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Franklin Resources announces Q3 results

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Franklin Resources has announced net income of USD402.0 million or USD0.75 per diluted share for the quarter ended 30 June 2018, compared to USD443.2 million or USD0.78 per diluted share for the previous quarter and USD410.6 million or USD0.73 per diluted share for the quarter ended 30 June 2017.

“We continue to strategically invest in key growth areas of the business, using our strong balance sheet to strengthen our capabilities,” says Greg Johnson, Chairman and CEO of Franklin Resources. “We’re making significant progress on our corporate initiatives which include our emphasis on developing solutions strategies, focusing on risk management and augmenting our investment capabilities, further enhancing the client experience, and expanding our global suite of smart beta, active and passive ETFs.”
 
Total assets under management (AUM) were USD724.1 billion at 30 June , 2018, down USD13.4 billion during the quarter due to USD12.1 billion of net outflows and USD11.1 billion of net market change, distributions and other, partially offset by USD9.8 billion from an acquisition.
 
Cash and cash equivalents and investments were USD7.9 billion at 30 June 2018, as compared to USD9.9 billion at 30 September 2017. Total stockholders’ equity was USD10.2 billion at 30 June, 2018, as compared to USD12.9 billion at 30 September 2017. The Company had 529.1 million shares of common stock outstanding at 30 June 2018, as compared to 554.9 million shares outstanding at 30 September 2017. During the quarter ended 30 June 2018, the Company repurchased 13.4 million shares of its common stock for a total cost of USD446.2 million.

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