Franklin Resources reports Q1 adjusted EPS 70c, consensus 55c

Reports Q1 revenue $2.33B, consensus $1.96B. “Our first fiscal quarter continued the momentum we built last year with strong client activity across Franklin Templeton’s diversified global platform, with positive net flows in both public and private markets,” said Jenny Johnson, CEO of Franklin Resources (BEN). “Long-term net inflows were $28.0 billion, with record AUM and positive net flows across equity, multi-asset and alternatives strategies, as well as ETFs, retail SMAs and Canvas. Excluding Western Asset Management, long-term net inflows totaled $34.6 billion, nearly double the prior year quarter, extending our track record to a ninth consecutive quarter of positive flows on a comparable basis.”