Franklin Resources Inc. (BEN) reported fourth-quarter fiscal 2024 (ended Sept. 30) adjusted earnings of 59 cents per share, which missed the Zacks Consensus Estimate of 60 cents. Also, the bottom line decreased 29.7% from the prior-year quarter.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.BEN’s results were affected by a rise in its operating expenses. However, an increase in assets under management (AUM) balances, along with rising revenues, offered support. Net loss was $84.7 m ...

Call Start: 11:00 January 1, 0000 12:00 PM ET Franklin Resources, Inc. (NYSE:BEN) Q4 2024 Earnings Conference Call November 04, 2024 11:00 AM ET Company Participants Selene Oh - Chief Communications Officer & Head of Investor Relations Jenny Johnson - President & Chief Executive Officer Matt Nicholls - Chief Financial Officer & Chief Operating Officer Adam Spector - Head, Global Distribution Conference Call Participants Bill Katz - TD Cowen Benjamin Budish - Barclays Dan Fannon - Jefferies Michael Cyprys - ...

AUM and Flows - Ending AUM reached $1.6786 trillion, a 22.2% increase compared to the previous fiscal year[9, 12, 15] - Long-term inflows increased by 25% year-over-year, with growth in all regions[9, 33] - Long-term net outflows were $32.6 billion, including $20.7 billion of reinvested distributions; excluding Western Asset Management, there were long-term net inflows of $16.0 billion[9, 33] - Private markets fundraising totaled $14.8 billion[9, 24] Financial Performance - Adjusted revenues increased by 7.5% for fiscal year 2024, primarily due to the inclusion of Putnam Investments and higher average AUM[14, 15] - Adjusted operating income decreased by 6.1%, mainly due to higher incentive compensation, lower performance fees, and increased operating expenses[14, 15] - Adjusted net income and EPS declined by 4.2% and 8.1%, respectively, due to lower operating income and a higher tax rate[14, 15] - Adjusted performance fees were $293.4 million, down from $382.8 million in the prior year[14] Strategic Initiatives - Specialist investment managers acquired since 2019 represent 64% of AUM and 55% of adjusted operating revenue[16, 17] - The company returned $946 million to shareholders through dividends and share repurchases, with cash and investments at $6.73 billion at year-end[14] - Fiduciary Trust International AUM has more than doubled in the past five years, growing from $16.9 billion to $39.3 billion[28]

For the quarter ended September 2024, Franklin Resources (BEN) reported revenue of $2.21 billion, up 11.3% over the same period last year. EPS came in at $0.59, compared to $0.84 in the year-ago quarter.The reported revenue represents a surprise of +4.35% over the Zacks Consensus Estimate of $2.12 billion. With the consensus EPS estimate being $0.60, the EPS surprise was -1.67%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall St ...

Franklin Resources (BEN) came out with quarterly earnings of $0.59 per share, missing the Zacks Consensus Estimate of $0.60 per share. This compares to earnings of $0.84 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -1.67%. A quarter ago, it was expected that this investment manager would post earnings of $0.57 per share when it actually produced earnings of $0.60, delivering a surprise of 5.26%.Over the last four quarters, ...

Financial Performance - Preliminary net loss for Q4 2024 was $84.7 million or $0.19 per diluted share, compared to net income of $174.0 million or $0.32 per diluted share in the previous quarter[1] - Adjusted net income for Q4 2024 was $315.2 million, down 3% from $326.4 million in the previous quarter and down 26% from $427.0 million year-over-year[6] - Operating income for the quarter was a loss of $150.7 million, a decline from an income of $338.3 million in the same quarter last year[12] - Net income attributable to Franklin Resources, Inc. was a loss of $84.7 million, compared to a profit of $295.5 million in the prior year[12] - Basic earnings per share for the quarter were $(0.19), down from $0.58 in the same quarter of 2023[12] - The operating margin for the quarter was 6.8%, a decrease from 17.0% in the same period last year[12] - The company reported an operating loss of $150.7 million, compared to an operating income of $222.5 million for the previous quarter and $338.3 million for the same quarter last year[38] - The adjusted net income for the three months ended September 30, 2024, was $315.2 million, slightly down from $326.4 million in the previous quarter and down from $427.0 million in the same quarter last year[40] - The diluted earnings per share for the three months ended September 30, 2024, was a loss of $0.19, compared to earnings of $0.32 in the previous quarter and $0.58 in the same quarter last year[40] Assets Under Management (AUM) - Total assets under management (AUM) reached $1.68 trillion, a 2% increase from the previous quarter and a 22% increase year-over-year[6] - Ending AUM as of September 30, 2024, was $1,678.6 billion, representing a 22% increase from $1,374.2 billion year-over-year[14] - Average AUM for the three-month period ended September 30, 2024, was $1,667.5 billion, an 18% increase from $1,419.1 billion year-over-year[14] - AUM by asset class as of September 30, 2024: Equity at $632.1 billion, Fixed Income at $556.4 billion, Alternatives at $249.9 billion, Multi-Asset at $176.2 billion, and Cash Management at $64.0 billion[19] - Total international AUM was $501.5 billion, up 2% from $491.6 billion in the previous quarter[17] - AUM in the United States increased to $1,177.1 billion as of September 30, 2024, from $1,155.0 billion on June 30, 2024[17] - AUM in the Asia-Pacific region was $178.0 billion, reflecting a 2% increase from $174.1 billion in the previous quarter[17] Revenue and Expenses - Total operating revenues for the three months ended September 30, 2024, were $2,211.2 million, an increase of 11% compared to $1,986.1 million in the same period of 2023[12] - Investment management fees rose to $1,766.2 million, reflecting an 8% increase from $1,634.4 million year-over-year[12] - Total operating expenses increased significantly by 43% to $2,361.9 million, compared to $1,647.8 million in the same quarter of 2023[12] - The adjusted operating income for the three months ended September 30, 2024, was $451.6 million, up from $424.9 million in the previous quarter but down from $511.7 million in the same quarter last year[38] Shareholder Information - The company repurchased 4.9 million shares of common stock for a total cost of $102.4 million during Q4 2024[7] - Dividends declared per share increased by 3% to $0.31, compared to $0.30 in the previous year[12] - The company declared dividends of $0.31 per share, unchanged from the previous quarter[13] - Average shares outstanding increased by 6% to 516.2 million, compared to 489.2 million in the same quarter of 2023[12] Market Activity - Long-term inflows for the fiscal year were $319 billion, a 25% increase from the prior year, while long-term net outflows were $32.6 billion[2] - Long-term inflows for the three months ended September 30, 2024, were $82.5 billion, a 49% increase from $55.2 billion in the same period last year[14] - Total net flows for the three months ended September 30, 2024, were $(31.5) billion, a 271% increase in outflows compared to $(8.5) billion in the previous quarter[14] - Long-term net flows for the three months ended September 30, 2024, were $0.8 billion, with long-term inflows of $36.8 billion and outflows of $36.0 billion[19] Strategic Initiatives - The acquisition of Putnam Investments resulted in a 21% increase in AUM to $180 billion and generated approximately $11 billion in positive net flows[4] - The company experienced strong growth in international business, culminating in over $500 billion in AUM[3] - The company has a strategic focus on expanding its investment management capabilities and technology solutions to enhance client outcomes[43] - The company incurred acquisition-related retention expenses of $46.3 million for the three months ended September 30, 2024, compared to $43.7 million in the previous quarter[40] - Other acquisition-related expenses for the three months ended September 30, 2024, were $31.8 million, slightly down from $33.6 million in the previous quarter[38] Impairments - The company reported an impairment of intangible assets amounting to $389.2 million for the twelve months ended September 30, 2024[40]

