Track market-moving stories before they get noisy

, /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE:BR) is scheduled to release its financial results for the fourth quarter and fiscal year 2026 on Tuesday, August 4, 2026. Broadridge will host a webcast and conference call to discuss those results at 8:30 a.m. ET on August 4, 2026. Tim Gokey, Chief Executive Officer, and Ashima Ghei, Chief Financial Officer, will participate on the call.

To listen to the live event and access the slide presentation, visit Broadridge's Investor Relations website at www.broadridge-ir.com prior to the start of the webcast. To listen to the call, investors may also dial 1-877-328-2502 within the United States and international callers may dial 1-412-317-5419.

A replay of the webcast will be available and can be accessed in the same manner as the live webcast at the Broadridge Investor Relations website. A recording of the call will be available through August 11, 2026 by dialing 1-855-669-9658 within the United States or 1-412-317-0088 for international callers, using passcode 1307113 for either dial-in number.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $15 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information, please visit www.broadridge.com. 

Investor Relations
[email protected]

Media Relations
[email protected] 

SOURCE Broadridge Financial Solutions, Inc.

Broadridge enables proxy voting, investor communications, and voting entitlement reconciliation across Alpaca's platform

, /PRNewswire/ -- Alpaca, a global leader in agent-first brokerage infrastructure, and global Fintech leader, Broadridge Financial Solutions Inc., (NYSE: BR), today announced the integration of Broadridge's governance infrastructure for retail and institutional investors into Alpaca's Instant Tokenization Network. The partnership brings shareholder governance capabilities including proxy voting, investor communications, voting entitlement reconciliation, and regulatory disclosures across traditional and tokenized equities, helping investors retain the rights, transparency, and protections they expect in traditional capital markets.

"Tokenization has the potential to expand access to global capital markets, but it must preserve the investor protections that market participants already expect," said Yoshi Yokokawa, Co-Founder and CEO of Alpaca. "Through our partnership with Broadridge, we're combining modern tokenization infrastructure with trusted governance capabilities, enabling our partners to build tokenized investment products without compromising shareholder rights, regulatory compliance, or investor transparency."

"Today's announcement marks an important step forward in our goal of enabling the adoption of tokenized equities by ensuring that they are paired with institutional-grade governance capabilities regardless of where they are held or tokenized," said Doug DeSchutter, President of Broadridge's Investor Communication Solutions business. "For decades, Broadridge has invested in the platform that powers investor communications and shareholder engagement for more than 200 million retail and institutional investor accounts globally. We're now bringing those same capabilities to tokenized equities—enabling accurate voting, specialized investor experiences, and regulatory disclosures."

Alpaca will continue to provide the regulated brokerage infrastructure that supports the tokenization of equities, including custody and clearing services of the underlying asset. Broadridge complements the infrastructure with shareholder governance services, including proxy voting, investor communications, regulatory disclosures, and voting entitlement reconciliation. Together, the companies enable traditional and tokenized equities to support the ownership rights, transparency, and operational integrity expected in traditional markets.

As tokenized assets are issued and held across multiple blockchain networks and intermediaries, maintaining accurate shareholder records and voting entitlements becomes increasingly complex. Broadridge's governance platform supports voting delivery and entitlement reconciliation for beneficial and registered holders of tokenized equities, ensuring investors receive required communications and can exercise their shareholder rights regardless of how their assets are held.

Key benefits include:

Institutional-grade proxy voting and shareholder communications for retail and institutional investors globally Consistent and transparent governance capabilities for tokenized and traditional equities Single platform for voting and regulatory disclosures for registered and beneficial holders A unified operational view for brokers, custodians, corporate issuers, and funds Institutional investors can integrate voting for tokenized equities into existing governance workflows and reporting, including voting choice programs, while retail investors can access eligible meetings through ProxyVote.com. The solution is supported by governance capabilities with the highest standards for auditability, accountability, and investor protection and designed to support compliance with applicable U.S. regulatory guidelines.

About Alpaca

Alpaca is a US-headquartered, self-clearing broker-dealer providing global agent-first brokerage infrastructure that powers access to traditional and on-chain asset classes. Today, Alpaca supports over 10 million brokerage accounts across hundreds of fintechs and institutions in more than 40 countries, backed by $400 million in funding. For more information, visit alpaca.markets.

About Broadridge's Tokenization Solutions

Broadridge enables on-chain proxy voting and governance, digital asset infrastructure including post trade, wallets and custody, and the scaling of digital asset capabilities across multiple asset classes. Broadridge's governance platform serves all models of tokenized securities, including issuer-listed models, synthetic securities issued outside the United States, and third-party tokenized shares within the Unted States, helping ensure investors receive the same rights and protections regardless of how assets are structured or owned.

