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  "docSlug": "a2803989ab19",
  "documentTitle": "Broadridge Financial Solutions, Inc. (BR)",
  "authorId": "54_Spruce_Point_Capital",
  "authorName": "Ben Axler",
  "documentKindSlug": "activist-deck",
  "documentKindLabel": "Activist deck",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2022-09-28 00:00:00",
  "orientation": "landscape",
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  "pageNumber": 25,
  "pageCount": 81,
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  "slideType": "expose_contradiction",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 45,
  "notes": "The slide uses color coding (red) to highlight the specific period where FCF guidance was suspended.",
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      "kind": "callout",
      "text": "Spruce Point believes it is a major red flag when a company stops being able to provide Free Cash Flow (FCF) guidance. We observe this happened after the departure of CFO Young in mid 2020. In the year he left, BR missed FCF guidance by an astounding 15.3%.",
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      "text": "Free Cash Flow: 15.3%",
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      "text": "Financial performance table showing metrics from FY 2019 to FY 2023",
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      "text": "Multi-Year Suspension of Free Cash Flow Guidance Post CFO Departure",
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