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Franklin Resources

Franklin Resources (BEN) Q3 2026 Earnings

Reported Jul 31, 2026 at 8:36 AM ET · SEC Source

Q3 26 EPS

$0.72

BEAT +8.29%

Est. $0.66

Q3 26 Revenue

$2.36B

BEAT +1.92%

Est. $2.31B

vs S&P Since Q3 26

-1.7%

TRAILING MARKET

BEN +1.8% vs S&P +3.5%

Market Reaction

Did BEN Beat Earnings? Q3 2026 Results

Franklin Resources delivered a convincing beat across both top and bottom lines in fiscal Q3 2026, as the asset manager reported adjusted diluted EPS of $0.72 against a consensus estimate of $0.66, an 8.29% beat, while revenue of $2.36 billion topped… Read more Franklin Resources delivered a convincing beat across both top and bottom lines in fiscal Q3 2026, as the asset manager reported adjusted diluted EPS of $0.72 against a consensus estimate of $0.66, an 8.29% beat, while revenue of $2.36 billion topped expectations by 1.92% and grew 14.3% year over year. The single most compelling driver behind the results was a dramatic reversal in flows: long-term net inflows reached $18.40 billion for the quarter, compared to $9.30 billion in net outflows a year ago, with every major asset class, including alternatives, fixed income, equity, and multi-asset, contributing positively. Alternatives remained the standout engine, with alternative AUM climbing to $294.20 billion and private markets fundraising for the fiscal year already reaching $33.00 billion, ahead of the full-year target with one quarter still remaining. Adjusted operating margin expanded to 28.0% from 23.7% a year ago, reflecting the operating leverage building across the platform. The institutional won-but-unfunded pipeline grew to $28.60 billion, underscoring continued forward momentum.

Key Takeaways

  • • $18.4 billion in long-term net inflows across public and private assets during the quarter
  • • Positive net flows across every asset class and geography
  • • Alternative AUM reached $294.2 billion with $11.8 billion in fundraising
  • • AUM grew 11% year-over-year to $1,791.6 billion driven by market appreciation and strong inflows
  • • 14% year-over-year operating revenue growth driven by higher AUM levels
  • • Adjusted operating margin expanded to 28.0% from 23.7% a year ago

BEN Forward Guidance & Outlook

Fiscal year-to-date private markets fundraising of $33.0 billion has already exceeded the full fiscal year target with one quarter remaining. The institutional won-but-unfunded pipeline grew to a record $28.6 billion. Management expressed confidence that its strategy of investing in new capabilities, deepening client relationships, and expanding the platform positions Franklin Templeton to deliver sustainable organic growth and create long-term value.

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BEN YoY Financials

Q3 2026 vs Q3 2025, source: SEC Filings

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BEN Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 26 Q3 26
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BEN Revenue by Geography

Regional revenue distribution

“Our third quarter results reflect the successful execution of our strategy and the strength of Franklin Templeton's diversified global platform. We delivered $18.4 billion in long-term net inflows across public and private assets, bringing fiscal year-to-date long-term net inflows to $63.3 billion. During the quarter, we generated positive net flows across every asset class and geography, demonstrating the breadth of our investment capabilities and the strength of our global distribution platform. Assets under management grew to a record $1.8 trillion. These results reinforce that our strategy is driving broad-based growth across the business.”

— Jenny Johnson, Q3 2026 Earnings Press Release

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