Broadridge's Distributed Ledger Repo (DLR) solution is the world's largest institutional platform for settling tokenized real assets, tokenizing approximately over $357 billion a day. As tokenization gains momentum across financial services, Broadridge is meeting the complexity of operating across traditional and digital ecosystems with established scale, critical market knowledge, and technological expertise.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences. 

Our technology and operations platforms process and generate over 7 billion communications per year and underpin the daily trading of more than $15 trillion of securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com.

Broadridge Contacts:

Investors:
[email protected]

Media:
[email protected]

SOURCE Broadridge Financial Solutions, Inc.

Key Takeaways Broadridge Financial's recurring revenues made up nearly 66% of total revenues in fiscal Q3 2026.BR is seeing growth in investor communications, equity positions and governance recurring revenues.BR expects the CQG acquisition and post-trade demand to strengthen institutional trading capabilities. Shares of Broadridge Financial Solutions, Inc. (BR - Free Report) have had a decent run over the past month. The stock has risen 5.7% compared with the industry’s 7.6% growth. The Zacks S&P 500 composite barely moved during the said time frame.

BR’s fourth-quarter fiscal 2026 earnings are expected to be up 5.6% year over year. Earnings for fiscal 2026 and 2027 are projected to rise 11.7% and 9.7% year over year, respectively. Revenues are expected to increase 7.7% in fiscal 2026 and 4.5% in fiscal 2027.

Factors That Bode Well for BRBroadridge Financial, a provider of investor communications and technology-driven solutions to banks, broker-dealers, asset managers and corporate issuers, benefits from a strong business model, backed by higher recurring fee revenues. A major portion of the total revenues is derived from recurring fees, driven by new client growth, internal expansion and acquisitions. During the third quarter of fiscal 2026, recurring revenues accounted for nearly 66% of total revenues. Management expects at least 7% recurring revenue growth on a constant-currency basis for fiscal 2026.

BR’s Investor Communication Solutions is also experiencing growth, aided by strong investor participation and continued growth in equity and mutual fund positions. The company reported that its Governance recurring revenues increased 8% year over year in the third quarter of fiscal 2026. Total equity position growth reached 15%, while revenue-generating equity positions increased 11% during the said time frame.

The Global Technology and Operations segment continues to perform well for the company. Strong demand for BR’s post-trade processing solutions and the recent acquisition of CQG, a leading provider of futures and options trading technology, are expected to boost Broadridge's institutional trading capabilities by adding execution management, algorithmic trading and market connectivity solutions.

The company has demonstrated a strong commitment to its shareholders through consistent dividend payments, despite the fluctuations in its cash position. BR paid dividends of $331 million, $368.2 million and $402.3 million in fiscal 2023, 2024 and 2025, respectively. This consistency underscores its dedication to creating long-term value for investors.

Risks to WatchGlobal service providers operate in a fiercely competitive landscape. BR faces stiff competition from DST Systems Inc., investor communication and corporate governance solutions firms, brokerage firms and transfer agents across segments. This competition fuels innovation across the industry while driving pricing pressures. Ongoing technology investments increase the challenge of maintaining profitability while competing for growth.

BR is heavily exposed to the securities industry (including brokerages and asset managers). Any significant market downturn will negatively impact both the industry and the company's financial health.

BR had a current ratio of 0.94 at the end of the third quarter of fiscal 2026, lower than the industry's average of 1.9. A current ratio below 1 often suggests that a company may not be well positioned to meet its short-term obligations.

Broadridge Financial currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Stocks to ConsiderA couple of better-ranked stocks in the Internet-Software industry are HubSpot, Inc. (HUBS - Free Report) and GitLab Inc. (GTLB - Free Report) .

HubSpot, Inc. sports a Zacks Rank #1 at present. It has a long-term earnings growth expectation of 20.8%. HUBS delivered a trailing four-quarter earnings surprise of 5%, on average.

GitLab also flaunts a Zacks Rank of 1 at present. It has a long-term earnings growth expectation of 5.8%. GTLB beat on earnings in each of the trailing four quarters, delivering an average surprise of 30.1%.

June 2026 ADV reaches $357 billion;
DLR market data now available to Bloomberg Terminal subscribers

, /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), global Fintech leader, today announced that its Distributed Ledger Repo (DLR) processed an average of $357 billion in daily repo transactions during June, with volumes totaling $7.5 trillion. The daily average is a 68% increase year-over-year, reflecting the continued evolution of tokenized market infrastructure and the expanding role of distributed ledger technology in modernizing funding and collateral markets.

"With DLR, we're seeing tokenized finance move into a new phase of maturity," said Horacio Barakat, Global Head of Digital Innovation at Broadridge. "Institutions are moving beyond evaluating distributed ledger technology. They're incorporating it into their day-to-day market activity. That shift reflects growing confidence that tokenized settlement can support the scale, resiliency and performance required by today's capital markets."

DLR enables firms to settle repo transactions using distributed ledger technology while operating within existing trading and post-trade workflows. By facilitating the efficient movement of tokenized securities, the platform helps firms improve capital utilization, increase funding flexibility and streamline collateral management while integrating seamlessly into established market infrastructure.

