- Franklin Resources (NYSE:BEN) fiscal Q3 adjusted EPS of 65 cents beats the average analyst estimate of 62 cents.
- Compares with 72 cents in fiscal Q2 and 75 cents in Q3 2018.
- Operating revenue for the quarter ended June 30, 2019 of $1.48B rose 3% Q/Q and fell 5% Y/Y.
- With a tax charge of $86.4M, or 17 cents per share, due to a revision to its estimated tax expense upon issuance of final regulations related to the Tax Cuts and Jobs Act of 2017, Q3 2019 net income came to $245.9M, or 48 cents per share.
- Q3 operating margin of 25.4% fell from 26.5% in Q2 and 32.3% in the year-ago quarter.
- Assets under management at June 30, 2019 of $715.2B increased from $712.3B at March 31, 2019 as $8.3M of net market change, distributions and other were partly offset by $5.4B of net outflows.
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Conference call at 11:00 AM ET.
- Previously: Franklin Resources EPS beats by $0.03, revenue in-line (July 30)