Equity Profile

BEN

Franklin Resources, Inc.

FinancialsAsset Management & Custody Banks$17.1B

Apr24Thu

Pre-Earnings Brief

UpcomingQ3-2026Pre-Market9:00 AM EDT

Company Snapshot

Franklin Resources, Inc. (BEN) is a financial services company that specializes in asset management and custody banking....

Key Metrics to Watch

Assets Under Management (AUM)

AUM is a key indicator of the company's size and ability to generate revenue from management fees.

Expected to show growth compared to previous quarters.

Net Flows

Positive net flows indicate that more money is coming into the funds than going out, which is vital for future revenue growth.

Expected to be positive this quarter.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BEN Q3-2026 Earnings Preview

Context

Company Snapshot

Franklin Resources, Inc. (BEN) is a financial services company that specializes in asset management and custody banking. With a market cap of $17 billion, it plays a significant role in managing investments for clients, including individuals and institutions, which is crucial in today's economic environment where investment strategies are increasingly important.

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+11.90%

Avg Stock Reaction

+2.11%

Last Quarter Recap

In Q2-2026, Franklin Resources reported an EPS of $0.71, exceeding expectations by 29.56%. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Management committed to focusing on enhancing client relationships.
They emphasized plans to improve operational efficiency.
Management mentioned ongoing efforts to expand their investment product offerings.

Expectations

Wall Street Expectations

Overall, expectations are mixed as investors look for continued growth in AUM and net flows. The company has a strong track record of beating EPS estimates, which could set the stage for another positive surprise.

Bull Case

If Franklin Resources continues its trend of strong earnings surprises, it could see a significant uptick in stock price as investor confidence grows.

Bear Case

On the other hand, if net flows are negative or AUM growth slows, it could lead to a decline in stock price as investors reassess the company's growth potential.

Key Metrics to Watch

Assets Under Management (AUM)

Expected to show growth compared to previous quarters.

AUM is a key indicator of the company's size and ability to generate revenue from management fees.

Net Flows

Expected to be positive this quarter.

Positive net flows indicate that more money is coming into the funds than going out, which is vital for future revenue growth.

Earnings Per Share (EPS)

Expected to be around $0.71.

EPS is a direct measure of profitability and is closely watched by investors.

Expectations

Two Questions That Matter

The print will turn on these two things.

What are the net flows for the quarter?

Net flows will indicate the company's ability to attract new investments, which is crucial for future revenue growth.

How has AUM changed compared to last quarter?

Changes in AUM will reflect the company's market position and overall performance in asset management.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for strong net flows given recent market trends favoring active management strategies.

Supporting Evidence

Franklin's recent performance shows a consistent ability to attract new investments, which may not be fully reflected in current estimates.

The options market is pricing a smaller move than historical averages, suggesting a potential mispricing of volatility.

The company's strong track record of beating EPS estimates indicates that analysts may be too conservative.

Key Risk

If net flows exceed expectations, it could significantly alter the market's perception of Franklin's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the company's ability to maintain or grow its assets under management and attract new investments.

Bull Confirmed If

AUM growth of over 5% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in AUM or negative net flows would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±2.32%

Historical Avg

±4.7%

Pricing cheap

The options market is pricing in a modest move, suggesting that traders expect limited volatility around the earnings announcement.

Options are pricing ±2.3% while BEN has averaged ±4.7% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

31.5%

Calls (10K)P/C Ratio: 1.07Puts (20K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Franklin Resources beats expectations, history suggests a potential stock increase of around 2.88%, confirming strong investor confidence.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further commentary on future growth.

Miss

A miss could lead to a decline in stock price, with history suggesting an average drop of around 3.26%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on net flows and client acquisition strategies.
2Any changes in AUM and the factors driving those changes.
3Management's outlook on market conditions and investment trends.
4Details on new product offerings and their expected impact.
5Insights into operational efficiencies and cost management efforts.

See the full picture

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Company Snapshot

Franklin Resources, Inc. (BEN) is a financial services company that specializes in asset management and custody banking....

Key Metrics to Watch

Assets Under Management (AUM)

AUM is a key indicator of the company's size and ability to generate revenue from management fees.

Expected to show growth compared to previous quarters.

Net Flows

Positive net flows indicate that more money is coming into the funds than going out, which is vital for future revenue growth.

Expected to be positive this quarter.

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

BEN Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

75%

Avg EPS Surprise

+11.90%

Avg Stock Reaction

+2.11%

Last Quarter Recap

In Q2-2026, Franklin Resources reported an EPS of $0.71, exceeding expectations by 29.56%. The stock reacted positively, gaining 6.86% the following day.

Management Promises & Guidance

Management committed to focusing on enhancing client relationships.
They emphasized plans to improve operational efficiency.
Management mentioned ongoing efforts to expand their investment product offerings.

Expectations

Wall Street Expectations

Bull Case

If Franklin Resources continues its trend of strong earnings surprises, it could see a significant uptick in stock price as investor confidence grows.

Bear Case

On the other hand, if net flows are negative or AUM growth slows, it could lead to a decline in stock price as investors reassess the company's growth potential.

Key Metrics to Watch

Assets Under Management (AUM)

Expected to show growth compared to previous quarters.

AUM is a key indicator of the company's size and ability to generate revenue from management fees.

Net Flows

Expected to be positive this quarter.

Positive net flows indicate that more money is coming into the funds than going out, which is vital for future revenue growth.

Earnings Per Share (EPS)

Expected to be around $0.71.

EPS is a direct measure of profitability and is closely watched by investors.

Expectations

Two Questions That Matter

The print will turn on these two things.

What are the net flows for the quarter?

Net flows will indicate the company's ability to attract new investments, which is crucial for future revenue growth.

How has AUM changed compared to last quarter?

Changes in AUM will reflect the company's market position and overall performance in asset management.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may underestimate the potential for strong net flows given recent market trends favoring active management strategies.

Supporting Evidence

Franklin's recent performance shows a consistent ability to attract new investments, which may not be fully reflected in current estimates.

The options market is pricing a smaller move than historical averages, suggesting a potential mispricing of volatility.

The company's strong track record of beating EPS estimates indicates that analysts may be too conservative.

Key Risk

If net flows exceed expectations, it could significantly alter the market's perception of Franklin's growth potential.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on the company's ability to maintain or grow its assets under management and attract new investments.

Bull Confirmed If

AUM growth of over 5% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in AUM or negative net flows would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±2.32%

Historical Avg

±4.7%

Pricing cheap

The options market is pricing in a modest move, suggesting that traders expect limited volatility around the earnings announcement.

Options are pricing ±2.3% while BEN has averaged ±4.7% over the last 8 prints — setup is pricing cheap.

Detail

ATM IV

0.3%

30d HV

31.5%

Calls (10K)P/C Ratio: 1.07Puts (20K)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Franklin Resources beats expectations, history suggests a potential stock increase of around 2.88%, confirming strong investor confidence.

In-Line / Cautious

If results are in line with expectations, the stock may see a muted reaction as investors await further commentary on future growth.

Miss

A miss could lead to a decline in stock price, with history suggesting an average drop of around 3.26%.

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on net flows and client acquisition strategies.
2Any changes in AUM and the factors driving those changes.
3Management's outlook on market conditions and investment trends.
4Details on new product offerings and their expected impact.
5Insights into operational efficiencies and cost management efforts.