Building on DLR's continued growth, Broadridge is now making aggregated market data from DLR available to Bloomberg Terminal subscribers through a collaboration with Kaiko. The offering provides access to DLR repo par value, turnover and trade count alongside existing fixed income data, giving subscribers greater visibility into institutional onchain repo activity through one of the financial industry's most widely used market data platforms.

DLR is a cornerstone of Broadridge's broader tokenization strategy, supporting the issuance, trading, financing, settlement and servicing of tokenized securities across multiple asset classes. As part of its recently announced integrated infrastructure for tokenized securities, Broadridge continues to expand DLR's capabilities while helping financial institutions operate seamlessly across traditional and tokenized markets. To learn more about DLR, the world's largest institutional platform for settling tokenized real assets, visit Broadridge's DLR.

About Broadridge's Tokenization Solutions

Broadridge enables on-chain proxy voting and governance, digital asset infrastructure including post trade, wallets and custody, and the scaling of digital asset capabilities across multiple asset classes. Through these innovations, Broadridge is helping financial institutions unlock the next era of digital assets investing.

Broadridge's Distributed Ledger Repo (DLR) solution is the world's largest institutional platform for settling tokenized real assets, tokenizing $357 billion a day. As tokenization gains momentum across financial services, Broadridge is meeting the complexity of operating across traditional and digital ecosystems with established scale, critical market knowledge, and technological expertise.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors:
[email protected]           

Media:
[email protected]

SOURCE Broadridge Financial Solutions, Inc.

, /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR) today announced that Mark Nichols has joined the company as Co-President, Digital Assets, a move that reinforces Broadridge's ongoing commitment to modernize financial market infrastructure and expand its digital asset capabilities. In his role, Nichols will spearhead Broadridge's strategy, product development, and execution across the tokenization and digital asset arena, along with Co-President German Soto Sanchez.

Broadridge Names Mark Nichols Co-President of Digital Assets "Digital assets are a critical part of the next generation of market infrastructure, and Broadridge is delivering a suite of solutions that support clients and investors in the trading and on-chain governance of tokenized securities with institutional grade scalability, accuracy, compliance, and workflows," said Tim Gokey, CEO of Broadridge. "Mark's combination of strategic vision, market infrastructure expertise, and deep knowledge of tokenization will help us accelerate those efforts and support the adoption of tokenized securities."

Nichols joins Broadridge from Ernst & Young US LLP, where as a Partner, he co-led EY's digital asset consulting business and led its market infrastructure consulting practice. Earlier in his career, he led product across FCM, collateral, and funding within Deutsche Bank's fixed income business.

"Broadridge is uniquely positioned to help shape how digital assets are integrated into the financial system at scale given the important role it plays in supporting trading and governance," said Mark Nichols, Co-President, Digital Assets at Broadridge. "I'm excited to help deliver innovative solutions that will better enable clients to scale and adapt to the future of on-chain finance and tokenization."

About Broadridge's Tokenization Solutions

Broadridge enables on-chain proxy voting and governance, digital asset infrastructure including post trade, wallets and custody, and the scaling of digital asset capabilities across multiple asset classes. Through these innovations, Broadridge is helping financial institutions unlock the next era of digital assets investing.

Broadridge's Distributed Ledger Repo (DLR) solution is the world's largest institutional platform for settling tokenized real assets, tokenizing approximately over $365 billion a day. As tokenization gains momentum across financial services, Broadridge is meeting the complexity of operating across traditional and digital ecosystems with established scale, critical market knowledge, and technological expertise

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors: 
[email protected]  

Media:
[email protected] 

SOURCE Broadridge Financial Solutions, Inc.

Broadridge-backed LTX integrates real-time, actionable agentic AI directly into daily fixed income trading workflows

, /PRNewswire/ -- LTX, an AI-powered corporate bond e-trading venue backed by global Fintech leader, Broadridge Financial Solutions, Inc. (NYSE:BR), today announced the launch of new agentic capabilities in its award-winning BondGPT application that enable users to create AI agents that advance investing and trading workflows on the LTX trading platform. Agentic capabilities include monitoring real-time market conditions, surfacing opportunities, and taking other predefined actions such as creating a trade ticket or launching a trade on their behalf.

"Agentic BondGPT brings practical, trader-controlled AI into fixed income investing and trading workflows by helping market participants define what matters, monitor the market continuously, and respond faster when the conditions they are looking for appear," said Jim Kwiatkowski, CEO of LTX. "When we launched BondGPT, our goal was to make it easier and faster for traders to discover information and uncover opportunities. Agentic AI capabilities in BondGPT present the next step in that journey, enabling traders to delegate tasks and move more seamlessly from discovery and analysis to implementation and execution."

