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FY2026 Q4
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Broadridge Financial Solutions, Inc. earnings call
Buzzberg read
Fiscal 2027 recurring revenue growth guided at 6-8%
Broadridge delivered a strong fiscal 2026 with 8% recurring revenue growth and 12% adjusted EPS growth, exceeding expectations. Management is guiding to another year of 6-8% recurring revenue growth and 8-12% adjusted EPS growth for fiscal 2027, driven by a record $470 million backlog and AI-driven productivity gains. The company is aggressively positioning itself as a leader in tokenized market infrastructure, securing key partnerships and seeing rapid adoption of its DLR platform. Fiscal 2026: recurring revenue +8%, adjusted EPS +12%, closed sales $305M (record Q4 of $158M).
Buzzberg read Fiscal 2027 recurring revenue growth guided at 6-8% Broadridge delivered a strong fiscal 2026 with 8% recurring revenue growth and 12% adjusted EPS growth, exceeding expectations. Management is guiding to another year of 6-8% recurring revenue growth and 8-12% adjusted EPS growth for fiscal 2027, driven by a record $470 million backlog and AI-driven productivity gains. The company is aggressively positioning itself as a leader in tokenized market infrastructure, securing key partnerships and seeing rapid adoption of its DLR platform. Fiscal 2026: recurring revenue +8%, adjusted EPS +12%, closed sales $305M (record Q4 of $158M). Read full analysisCollapse analysis
Broadridge delivered a strong fiscal 2026 with 8% recurring revenue growth and 12% adjusted EPS growth, exceeding expectations. Management is guiding to another year of 6-8% recurring revenue growth and 8-12% adjusted EPS growth for fiscal 2027, driven by a record $470 million backlog and AI-driven productivity gains. The company is aggressively positioning itself as a leader in tokenized market infrastructure, securing key partnerships and seeing rapid adoption of its DLR platform. Fiscal 2026: recurring revenue +8%, adjusted EPS +12%, closed sales $305M (record Q4 of $158M).
- Fiscal 2027 guidance: 6-8% recurring revenue growth, 8-12% adjusted EPS growth, ~21% operating margin.
- Closed sales backlog reached a record $470 million, up $40M YoY, providing strong visibility.
- DLR platform volumes surged to $360 billion in June, up 3x from May 2025, with plans for 50% growth by December.
CLOSED_SALES Revenue$305MReported
EVENT_DRIVEN Revenue$158MReported
RECURRING_REVENUE Revenue growth8%Reported
Revenue$2.2222B+14% QoQ
6 grounded callouts
What matters now
The highest-signal changes from the call.
Demand
Record Q4 closed sales of $158 million
AI
AI-driven productivity savings of $25 million expected in fiscal 2027
Show 3 more callouts
Tokenization
DLR volume up 3x to $360 billion daily
Regulation
SEC eDelivery rule expected to impact margins positively
Demand
Closed sales pipeline up significantly year-over-year
Reported period
Actuals
| Metric | Reported | Change |
|---|---|---|
| CLOSED_SALES Revenue | $305M | Reported |
| EVENT_DRIVEN Revenue | $158M | Reported |
| RECURRING_REVENUE Revenue growth | 8% | Reported |
| Revenue | $2.2222B | +14% QoQ |
| EPS | $3.82 | +40% QoQ |
| Gross margin | 38.38% | Reported |
Forward-looking
Forward guidance
| Metric | Period | Range | Midpoint | Status |
|---|---|---|---|---|
| EPS | FY2027 | 8%–12%In line with consensus | 10% | Maintained |
| Operating margin | FY2027 | 21%In line with consensus | 21% | Maintained |
| RevenueRECURRING_REVENUE | FY2027 | 6%–8%In line with consensus | 7% | Maintained |
| RevenueEVENT_DRIVEN | FY2027 | $250–$300In line with consensus | $275 | Maintained |
| RevenueDISTRIBUTION | FY2027 | 4%–6%In line with consensus | 5% | Maintained |
| RevenueCLOSED_SALES | FY2027 | $290M–$330MIn line with consensus | $310M | Maintained |
AI, capex & demand read
Management read
Upbeat
Management expressed strong confidence in the business model, record sales, and positive outlook on tokenization and AI investments, while guiding to continued growth.
Management AI read
Management emphasized scaling agentic AI across managed services, with new AI products gaining traction, AI-driven productivity savings of $25 million expected in fiscal 2027, and a partnership model offering up to 30% operational cost reduction. They see AI as a key differentiator and are investing heavily in AI capabilities.
all 3 named companies below
Companiesreturns since call
Partners
Partners
Tim Gokey
Galaxy benefits from having the first on-chain voting solution for tokenized equities, which could differentiate its issuance services.
Evidence
“For native issuance, we've completed the first and only on-chain voting for tokenized equities with Galaxy.”
Partners
Tim Gokey
Ondo gains governance infrastructure for its synthetic tokenized products, likely increasing its attractiveness to institutional holders.
Evidence
“We are pleased to announce our relationship with Ondo, The leading issuer of synthetic tokenized U.S. equities and ETFs to provide a market-leading solution to enable holders of synthetic tokens to exercise governance.”
ALPACA
Partners
Tim Gokey
Alpaca's network will gain access to full governance services, enhancing its value proposition as a custody and clearing provider for tokenized assets.
Evidence
“We also signed an agreement with Alpaca, A leading provider of custody, clearing, and other infrastructure services supporting tokenized assets to provide a full suite of governance and shareholder communication services to clients on”
External signals
Supply-chain alpha · 4returns since call
DLR platform repo volumes surged to $360 billion in June, up 3x from May 2025, and are on track for 50% growth by December.
Evidence
“ELR volume rose to $360 billion in June, up 3x from May of 25. We're currently onboarding multiple Tier 1 banks to our platform, and we expect 50% growth by December.”
Digital asset holdings on the balance sheet grew to $265 million, with a recognized $227 million gain in fiscal 2026, indicating significant mark-to-market impacts.
Evidence
“As of June 30th, we hold $265 million in digital assets... During fiscal 26, we recognized a $227 million gain on these holdings, which has been adjusted out of our non-GAAP earnings.”
The SEC's eDelivery rule proposal is expected to be a headwind to recurring revenue growth over a 2-3 year period but is expected to have a positive impact on operating margin due to reduced pass-through distribution revenues.
Evidence
“We anticipate a modest headwind to recurring revenue growth over a two to three year period... which we expect to largely offset with new solutions.”
Closed sales backlog reached a record $470 million, including a significant jump in Q4, indicating robust near-term revenue growth.
Evidence
“Broadridge reported full-year closed sales of 305 million, including 158 million in closed sales in Q4. Our sales results lifted our closed sales backlog to 470 million.”
Methodology & coverage
Management-only analysis. All 3 validated company mentions are shown. Reported actuals and forward guidance are kept separate. Public evidence is limited to eight short attributed quotes. AI-generated analysis can be incomplete or wrong; verify important claims against the original source.