Franklin Resources said it posted a net loss of $84.7 million for the fourth quarter ended September 30, 2024, or $0.19 per diluted share, and an operating loss of $150.7 million. Net income was $174.0 million in the prior quarter and $295.5 million in the year-earlier quarter.

1. 01

   Franklin Resources said it posted a net loss of $84.7 million for the fourth quarter ended September 30, 2024, or $0.19 per diluted share, and an operating loss of $150.7 million. Net income was $174.0 million in the prior quarter and $295.5 million in the year-earlier quarter.

2. 02

   The company said it recorded an impairment of $389.2 million in the quarter ended September 30, 2024 on an indefinite-lived intangible asset tied to certain mutual fund contracts managed by Western Asset Management.

3. 03

   On a non-GAAP basis, the company said adjusted net income for the quarter ended September 30, 2024 was $315.2 million and adjusted diluted earnings per share was $0.59. The prior quarter was $326.4 million and $0.60, and the year-earlier quarter was $427.0 million and $0.84.

4. 04

   The company said total AUM was $1,678.6 billion as of September 30, 2024, up $32.0 billion during the quarter. Long-term net outflows for the same quarter were $31.3 billion, including $37.0 billion of net outflows at Western Asset Management.

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Original filing

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