Beyond receiving fast answers to complex bond-related questions, BondGPT users can now easily create agents using simple instructions that can take trading workflow actions when user-defined market conditions take place. BondGPT agents can generate automated alerts, create trade tickets, make dealer selections, launch RFQs, accept prices to automatically execute, and other workflow tasks, all under trader-defined parameters and human oversight. BondGPT's agentic AI-powered capabilities are designed to help users safely delegate select tasks while keeping the trader in control. Guardrails include human-in-the-loop approvals, policy-driven limits on trade size and scope, built-in explainability before all actions, and full auditability of all actions.

The launch comes amid continued growth across the LTX platform, with Goldman Sachs, J.P. Morgan, TD Securities (through its subsidiary, TD Financial Products LLC), Morgan Stanley, and Bank of America recently joining as fully integrated liquidity providers. Together with more than 40 liquidity providers and 100 buy-side institutions on the platform, the expansion underscores growing industry adoption of LTX's AI-powered trading ecosystem. 

The launch marks the latest milestone in LTX's AI innovation roadmap. Following the launch of BondGPT in 2023, the first generative AI application built specifically for corporate bond trading, LTX has continued to expand its AI-powered functionality. Based on client input and technological developments over the last three years, BondGPT is designed to better help market participants navigate increasingly complex and fragmented markets. LTX's leadership in this space has already been recognized externally, with the platform winning the Markets Media Markets Choice Award for Best in AI for the last four consecutive years.

For more information, please visit www.ltxtrading.com/bondgpt.

About LTX
LTX is an electronic trading platform that enables corporate bond market participants to trade smarter, combining powerful, patented artificial intelligence with innovative e-trading protocols to improve liquidity, efficiency, and execution. The Liquidity Cloud is LTX's secure network of actionable disclosed sell-side axes and anonymous buy-side indications of interest (IOIs). BondGPT is LTX's award-winning genAI application for the corporate bond market that answers complex bond-related questions in seconds based on the aggregation of curated, trusted data and analytical models. LTX leverages Broadridge Business Process Outsourcing, LLC as its broker dealer.

For more information about LTX, please visit www.ltxtrading.com.

About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors:
[email protected]

Media:
[email protected] 

SOURCE Broadridge Financial Solutions, Inc.

New lending and liquidity tools for Independent Financial Advisory firms to compete with wirehouses and private banks

NEW YORK--(BUSINESS WIRE)--Fispoke Inc., a private banking and lending platform built for the independent wealth market, today announced a strategic collaboration with Broadridge Financial Solutions, Inc. (NYSE: BR) to expand access to lending and private banking capabilities for RIAs, independent advisors, broker-dealers, and wealth platforms. By combining Broadridge's securities-based lending infrastructure with Fispoke's advisor-facing digital experience and distribution across the independent channel, the collaboration will help wealth firms deliver integrated lending and liquidity solutions traditionally concentrated within wirehouses and private banks.

"Private banking capabilities are no longer limited to the largest financial institutions."

Share Demand for integrated lending solutions continues to grow as advisors seek to help clients access liquidity without disrupting long-term investment strategies. Many independent firms remain limited by fragmented referral models or the burden of building lending capabilities in-house. The partnership addresses this by embedding lending within a broader private banking experience that fits existing advisor workflows — without requiring a change in custodian — connecting investments, cash, and credit within a single client experience. Clients will access these capabilities through Fispoke’s white-labeled platform, powered by Broadridge’s lending infrastructure.

The collaboration also creates a strong foundation for continued innovation in areas such as AI and tokenization. AI has the potential to help advisors better identify client liquidity needs and simplify lending workflows, while tokenization is expected to enable greater efficiency and connectivity across assets, cash, and credit solutions over time.

About Fispoke

Fispoke is redefining private banking for the independent wealth management industry. Built for RIAs, broker-dealers, and wealth platforms, Fispoke delivers integrated infrastructure for cash management, credit, and lending — enabling advisors to offer institutional-quality banking services under their own brand without added complexity, fees, or balance sheet risk.

visit www.fispoke.com.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. Broadridge processes over 7 billion communications annually and underpins the daily average trading of over $15 trillion in securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500®, employing over 15,000 associates in 21 countries.

visit www.broadridge.com.

© 2026 Fispoke All Rights Reserved.

Broadridge Financial Solutions, Inc. (BR) Presents at 21st Annual Needham Technology, Media, & Consumer Conference Transcript

Elevated view of students writing their GCSE exam

getty

As Ben Hogan said:

“Golf is not a game of good shots. It’s a game of bad shots.”

Just one bad stock can ruin your portfolio, and that fact is precisely why doing proper diligence is so important.

