Broadridge Financial Solutions, Inc. (BR) CEO Tim Gokey on Q3 2022 Results - Earnings Call Transcript

Broadridge Financial Solutions, Inc. (NYSE:BR) Q3 2022 Earnings Conference Call May 3, 2022 8:30 AM ET

Company Participants

Edings Thibault - Head of Investor Relations

Tim Gokey - Chief Executive Officer

Edmund Reese - Chief Financial Officer

Conference Call Participants

Michael Young - Truist

Patrick O'Shaughnessy - Raymond James

Puneet Jain - JPMorgan

Chris Donat - Piper Sandler

Operator

Good morning and welcome to the Broadridge Fiscal Third Quarter 2022 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 this event is being recorded.

I would now like to turn the conference over to Edings Thibault, Head of Investor Relations. Please go ahead.

Edings Thibault

Thank you, Kate. Good morning and welcome to Broadridge’s third quarter fiscal year 2022 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. 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 -- in the slides and a more complete description on our annual report on Form 10-K.

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.

Let me now turn the call over to Tim Gokey. Tim?

Tim Gokey

Thanks Edings. Good morning. I'm pleased to be here to discuss our strong results, record sales and outlook for another really good year. I'll start with the highlights for the quarter. First, Broadridge reported another quarter of strong results. Recurring revenues rose 16% and adjusted EPS rose 10%. More importantly, we're entering our seasonally largest quarter with continued momentum, and we are well-positioned to close out another year of strong top and bottom line growth.

Second, our growth continues to be powered by long-term trends. In an uncertain market, we're benefiting from increased investor participation, the need to modernize and digitize financial system technology and the ever-present focus on efficiency. Thanks to our investment in multiyear focus, Broadridge is taking advantage of these trends, and you see that in our growth and in our closed sales. We're also benefiting from strong performance in our acquisition of Itiviti.