NEW YORK, Oct. 31, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, continues to investigate potential securities claims on behalf of shareholders of Franklin Resources, Inc. (NYSE: BEN) resulting from allegations that Franklin Resources may have issued materially misleading business information to the investing public. So What: If you purchased Franklin Resources securities you may be entitled to compensation without payment of any out of pocket fees or costs through a cont ...

Core Viewpoint - Analysts project that Franklin Resources (BEN) will report quarterly earnings of $0.60 per share, reflecting a year-over-year decline of 28.6%, while revenues are expected to reach $2.12 billion, an increase of 6.7% from the same quarter last year [1]. Earnings Projections - The consensus EPS estimate has been revised 2.8% lower over the last 30 days, indicating a collective reevaluation by analysts [2]. - Changes in earnings projections are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate trends and short-term stock price movements [3]. Revenue Estimates - Analysts expect 'Operating Revenues- Other' to be $11.83 million, a 46.1% increase year-over-year [5]. - 'Operating Revenues- Investment management fees' are projected to reach $1.66 billion, reflecting a 1.7% increase from the previous year [5]. - 'Operating Revenues- Shareholder servicing fees' are expected to be $63.34 million, indicating a 70.3% increase year-over-year [6]. - 'Operating Revenues- Sales and distribution fees' are forecasted to reach $353.23 million, a 15.3% increase from the prior year [6]. Assets Under Management (AUM) - 'Assets Under Management - Fixed income' is expected to reach $568.87 billion, up from $483.1 billion in the same quarter last year [7]. - 'Assets Under Management - Multi-Asset' is projected at $176.17 billion, compared to $145 billion a year ago [7]. - 'Assets Under Management - Equity' is anticipated to be $614.05 billion, up from $430.4 billion year-over-year [8]. - Total 'Assets Under Management' is expected to reach $1,687.32 billion, compared to $1,374.2 billion in the same quarter last year [8]. - 'Assets Under Management - Alternative' is projected at $259.15 billion, slightly up from $254.9 billion year-over-year [9]. - 'Assets Under Management - Cash Management' is expected to be $69.08 billion, compared to $60.8 billion a year ago [9]. Market Performance - Shares of Franklin Resources have returned +5.1% over the past month, outperforming the Zacks S&P 500 composite's +1% change [9].

NEW YORK, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Rosen Law Firm, a global investor rights law firm, continues to investigate Franklin Resources, Inc. (NYSE: BEN) for potential violations of the federal securities laws. If you invested in Franklin Resources, you are encouraged to obtain additional information by visiting https://rosenlegal.com/case/franklin-resources-inc/. Why did Franklin Resources’ Stock Drop? On August 21, 2024, Franklin Resources filed a current report with the SEC. In this current report, th ...

Franklin Resources Inc. (BEN) is scheduled to report fourth-quarter fiscal 2024 results (ended Sept. 30) on Nov. 4, before market open. While BEN's quarterly earnings are anticipated to have declined from the year-ago reported level, revenues are expected to have risen. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar. In the last reported quarter, Franklin's earnings topped the Zacks Consensus Estimate on increased asset under management (AUM) balances. However, higher expenses were ...