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Franklin Resources Inc (BEN) SEC Filing 10-Q Quarterly Report for the period ending Friday, December 31, 2021

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Franklin Resources Inc

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CIK: 38777 Ticker: BEN

EXHIBIT 99.1
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Contact:Franklin Resources, Inc.
Investor Relations: Selene Oh (650) 312-4091, selene.oh@franklintempleton.com
Media Relations: Matt Walsh (650) 312-2245, matthew.walsh@franklintempleton.com
investors.franklinresources.com

FOR IMMEDIATE RELEASE

Franklin Resources, Inc. Announces First Quarter Results

San Mateo, CA, February 1, 2022
– Franklin Resources, Inc. (the “Company”) [NYSE: BEN] today announced net income1 of $453.2 million or $0.88 per diluted share for the quarter ended December 31, 2021, as compared to $665.7 million or $1.30 per diluted share for the previous quarter, and $345.3 million or $0.67 per diluted share for the quarter ended December 31, 2020. Operating income was $557.7 million for the quarter ended December 31, 2021, as compared to $531.5 million for the previous quarter and $409.1 million in the prior year. The previous quarter included a tax benefit2 of $155.1 million or $0.30 per diluted share due to the release of certain tax reserves primarily related to the closure of Internal Revenue Service audits and increases in our ability to utilize certain tax attributes resulting from the integration of our business.

As supplemental information, the Company is providing certain adjusted performance measures which are based on methodologies other than generally accepted accounting principles. Adjusted net income3 was $553.6 million and adjusted diluted earnings per share3 was $1.08 for the quarter ended December 31, 2021, as compared to $644.6 million and $1.26 for the previous quarter, and $373.4 million and $0.73 for the quarter ended December 31, 2020. Adjusted operating income3 was $685.9 million for the quarter ended December 31, 2021, as compared to $647.1 million for the previous quarter and $549.9 million in the prior year.

“Our first fiscal quarter results reflect the continued progress we are making on a number of important fronts,” said Jenny Johnson, President and CEO of Franklin Resources, Inc. “We continue to diversify our business across products, geographies, vehicles, and asset classes to create broader sources of revenue and growth potential. All asset classes saw improved long-term net flows for the quarter and alternatives posted a 10th consecutive quarter of net long-term inflows.

“Our financial flexibility continues to allow us to make strategic investments in the key areas of focus driving industry growth, including alternatives, SMAs, wealth management, and ESG – all areas where we reached record highs in AUM. During the quarter, we announced the acquisition of Lexington Partners, a global leader in secondary private equity and co-investments, and we closed the acquisition of O’Shaughnessy Asset Management, which complements our existing strengths in SMAs and expands our custom solutions capabilities. This month, we will welcome Anne Simpson to our organization as Global Head of Sustainability. This notable hire demonstrates our commitment to being a global leader in stewardship and sustainability.”
1
The following information was filed by Franklin Resources Inc (BEN) on Tuesday, February 1, 2022 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Inside Franklin Resources Inc's 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Paranthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income
Consolidated Statements Of Income
Consolidated Statements Of Shareholders' Equity (Parenthetical)
Consolidated Statements Of Stockholders' Equity
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss) (Tables)
Accumulated Other Comprehensive Income (Loss) - Changes In Accumulated Other Comprehensive Income (Loss) By Component (Details)
Basis Of Presentation
Basis Of Presentation (Tables)
Basis Of Presentation - Effects Of The Changes To The Previously Reported Statement Of Income (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Consolidated Investment Products
Consolidated Investment Products (Tables)
Consolidated Investment Products - Narrative (Details)
Consolidated Investment Products - Schedule Of Balances Of Assets And Liabilities Of Cips Measured At Fair Value (Details)
Consolidated Investment Products - Schedule Of Balances Of Cips (Details)
Consolidated Investment Products - Schedule Of Changes In Level 3 Assets Of Cips (Details)
Consolidated Investment Products - Schedule Of Contractual Maturities For Debt Of Cips (Details)
Consolidated Investment Products - Schedule Of Debt Of Cips (Details)
Consolidated Investment Products - Schedule Of Financial Instruments Of Cips Not Measured At Fair Value (Details)
Consolidated Investment Products - Schedule Of Investments Measured At Nav (Details)
Consolidated Investment Products - Schedule Of Unpaid Principal Balance And Fair Value Of Investments And Debt Of Clos (Details)
Consolidated Investment Products - Schedule Of Valuation Techniques And Significant Unobservable Inputs Used In Level 3 Fair Value Measurements (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Components Of Basic And Diluted Earnings Per Share (Details)
Earnings Per Share - Narrative (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
Fair Value Measurements - Narrative (Details)
Fair Value Measurements - Schedule Of Assets And Liabilities Measured At Fair Value On A Recurring Basis (Details)
Fair Value Measurements - Schedule Of Changes In Level 3 Assets And Liabilities (Details)
Fair Value Measurements - Schedule Of Financial Instruments Not Measured At Fair Value (Details)
Fair Value Measurements - Schedule Of Investments Measured At Nav (Details)
Investment And Other Income , Net - Schedule Of Investment And Other Income, Net (Details)
Investment And Other Income, Net
Investment And Other Income, Net (Tables)
Investment And Other Income, Net - Narrative (Details)
Investments
Investments (Tables)
Investments - Summary Of Investments (Details)
Nonconsolidated Variable Interest Entities
Nonconsolidated Variable Interest Entities (Tables)
Nonconsolidated Variable Interest Entities - Schedule Of Maximum Exposure To Loss (Details)
Redeemable Noncontrolling Interests
Redeemable Noncontrolling Interests (Details)
Redeemable Noncontrolling Interests (Tables)
Revenues
Revenues (Tables)
Revenues - Schedule Of Operating Revenues By Geographic Area (Details)
Revenues Narratives (Details)
Stock-Based Compensation
Stock-Based Compensation (Tables)
Stock-Based Compensation - Narrative (Details)
Stock-Based Compensation - Summary Of Stock And Stock Unit Award Activity (Details)
Subsequent Event
Subsequent Event Narrative (Details)
Ticker: BEN
CIK: 38777
Form Type: 10-Q Quarterly Report
Accession Number: 0000038777-22-000013
Submitted to the SEC: Tue Feb 01 2022 8:45:10 AM EST
Accepted by the SEC: Tue Feb 01 2022
Period: Friday, December 31, 2021
Industry: Investment Advice

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