Why Is Diligence Hard to Find?Very few investors perform proper diligence. Here’s why:

It requires lots of hard work, such as reading thousands of pages of financial filings, particularly the footnotes.It is not exciting. How often do your hear Jim Cramer say “Diligence, diligence, diligence” like he cheers ”buy, buy, buy”?It does not help sell more IPOs, especially the bad ones where bankers don’t want investors to know the truth about earnings. For example, Sweetgreen (SG), Rivian (RIVN), Gitlab (GTLB), Allbirds (BIRD), Peloton (PTON), and more.Where To Get Diligence?Start with Core Earnings and the Bloomberg New Constructs Core Earnings Leaders Index (BCORET:IND). This index holds stocks where deep diligence reveals businesses that are more profitable than the market realizes, i.e. Core Earnings are higher than reported net income.

How To Avoid Bad Stocks?Most importantly, the index avoids companies that are less profitable than the market realizes, i.e. Core Earnings are lower than reported net income.

MORE FOR YOU

Below I detail two companies that were recently dropped from the index because their Core Earnings no longer exceed reported net income.

The Boeing Company (BA): Overstated EarningsMy firm’s Robo-Analyst AI parsed Boeing’s (BA) 2025 10-K and found billions in non-operating income that artificially inflate GAAP earnings. As a result, Boeing’s 2025 Core Earnings are much lower than the company’s reported earnings.

Boeing’s Core Earnings improved from -$7.4 billion in 2024 to -$2.6 billion in 2025. However, GAAP earnings improved much more, from -$11.9 billion to $1.9 billion, over the same time. Figure 1 shows the shift from -$4.5 billion in GAAP Earnings Distortion (Core Earnings > GAAP) in 2024 to $4.5 billion in GAAP Earnings Distortion (Core Earnings < GAAP) in 2025.

This multi-billion-dollar shift means Boeing is not as profitable as investors may think and is why it was removed from the Bloomberg New Constructs Core Earnings Leaders Index during the latest rebalance.

Figure 1: Boeing’s Core Earnings vs. GAAP Net Income: 2021 – 2025

BA Core Vs GAAP Earnings 2021-2025

New Constructs, LLC

How I Reconcile Boeing’s GAAP Earnings to Core EarningsBelow, I detail the hidden and reported unusual items that distort Boeing’s GAAP Earnings in 2025 as a real-world example of the work my firm does for all companies under coverage. I remove all of these unusual income and expense items from Core Earnings.

I provide these details so readers can audit my research and see the importance of reading 10-Ks and 10-Qs.

Boeing’s GAAP Earnings Distortion Score is strong miss and the stock earns an unattractive Stock Rating.

Boeing receives an Unattractive rating due to its negative economic earnings, return on invested capital (ROIC) of 0%, and expensive stock price.

Despite trading at $224/share, Boeing has an economic book value (EBV), or no-growth value, of -$53/share in large part because of its low ROIC and present value of total debt of $51.2 billion.

Boeing has a market-implied growth appreciation period (GAP) of greater than 100 years based on my Robo-Analyst’s default scenario in my reverse discounted cash flow (DCF) model.

Figure 2 details the differences, what I call GAAP Earnings Distortion, between Boeing’s 2025 Core Earnings and GAAP Earnings.

Figure 2: Boeing’s GAAP Earnings to Core Earnings Reconciliation: 2025

BA Core To GAAP Reconciliation 2025

New Constructs, LLC

Details on Key Data Found in the FootnotesBoeing’s 2025 GAAP EPS are $2.48, and Core EPS are -$3.46. The difference is GAAP Earnings Distortion of $5.94/share, or $4.5 billion, and is comprised of the following:

Hidden Unusual Expenses Pre-Tax, Net = -$7.05/share, which equals -$5.4 billion and is comprised of:

-$5.3 billion in 777x and 767 reach forward losses, abnormal production costs, and benefits from government assistance-$98 million in investment/asset impairment charges and acquisition related costsReported Unusual Income Pre-Tax, Net = $14.04/share, which equals $10.7 billion and is comprised of:

$9.7 billion in gain on dispositions$1.2 billion in other income and income from operating investments-$120 million contra adjustment for recurring pension costs. These recurring expenses are reported in non-recurring line items, so I add them back and exclude them from Earnings DistortionTax Distortion = -$1.05/per share, which equals -$803 million

Given that the majority of GAAP Earnings Distortion listed above is reported, specifically the $9.7 billion gain on disposition, unknowing investors may assume Wall Street adjusts for these items accordingly.

However, Boeing receives 30 Buy, Overweight, or Hold ratings and just 1 sell rating on Wall Street.

Investors armed with Core Earnings have a more comprehensive set of unusual items to calculate a superior measure of profitability.

When I cut through the accounting noise, I see that Boeing is not as profitable as GAAP earnings show, which is why it no longer earns a place in the Bloomberg New Constructs Core Earnings Leaders Index.

Broadridge Financial Solutions (BR): Less Than Meets the EyeA company can earn an Attractive-or-better rating and be removed from the Bloomberg New Constructs Core Earnings Leaders Index. Regardless of overall rating, if a company’s Core Earnings are lower than its GAAP Earnings, it doesn’t earn a spot in the index. Case in point: Broadridge Financial Solutions (BR).

