BR · Q4 2026 Earnings

Cautious

Broadridge Financial Solutions

Reported August 4, 2026

30-second summary

Broadridge closed FY26 with Q4 revenue of $2.22B (+7% YoY) and adjusted EPS of $3.82, beating consensus by 2.3% and 1.6% respectively. FY26 closed sales landed at $305M, above the revised $240-290M guide range and +6% YoY — the deferred big deals did convert within FY26, resolving the central bookings question positively. FY26 adjusted EPS of $9.60 grew 12%, at the top of the raised 10-12% guide. The forward setup is more mixed: FY27 closed sales guidance of $290-330M restores the range that was cut mid-FY26, but FY27 recurring revenue growth of 6-8% (constant currency) is a step down from FY26's "at or above 7%" floor, and the ~21% adjusted operating margin guide implies no expansion from FY26's 20.5% delivered. FY26 bookings delivery is the bull read; the FY27 recurring revenue and margin guides are the check on it.

Headline numbers

EPS

Q4 FY2026

$3.82

+1.6% vs est.

Revenue

Q4 FY2026

$2.22B

+7.0% YoY

+2.3% vs est.

Operating margin

Q4 FY2026

24.6%

Key financials

Q4 FY2026

Metric	Q4 FY2026	YoY	Q3 FY2026	QoQ
Revenue	$2.22B	+7.0%	$1.95B	+13.6%
EPS	$3.82	—	$2.72	+40.4%
Operating margin	24.6%	—	18.4%	+620bps

Guidance

Broadridge raised FY2027 EPS growth guidance to 8-12% and closed sales to $290-330M, signaling confidence in deal conversion despite guiding recurring revenue growth slightly lower at 6-8%.

Guidance is issued for the full year only, refreshed each quarter. Prior and new below are the same FY updated this quarter.

Actuals vs prior guidance

Metric	Period	Prior guide	Actual	Δ	Result
Adjusted EPS growth	FY 2026	10-12%	9.6 non-GAAP EPS (FY2026 actual)	In-line with prior guidance range midpoint	Met
Recurring revenue growth (constant currency)	FY 2026	At or above 7%	8% (Q4 FY2026 reported; full-year embedded in reported results)	Above the 7% minimum guidance	Met
Adjusted Operating income margin	FY 2026	20-21%	26.9% (Q4 FY2026 reported)	+5.9-6.9 points above guidance range	Beat
Closed sales	FY 2026	$240-290M	$158M (Q4 FY2026 reported)	-$82-$132M below guidance range	Beat

New guidance

Metric	Period	Guide	YoY
Adjusted EPS growth	FY 2027	8-12%	—
Recurring revenue growth (constant currency)	FY 2027	6-8%	—
Adjusted Operating income margin	FY 2027	~21%	—
Free cash flow conversion	FY 2027	100%+	—
Closed sales	FY 2027	$290-330 million	—

Segment KPIs

Q4 FY2026

Segment	Q4 FY2026	YoY
Investor Communication Solutions	$1.732B	+8.0%
Global Technology and Operations	$0.488B	+5.0%

Other KPIs

Q4 FY2026

Segment	Q4 FY2026
Recurring revenues	$1,542 million
Recurring revenue growth (constant currency)	8%
Closed sales	$158 million
Adjusted Operating income margin	26.9%
Equity revenue position growth	14%
Mutual fund/ETF position growth	7%
Internal Trade Growth	15%
Free cash flow conversion	110%

Answers to last quarter's watch list

Q4 closed sales conversion against the new $240-290M FY range — FY26 closed sales landed at $305M, above the revised $240-290M range and up 6% YoY, with Q4 alone at $158M (+39% vs FY25 Q4 $114M). Thesis resolved positively at both quarterly and full-year level.

Resolved positively

FY27 closed sales guide as the real reveal — FY27 guide of $290-330M restores the full pre-cut range rather than re-basing off the $240-290M FY26 revised guide. Combined with the FY26 actual overshooting the cut range, this is the strongest possible read on the pipeline narrative — management is signaling the FY26 cut was timing, not deterioration.

Resolved positively

Galaxy on-chain proxy voting live execution and follow-on wins — The press release qualitative statements reference "enabling Governance solutions for tokenized assets, reinventing shareholder engagement" but do not disclose Galaxy-specific execution details or follow-on tokenized-issuer mandates. Without the transcript, no quantification is available.

Continue monitoring

Custom policy engine AUM expansion beyond $800B — The company didn't disclose an updated AUM figure for the custom policy engine on the print.

Not resolved

Capital Markets growth recovery as the GTO license headwind anniversaries — GTO segment revenue of $0.488B grew +5% in Q4, matching Q3's +5% rather than accelerating. The pre-flagged rebound implied by +15% internal trade growth did not show through at the segment level.

Resolved negatively

What to watch into next quarter

Q1 FY27 closed sales pacing against the restored $290-330M range — Q1 FY26 opened at $32.5M (10-11% of the FY midpoint) and was flagged as a slow start; FY26 ultimately overshot the cut range at $305M. Watch whether Q1 FY27 opens materially stronger (>$50M) or repeats the back-half-loaded pattern; a repeat would put the restored range under pressure by mid-year even if the FY26 conversion pattern proves repeatable.

Recurring revenue growth trajectory against the lowered 6-8% cc guide — The floor lowered from 7% to 6% is the softening this brief flagged. Watch Q1 FY27 print — anything below 6% cc would suggest the guide midpoint is aspirational rather than conservative.

Adjusted operating margin guide of ~21% vs. FY26 delivery — The FY27 guide implies no margin expansion vs. FY26's 20.5%. Watch Q1 FY27 for whether investment in Agentic AI and tokenization steps up materially, and whether management flags a shape shift in the margin cadence.

Any updated disclosure on Galaxy on-chain proxy execution and tokenized asset revenue run-rate — The $4M super validator print from Q1 FY26 was the last quantified tokenization revenue disclosure. Watch Q1 FY27 for an updated run-rate that either validates or shrinks the "~1 point of capital markets growth" framing.

Capital Markets / GTO segment growth in Q1 FY27 — Two consecutive quarters at +5% is now a trend, not a trough. Watch whether the license headwind fully anniversaries in H1 FY27 or whether the reset base implies a structurally lower GTO growth rate.

Sources

Broadridge Q4 FY26 press release, SEC EDGAR: https://www.sec.gov/Archives/edgar/data/1383312/000138331226000022/ex991earningsrelease4q2026.htm

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