The following is a summary of the Broadridge Financial Solutions, Inc. (BR) Q3 2024 Earnings Call Transcript:

Financial Performance:

• Broadridge saw a 4% increase in recurring revenue and 9% uptick in adjusted EPS growth for Q3 2024, with expectations to maintain recurring revenue growth between 6-9% for fiscal 2024.

• Free cash flow conversion for Q3 '24 was notably high at 108%, while the full year is expected to reach 100%.

• Significant closed sales were observed in Q3 with a 29% increase from the previous year.

• Despite a restructuring initiative, the company maintained an adjusted operating income margin increase of 40 basis points to 21.4%.

• Broadridge has returned $424 million in capital to shareholders through dividends and share buybacks, with additional repurchases expected in Q4.

Business Progress:

• The company continues to leverage long-term trends, focusing on the democratization of investing.

• Efforts to expand the company's reach have included launching new capabilities in capital markets and growing wealth across North America.

• Significant investments of $109 million have been made in technology and client conversions.

• Keeping a close eye on expense management, Broadridge is keen to foster organic growth.

• They remain on course to finalize a strategic restructuring initiative started in Q4 '23 by the end of the fiscal year.

More details: Broadridge Financial Solutions IR

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