Broadridge Financial Solutions’ Core Earnings were greater than its GAAP earnings from fiscal 2022 to fiscal 2025. However, after I parsed the company’s fiscal 2Q26 10-Q, trailing-twelve-month GAAP earnings surpassed Core Earnings. As a result, Broadridge Financial Solutions was removed from the index in the latest rebalance, even as it earns an attractive Stock Rating.

Broadridge Financial Solutions’ Core Earnings improved from $878 million in fiscal 2025 to $932 million in the TTM ended fiscal 2Q26. However, GAAP earnings improved much more, from $840 million to $1.1 billion, over the same time.

Figure 3 shows how Broadridge Financial Solutions’ GAAP Earnings Distortion increased from -$39 million (Core Earnings > GAAP) in fiscal 2025 to $135 million (Core Earnings < GAAP) in the TTM ended fiscal 2Q26.

Figure 3: Broadridge Financial Solutions’ Core Earnings vs. GAAP Net Income Since Fiscal 2021

BR Core Vs GAAP Earnings Fiscal 2021 - Fiscal 2Q26

New Constructs, LLC

How I Reconcile Broadridge’s GAAP Earnings to Core EarningsBelow, I detail the hidden and reported unusual items that distort Broadridge Financial Solutions’ GAAP Earnings in the TTM ended fiscal 2Q26.

Broadridge Financial Solutions’ GAAP Earnings Distortion Score is strong miss. The company’s GAAP Earnings Distortion of $135 million, or $1.14/share is 13% of reported earnings and 1.6% of total assets. In other words, Broadridge Financial Solutions’ GAAP earnings are overstated because they include $1.14/share of net unusual gains.

Figure 4 details the GAAP Earnings Distortion between Broadridge Financial Solutions’ TTM ended fiscal 2Q26 Core Earnings and GAAP Earnings.

Figure 4: Broadridge Financial GAAP Earnings to Core Earnings Reconciliation: TTM Fiscal 2Q26

BR Core To GAAP Reconciliation Fiscal 2Q26

New Constructs, LLC

Details on Key Data Found in the FootnotesBroadridge’s TTM ended 2Q26 GAAP EPS are $9.04, and Core EPS are $7.89. The difference is GAAP Earnings Distortion of $1.14/share, or $135 million, and is comprised of the following:

Hidden Unusual Expenses Pre-Tax, Net = -$0.43/share, which equals -$51 million and is comprised of:

-$29 million in restructuring and other related costs and write down of long-lived asset and related charges-$23 million in acquisition and integration costsReported Unusual Income Pre-Tax, Net = $1.97/share, which equals $233 million and is comprised of:

$233 million in other non-operating income primarily related to unrealized and realized gains on digital assetsTax Distortion = -$0.40/per share, which equals -$47 million

Given that the majority of GAAP Earnings Distortion listed above is reported, unknowing investors may assume common earnings metrics adjust for these items.

However, without making these material adjustments, as I do to calculate Core Earnings, investors would not realize how overstated GAAP Earnings are.

The company’s GAAP Earnings grew 27% from fiscal 2025 to the TTM ended 2Q26. Meanwhile, Broadridge’s Core Earnings grew just 6% over the same time.

Just as with Boeing above, investors armed with Core Earnings insights get a more accurate picture of the real profitability of Broadridge. With this edge, I see that the company is not as profitable as its GAAP earnings indicate, which is why it was removed from the Bloomberg New Constructs Core Earnings Leaders Index.

As I noted in the opening of this report, just one bad stock can ruin your portfolio. Core Earnings, and the Bloomberg New Constructs Core Earnings Leaders Index, empower investors to quickly and easily avoid the stocks of companies that aren’t as profitable as reported results would have you believe.

Using Core Earnings to Pick Stocks Drives AlphaYou don’t have to take my word for it when I say picking stocks based on Core Earnings drives novel alpha.

The outperformance of the Bloomberg New Constructs Core Earnings Leaders Index provides real-time proof.

Per Figure 5, The Bloomberg New Constructs Core Earnings Leaders Index beat the S&P 500 by 9% in 2025. The Index (ticker: BCORET:IND) was up 27% while the S&P 500 was up 18%.

Figure 5: Bloomberg New Constructs Core Earnings Leaders Index Outperforms S&P 500 in 2025

Bloomberg New Constructs Core Earnings Leaders Total Return 2025

New Constructs, LLC

Sources: Bloomberg as of December 31, 2025
Note: Past performance is no guarantee of future results

On May 18, 2026, Broadridge Financial Solutions Inc BR shares rose 3.4% today, closing at $150.62. The stock has fluctuated between a 52-week high of $271.91 and a low of $139.79, reflecting significant volatility over the past year.

