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Franklin Resources Inc (BEN) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

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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 Second Quarter Results

San Mateo, CA, May 3, 2022
– Franklin Resources, Inc. (the “Company”) [NYSE: BEN] today announced net income1 of $349.6 million or $0.68 per diluted share for the quarter ended March 31, 2022, as compared to $453.2 million or $0.88 per diluted share for the previous quarter, and $381.8 million or $0.74 per diluted share for the quarter ended March 31, 2021. Operating income was $463.0 million for the quarter ended March 31, 2022, as compared to $557.7 million for the previous quarter and $456.3 million for the prior year.

As supplemental information, the Company is providing certain adjusted performance measures which are based on methodologies other than generally accepted accounting principles. Adjusted net income2 was $491.6 million and adjusted diluted earnings per share2 was $0.96 for the quarter ended March 31, 2022, as compared to $553.6 million and $1.08 for the previous quarter, and $403.5 million and $0.79 for the quarter ended March 31, 2021. Adjusted operating income2 was $576.6 million for the quarter ended March 31, 2022, as compared to $685.9 million for the previous quarter and $581.1 million for the prior year.

“This quarter’s market volatility highlighted the benefits of diversification and global scale in our business,” said Jenny Johnson, President and CEO of Franklin Resources, Inc. “While industry-wide pressures, particularly in taxable fixed income, contributed to long-term net outflows, we experienced long-term net inflows, primarily into higher fee products, in the multi-asset category and at our alternative specialist investment managers, Benefit Street Partners and Clarion Partners, each of which reported record assets under management.

“This quarter, we continued to make significant progress on our corporate priorities – especially as they relate to diversifying our client offerings in alternatives, customization in SMAs, wealth management and ETFs. Most notably, we continue to place an emphasis on thoughtfully building out our alternative asset business, as illustrated by last month’s close of the Lexington Partners’ acquisition, which added key complementary capabilities in secondary private equity and co-investments. With the addition of Lexington, Franklin Templeton increased its presence in alternatives by 39% to become a $215 billion manager of alternative assets, an area of increasing importance for both individual and institutional investors. Our strong financial flexibility continues to allow us to make investments in our business that further diversify our firm and position us to address evolving client demand.”
1
The following information was filed by Franklin Resources Inc (BEN) on Tuesday, May 3, 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 - Narrative (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 (Details)
Consolidated Investment Products - Schedule Of Valuation Techniques And Significant Unobservable Inputs Used In Level 3 Fair Value Measurements (Details)
Debt
Debt - Narrative (Details)
Earnings Per Share
Earnings Per Share (Tables)
Earnings Per Share - Components Of Basic And Diluted Earnings Per Share (Details)
Fair Value Measurements
Fair Value Measurements (Tables)
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 - Narrative (Details)
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)

Material Contracts, Statements, Certifications & more

Franklin Resources Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification
Exhibit 32.1: Section 1350 Certification
Exhibit 32.2: Section 1350 Certification
Ticker: BEN
CIK: 38777
Form Type: 10-Q Quarterly Report
Accession Number: 0000038777-22-000099
Submitted to the SEC: Tue May 03 2022 8:47:37 AM EST
Accepted by the SEC: Tue May 03 2022
Period: Thursday, March 31, 2022
Industry: Investment Advice

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