- Franklin Resources reported third quarter results, with operating income increasing 2% from the prior quarter to $770 million and an operating margin of 38.0% year-to-date.
- Fixed income fund outflows showed improvement while alternative strategies funds gained over $600 million in net new flows.
- The company returned $1.4 billion to shareholders over the last 12 months through stock repurchases and dividends, repurchasing 4.3 million shares last quarter.
- A majority of US and global equity assets outperformed peers over 3, 5 and 10 year periods, while fixed income relative performance remained strong across 1, 3, 5 and 10 year periods.
- Franklin Resources reported second quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Net flows improved in U.S. and global equities as well as U.S. fixed income. The institutional business saw record long-term sales and the High Net Worth business achieved record net new flows.
- Operating income was $758 million on $2 billion in revenue. Expenses kept pace with revenues as the company maintained expense discipline. The company also repurchased shares and issued new notes.
- Franklin Resources reported preliminary fourth quarter and fiscal year results, with record revenue, operating income, and net income for both periods. However, outflows from some equity products were offset by stronger inflows into fixed income.
- Long-term relative investment performance remains strong across equity, hybrid, and fixed income strategies, with two Templeton funds upgraded to 5-star ratings.
- The company repurchased $923 million of shares and paid dividends for the fiscal year and is no longer subject to regulation as a bank holding company.
- Franklin Resources reported record quarterly assets under management of $920.5 billion, a 13% increase from the prior year.
- Long-term net new flows rebounded to $2.5 billion for the quarter, with hybrid products attracting $3.1 billion. Fixed-income flows improved to $1.2 billion.
- Operating income for the quarter was $787 million and the fiscal year-to-date operating margin was 37.7%. The company repurchased 2.4 million shares during the quarter.
The document contains an agenda for a Franklin Templeton Investments conference. The agenda lists the scheduled presentations and panel discussions throughout the day-long conference, including topics like "Persistence and Perspective", "Built on a Strong Domestic Foundation", and "Delivering Shareholder Value". It also includes forward-looking statements and information about Franklin Templeton.
Franklin Resources, Inc. announced its financial results for the first quarter of fiscal year 2016, ending December 31, 2015. Net income was $447.8 million, down 21% from the same quarter last year. Total assets under management decreased 1% from the previous quarter to $763.9 billion, due to $20.6 billion in net outflows, partially offset by $15 billion in market appreciation. The company repurchased $404.1 million of its own stock during the quarter.
Franklin Resources reported first quarter results. Total AUM was $720 billion as of December 31, 2016. The regular quarterly dividend was increased 11% to $0.20 per share, marking the 33rd consecutive annual dividend increase. Diluted earnings per share for the quarter was $0.77. Franklin Resources continues to invest in new product offerings and returned over $1.6 billion to shareholders over the past 12 months through dividends and share repurchases.
- Franklin Resources reported second quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Performance of some large strategies weighed on overall performance and flows, though some signs of improvement were seen late in the quarter.
- Net long-term outflows were $24.1 billion for the quarter, with global/international equity and fixed income seeing the largest outflows.
- The company remains focused on investing for future growth, including launching new funds and expanding its local presence in countries like Poland.
Franklin Resources reported first quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting. The company experienced strong institutional inflows, with the Franklin Income Fund attracting its 12th consecutive quarter of positive flows. Earnings were $782 million on $2 billion of revenue. The board declared a 25% dividend increase and a special dividend. The company repurchased shares to offset equity awards. Most funds continue outperforming peers over 3, 5, and 10 years.
- Franklin Resources reported second quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Net flows improved in U.S. and global equities as well as U.S. fixed income. The institutional business saw record long-term sales and the High Net Worth business achieved record net new flows.
- Operating income was $758 million on $2 billion in revenue. Expenses kept pace with revenues as the company maintained expense discipline. The company also repurchased shares and issued new notes.
- Franklin Resources reported preliminary fourth quarter and fiscal year results, with record revenue, operating income, and net income for both periods. However, outflows from some equity products were offset by stronger inflows into fixed income.
- Long-term relative investment performance remains strong across equity, hybrid, and fixed income strategies, with two Templeton funds upgraded to 5-star ratings.
- The company repurchased $923 million of shares and paid dividends for the fiscal year and is no longer subject to regulation as a bank holding company.
- Franklin Resources reported record quarterly assets under management of $920.5 billion, a 13% increase from the prior year.
- Long-term net new flows rebounded to $2.5 billion for the quarter, with hybrid products attracting $3.1 billion. Fixed-income flows improved to $1.2 billion.
- Operating income for the quarter was $787 million and the fiscal year-to-date operating margin was 37.7%. The company repurchased 2.4 million shares during the quarter.
The document contains an agenda for a Franklin Templeton Investments conference. The agenda lists the scheduled presentations and panel discussions throughout the day-long conference, including topics like "Persistence and Perspective", "Built on a Strong Domestic Foundation", and "Delivering Shareholder Value". It also includes forward-looking statements and information about Franklin Templeton.
Franklin Resources, Inc. announced its financial results for the first quarter of fiscal year 2016, ending December 31, 2015. Net income was $447.8 million, down 21% from the same quarter last year. Total assets under management decreased 1% from the previous quarter to $763.9 billion, due to $20.6 billion in net outflows, partially offset by $15 billion in market appreciation. The company repurchased $404.1 million of its own stock during the quarter.
Franklin Resources reported first quarter results. Total AUM was $720 billion as of December 31, 2016. The regular quarterly dividend was increased 11% to $0.20 per share, marking the 33rd consecutive annual dividend increase. Diluted earnings per share for the quarter was $0.77. Franklin Resources continues to invest in new product offerings and returned over $1.6 billion to shareholders over the past 12 months through dividends and share repurchases.