GF Value™ verdict: Current price at $150.62 is 37.3% below GF Value™ of $240.34, indicating substantial upside potential.GF Score™ of 83/100 signifies a strong overall assessment based on quality metrics.Notable insider activity shows that insiders bought $1.0M of stock in the last 3 months, indicating confidence in the company's future. Is BR Overvalued or Undervalued? According to the GF Value™, Broadridge Financial Solutions Inc is currently undervalued, with its shares trading at $150.62 compared to a fair value estimate of $240.34. This represents a margin of safety of 37.3%, suggesting that the stock is trading significantly below its intrinsic value. The GF Valuation label indicates that the stock is "Significantly Undervalued," presenting a prime opportunity for potential investors, although caution is advised due to the stock’s recent price volatility and downward trend over the past year.

GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates. Given the company's strong profitability and growth rankings, the undervaluation might imply that the market has not fully recognized Broadridge's potential for continued success.

How Does BR's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 16.1x 34.3x Forward P/E 14.5x N/A Broadridge's current P/E (TTM) of 16.1x is considerably below its 5-year median P/E of 34.3x, indicating that the stock is trading at a much lower valuation than its historical averages. This P/E analysis supports the GF Value™ verdict that the stock is undervalued, as it suggests that the market may not be fully pricing in the company’s growth potential.

What Does BR's GF Score™ Tell Us? Metric Rating GF Score™ 83 Financial Strength 6/10 Profitability 9/10 Growth 10/10 Valuation 4/10 Momentum 2/10 The GF Score™ of 83/100 indicates that Broadridge Financial Solutions Inc has a strong overall rating. The highest ratings are in Profitability (9/10) and Growth (10/10), showcasing the company's solid financial performance and growth prospects. However, the Valuation rank of 4/10 and Momentum rank of 2/10 suggest that the stock may be facing challenges in terms of market perception and recent price performance.

What Are Insiders Doing with BR Stock? Recent insider activity at Broadridge shows a positive trend, with insiders purchasing $1.0M worth of shares in the last three months and no reported selling. This buying activity often signals confidence in the company's future performance and may indicate that insiders believe the stock is undervalued at current levels. Such actions can provide a level of reassurance to outside investors regarding the company’s prospects.

What This Means for Investors Based on the analysis, Broadridge Financial Solutions Inc appears to be undervalued according to the GF Value™, presenting a significant margin of safety. While the stock has faced challenges in recent months, the strong GF Score™ and insider buying activity suggest potential for recovery and growth. However, investors should remain cautious and consider market conditions and overall economic factors.

For the complete analysis, visit the Broadridge Financial Solutions Inc BR stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is BR's GF Score™?

BR's GF Score™ is 83/100, indicating a strong overall assessment based on key financial metrics.

Is BR overvalued or undervalued?

BR is currently undervalued, with a GF Value™ of $240.34 compared to its current price of $150.62, suggesting significant upside potential.

What is BR's P/E ratio?

BR's P/E ratio is 16.1x, which is 53% below its 5-year median P/E of 34.3x, further supporting the notion that the stock is undervalued.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Broadridge Financial is rated Strong Buy, with Wall Street overlooking its transformation into a high-margin decentralized finance and AI infrastructure leader. BR's upside is driven by exponential DLR scaling, Agentic AI productivity gains, and LTX's centralization of corporate bond liquidity with top dealers. Despite topline compression risks from SEC digital-default mandates and slower closed sales, BR's margin expansion and FCF yield create a compelling entry point.

Broadridge Financial Solutions, Inc. (BR) Presents at Bernstein 42nd Annual Strategic Decisions Conference Transcript

Agentic AI and quantum-ready mainframe capabilities advance data center modernization

, /PRNewswire/ -- Kyndryl (NYSE: KD), a leading provider of mission-critical enterprise technology services, and Broadridge Financial Solutions, Inc. (NYSE: BR), a global Fintech leader, today announced an extension of their longstanding relationship strengthening core platforms and integrating AI-enabled operations alongside quantum-safe capabilities. Under the expanded agreement, Kyndryl Bridge, Kyndryl's AI-powered, open-integration platform, and Kyndryl's Agentic AI Framework will be leveraged to support Broadridge's strategy to drive the democratization and digitization of investing, simplify trading and modernize wealth management.

As part of the agreement to strengthen resiliency, scalability and cryptographic protection against emerging risks, Kyndryl will invest in further modernizing Broadridge's data center, network architecture and core mainframe environment, including a strategic refresh to a next-generation, quantum-safe platform. The transformation will also incorporate AI-enabled capabilities, leveraging the Kyndryl Agentic AI Framework to support more intelligent operations, faster issue resolution and reduced technical complexity.

"Our platforms support clients across all global financial services, where resiliency and trust are nonnegotiable," said Tyler Derr, CTO, Broadridge. "We are strengthening the infrastructure our clients rely on and we continue evolving our technology to meet rising regulatory, market and operational demands. We chose to extend our collaboration with Kyndryl because of their long-standing experience supporting mission-critical platforms in highly regulated environments."

