operator Instructions] And please note that this event is being recorded. I would now like to turn the conference over to Edings Thibault, Head of Investor Relations. Please go ahead, sir.

Edings Thibault

Thank you, Cole. Good morning, everybody and welcome to Broadridge’s first 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 will 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 their comparable GAAP measures can be found in the earnings release and presentation.

Additionally, on September 26, we filed an 8-K announcing changes to our segment reporting regarding the impact of foreign exchange rates on our business. This change is the final step in aligning our foreign currency reporting with industry standards and is reflected in our first quarter report. From this point forward, our earnings materials were referenced recurring revenue growth percentages on a constant currency basis, both for our results and our forward-looking guidance. Please reference our filings and investor materials for the corresponding reconciliations.

With that out of the way, let me now turn the call over to Tim Gokey. Tim?

Tim Gokey

Edings, thank you very much. Good morning, everyone. I am pleased to be here to discuss our strong start to fiscal ‘23. There is a lot to cover. So I’ll walk through our strong results for the quarter, provide a business overview and then share some thoughts on why Broadridge is well-positioned to drive profitable growth over the balance of fiscal ‘23 and beyond.