Franklin Resources (BEN) Tops Q4 EPS by 22c

Franklin Resources (NYSE: BEN) reported Q4 EPS of $0.96, $0.22 better than the analyst estimate of $0.74. Revenue for the quarter came in at $1.53 billion versus the consensus estimate of $1.55 billion.

“There were a number of noteworthy developments in fiscal year 2018,” said Greg Johnson, Chairman and CEO of Franklin Resources, Inc. “As announced earlier this morning, we have entered into an agreement to acquire Benefit Street Partners, with its $26 billion in assets under management. This acquisition will give us exposure to the private credit asset class, including distressed credit, which will complement our existing capabilities and allow us to expand the strategies we offer to our clients. This transaction will be in addition to the acquisitions of Edinburgh Partners and Random Forest earlier this year.

“We also continue to act on several multi-year strategic focus areas to augment our core business and fuel future growth. In fiscal year 2018, this included building out our multi-asset solutions business, promoting and expanding our ETF platform, and growing our alternatives investment capabilities.”

For earnings history and earnings-related data on Franklin Resources (BEN) click here.

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