"By modernizing core platforms and integrating AI-enabled operations alongside quantum-safe capabilities, we are helping Broadridge run mission-critical systems with greater confidence today while preparing for what comes next," said Jamie Rutledge, President, Kyndryl U.S. "As a DORA-designated critical third-party service provider, Kyndryl is uniquely positioned to continue to help Broadridge manage risk and support the integrity of financial market operations as resiliency, security and performance demands increase."

For Broadridge clients, this collaboration helps strengthen the resiliency, availability and future readiness of the critical platforms they depend on to support trading, communications and other essential financial services operations. Broadridge is better positioned to deliver:

Stronger performance and scalability to help support high-volume trading and communications activity without compromising reliability. More secure, resilient operations in an increasingly complex risk and regulatory environment. Faster, smarter issue resolution through AI-enabled insights that help identify and address problems before they impact service. A more future-ready technology foundation to support continued innovation while protecting core systems and data. Greater platform availability and business continuity so clients can rely on critical services even during disruptions or periods of market stress. About Broadridge
Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com

Broadridge Contacts:

Investors:
[email protected]    

Media:
[email protected]

About Kyndryl
Kyndryl (NYSE: KD) is a leading provider of mission-critical enterprise technology services, offering advisory, implementation and managed service capabilities to thousands of customers in more than 60 countries. As the world's largest IT infrastructure services provider, the Company designs, builds, manages and modernizes the complex information systems that the world depends on every day. For more information, visit www.kyndryl.com.

Kyndryl Press Contact
[email protected]

SOURCE Kyndryl

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May 2026 ADV reaches $362 billion as momentum continues for institutional adoption of tokenized settlement and Broadridge's market-leading Distributed Ledger Repo

, /PRNewswire/ -- Broadridge Financial Solutions, Inc. (NYSE: BR), global Fintech leader, today announced that its Distributed Ledger Repo (DLR) processed an average of $362 billion in daily repo transactions during May, with volumes totaling $7.2 trillion. The daily average is a 220% increase year-over-year, underscoring the continued adoption of tokenized real-asset settlement and the growing role of distributed ledger technology as a scalable solution for capital markets.

"The sustained growth of DLR reflects a broader shift toward modernizing core market infrastructure with tokenized settlement," said Horacio Barakat, Global Head of Digital Innovation at Broadridge. "Institutions are increasingly looking for ways to improve liquidity efficiency and collateral mobility while maintaining operational simplicity. DLR is helping firms put tokenization to work in day-to-day market activity, delivering measurable benefits on an institutional scale."

As funding and collateral markets become increasingly complex, DLR provides firms with a scalable framework for managing liquidity through tokenized settlement. By enabling the efficient movement of tokenized securities within existing market workflows, DLR helps firms improve capital utilization, increase funding flexibility, and reduce operational friction while maintaining the controls and resiliency required in regulated markets.

Broadridge recently announced a comprehensive expansion of its tokenization capabilities, extending the proven infrastructure behind DLR to support tokenized securities across multiple asset classes. The initiative broadens Broadridge's ability to support the issuance, trading, settlement, and servicing of tokenized assets, enabling institutions to operate across traditional and digital markets through a single, integrated framework.

As tokenization continues to gain momentum across financial services, Broadridge is helping institutions modernize market infrastructure through scalable solutions that enhance liquidity, improve operational efficiency, and support the seamless movement of assets across markets. To learn more about DLR, the world's largest institutional platform for settling tokenized real assets, visit Broadridge's DLR.

About Broadridge's Tokenization Solutions

Broadridge enables on-chain proxy voting and governance, digital asset infrastructure including post trade, wallets and custody, and the scaling of digital asset capabilities across multiple asset classes. Through these innovations, Broadridge is helping financial institutions unlock the next era of digital assets investing.

Broadridge's Distributed Ledger Repo (DLR) solution is the world's largest institutional platform for settling tokenized real assets, tokenizing approximately over $365 billion a day. As tokenization gains momentum across financial services, Broadridge is meeting the complexity of operating across traditional and digital ecosystems with established scale, critical market knowledge, and technological expertise.

About Broadridge

Broadridge Financial Solutions (NYSE: BR) is a global technology leader with trusted expertise and transformative technology, helping clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications for our clients – driving operational resiliency, elevating business performance, and transforming investor experiences.

Our technology and operations platforms process and generate over 7 billion communications annually and underpin the daily average trading of over $15 trillion in tokenized and traditional securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 15,000 associates in 21 countries.

For more information about us, please visit www.broadridge.com 

Broadridge Contacts:

Investors: 
[email protected]           

Media:
[email protected]

SOURCE Broadridge Financial Solutions, Inc.

Broadridge Financial Solutions, Inc. (BR) Presents at RBC Capital Markets Global Financial Technology Conference 2026 Transcript