NEW YORK, Dec. 10, 2020 /PRNewswire/ -- Broadridge
Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, is
hosting its virtual 2020 Investor Day at 8:00 AM EST today.
"We are excited to highlight the Broadridge growth story at our
2020 Investor Day," said Tim Gokey,
Broadridge's Chief Executive Officer. "Broadridge is continuing to
scale its position as a leading global Fintech for governance and
investing. We intend to build on our leadership across
governance, capital markets and wealth management to drive more
value for our clients and deliver top quartile shareholder returns
to our owners."
As part of its 2020 Investor Day, Broadridge announced its new
three-year growth objectives for the period ending Fiscal Year
2023. The growth objectives are shown as compound annual growth
rates ("CAGRs") for the fiscal years 2020-2023.
|
FY2020 – FY2023
Objectives
|
Organic Recurring
revenue growth
|
5 – 7%
|
Recurring revenue
growth
|
7 – 9%
|
Adjusted Operating
Income Margin (bps/year) (Non-GAAP)
|
50+
|
Adjusted Earnings per
share growth (Non-GAAP)
|
8 – 12%
|
Broadridge also reaffirmed its Fiscal Year 2021 guidance
provided on its fiscal first quarter 2021 conference call on
October 30, 2020, including for
Recurring revenue growth of 3-6% and Adjusted EPS growth of
6-10%.
To view the virtual event and access the slide presentation,
visit Broadridge's Investor Relations website at
www.broadridge-ir.com prior to the start of the
event.
Forward-Looking Statements
This press release and
other written or oral statements made from time to time by
representatives of Broadridge may contain "forward-looking
statements" within the meaning of the Private Securities Litigation
Reform Act of 1995. Statements that are not historical in nature,
and which may be identified by the use of words such as "expects,"
"assumes," "projects," "anticipates," "estimates," "we believe,"
"could be" and other words of similar meaning, are forward-looking
statements. These statements are based on management's expectations
and assumptions and are subject to risks and uncertainties that may
cause actual results to differ materially from those expressed.
These risks and uncertainties include those risk factors described
and discussed in Part I, "Item 1A. Risk Factors" of our Annual
Report on Form 10-K for the year ended June
30, 2020 (the "2020 Annual Report"), as they may be updated
in any future reports filed with the Securities and Exchange
Commission. All forward-looking statements speak only as of the
date of this press release and are expressly qualified in their
entirety by reference to the factors discussed in the 2020 Annual
Report. Broadridge disclaims any obligation to update or revise
forward-looking statements that may be made to reflect events or
circumstances that arise after the date made or to reflect the
occurrence of unanticipated events, other than as required by
law.
Explanation and Reconciliation of the Company's Use of
Non-GAAP Financial Measures
The Company's results in this press release and related materials
are presented in accordance with U.S. generally accepted accounting
principles ("GAAP") except where otherwise noted. In certain
circumstances, results have been presented that are not generally
accepted accounting principles measures ("Non-GAAP"). These
Non-GAAP measures are Adjusted Operating income, Adjusted Operating
income margin, Adjusted Net earnings, Adjusted earnings per share,
and Free cash flow. These Non-GAAP financial measures should be
viewed in addition to, and not as a substitute for, the Company's
reported results.
The Company believes our Non-GAAP financial measures help
investors understand how management plans, measures and evaluates
the Company's business performance. Management believes that
Non-GAAP measures provide consistency in its financial reporting
and facilitates investors' understanding of the Company's operating
results and trends by providing an additional basis for comparison.
Management uses these Non-GAAP financial measures to, among other
things, evaluate our ongoing operations, and for internal planning
and forecasting purposes. In addition, and as a consequence of the
importance of these Non-GAAP financial measures in managing our
business, the Company's Compensation Committee of the Board of
Directors incorporates Non-GAAP financial measures in the
evaluation process for determining management compensation.
For additional information regarding the Company's use of
Non-GAAP financial measures and the reconciliation of the Company's
Non-GAAP measures to the most directly comparable financial
measures presented in accordance with GAAP, please see the tables
that are part of the Company's Investor Day presentations posted on
Broadridge's Investor Relations website at
www.broadridge-ir.com and are also included as Exhibit 99.2
to the Company's Form 8-K dated December 10,
2020.
About Broadridge
Broadridge Financial Solutions, Inc.
(NYSE: BR), a $4.5 billion global Fintech leader, is a
leading provider of investor communications and technology-driven
solutions to banks, broker-dealers, asset and wealth managers and
corporate issuers. Broadridge's infrastructure underpins proxy
voting services for over 50 percent of public companies and mutual
funds globally, and processes on average U.S. $10 trillion in fixed income and equity
securities trades per day. Broadridge is part of the S&P 500®
Index and employs over 12,000 associates in 17 countries. For more
information about Broadridge, please
visit www.broadridge.com.
Investors:
W. Edings Thibault
Investor Relations
+1 516-472-5129
Media:
Gregg Rosenberg
Corporate Communications
+1 212-918-6966
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SOURCE Broadridge Financial Solutions, Inc.