- Franklin Resources reported second quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Performance of some large strategies weighed on overall performance and flows, though some signs of improvement were seen late in the quarter.
- Net long-term outflows were $24.1 billion for the quarter, with global/international equity and fixed income seeing the largest outflows.
- The company remains focused on investing for future growth, including launching new funds and expanding its local presence in countries like Poland.
Franklin Resources reported first quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting. The company experienced strong institutional inflows, with the Franklin Income Fund attracting its 12th consecutive quarter of positive flows. Earnings were $782 million on $2 billion of revenue. The board declared a 25% dividend increase and a special dividend. The company repurchased shares to offset equity awards. Most funds continue outperforming peers over 3, 5, and 10 years.
- The document is a corporate presentation for AuRico Metals that outlines its Kemess underground development project and royalty portfolio.
- AuRico has a strong balance sheet with $26M cash and no debt, and sees catalysts from an upcoming PEA on Kemess East and royalty updates.
- The portfolio includes producing royalties on mines such as Young-Davidson, Fosterville, and Hemlo-Williams, and development stage royalties were recently acquired.
Franklin Resources, Inc. provided a preliminary report of its fourth quarter and fiscal year 2016 financial results. Some key points included:
- Relative investment performance improved across equity, hybrid, and fixed income asset classes over the 1-, 3-, 5-, and 10-year periods.
- International retail and US fixed income flows improved while global/international equity and fixed income redemptions remained high.
- The fiscal year payout totaled $1.7 billion, over 100% of net income, through cash dividends and share repurchases.
The document appears to be a transcript from an investor day panel discussion at Franklin Templeton Investments. It includes required disclosures about forward-looking statements, a list of panel participants who are senior executives and portfolio managers at Franklin Templeton, and indicates the panels will discuss how Franklin Templeton is built on a strong domestic foundation and how it operates globally with local expertise while growing alternative strategies and solutions.
Franklin Resources reported second quarter results for fiscal year 2017. Total revenue was $1.6 billion for the quarter, generating $556 million in operating income. Diluted earnings per share were $0.74. Relative investment performance has rebounded for many strategies, with 84% of equity and hybrid fund assets in the top two quartiles for the past year. Sales increased over 24% from the previous quarter, driven by a significant improvement in retail channels, particularly offshore where net flows turned positive. The company also announced organizational changes to strengthen its investment capabilities and better meet evolving client needs.
- Franklin Resources reported third quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Relative investment performance improved across major categories over the past year. Equity and hybrid product performance also improved over 1, 3, 5, and 10 year periods.
- Redemptions continued to slow and long-term net outflows broadly improved over the last four quarters.
- Franklin Resources reported first quarter results, with Greg Johnson, Chairman and CEO, and Ken Lewis, CFO, providing commentary.
- The company highlighted a new head of global ETFs and plans to launch Franklin LibertyQ strategic beta ETFs. It also announced a 20% increase to the quarterly dividend.
- Franklin Resources repurchased over 10 million shares in the quarter to offset share issuance from equity awards, while cost savings initiatives decreased expenses 6% versus a year ago. The operating margin remained strong at 37.2% for the quarter.
Iron Mountain reported third quarter 2016 earnings that were in line with its strategic plan for growth. Total revenues increased year-over-year to $943 million, driven primarily by the acquisition of Recall Holdings. Adjusted OIBDA increased 30.5% year-over-year on a constant currency basis. Iron Mountain also achieved $68 million in annualized Recall synergies and made progress on its goals for emerging markets and adjacent businesses. For the full year 2016, Iron Mountain updated its FFO guidance and introduced preliminary guidance for 2017, reflecting the continued stability and growth of its core storage business.
The document summarizes DuPont's third quarter 2016 earnings conference call. Key points include:
- Revenue increased 1% to $4.9 billion due to 3% volume growth, offset by a 2% decline in local price and product mix.
- Operating earnings increased 162% to $0.34 per share, excluding significant items and non-operating pension costs.
- Segment operating earnings increased 40% to $607 million, driven by cost savings and volume growth across most segments.
- For full-year 2016, DuPont expects GAAP EPS of around $2.71, up 30%, and operating EPS of $3.25, up 17% from prior guidance.
- Western Union reported Q3 2016 revenue of $1.38 billion, down 2% from Q3 2015 or up 2% on a constant currency basis.
- Operating margin was 20.2% compared to 21.8% in Q3 2015, impacted by a $15 million FTC accrual.
- Full year 2016 revenue outlook was narrowed to approximately 3% growth on a constant currency basis and EPS outlook was affirmed at $1.60 to $1.70.
- SemGroup reported third quarter 2016 results with Adjusted EBITDA of $71.3 million, down from $77.7 million in the first quarter of 2016. Net income was a loss of $7.4 million.
- For full year 2016, SemGroup updated capital expenditures guidance to $350 million, a $100 million reduction due to timing of the Maurepas pipeline project.
- SemGroup has a strong balance sheet with $1.1 billion in liquidity and a leverage ratio of 3.0x at the end of the third quarter, within its target leverage of below 4.5x.
- SunTrust Banks reported a net loss of $875.4 million or $2.49 per share for the first quarter of 2009, driven by a $1.1 billion goodwill impairment charge. Excluding this charge, the net loss was $160.6 million or $0.46 per share.
- Total revenues increased from the previous quarter due to strong mortgage origination income, but net interest income declined and economically sensitive fee income was lower. Deposits grew 5% from the previous quarter to a record $107.5 billion.
- Asset quality deteriorated with net charge-offs increasing 10% from the previous quarter, while the allowance for loan losses was increased to 2.21
Cpi card group presentation june 2016 final webcpi2016ir
The document discusses forward-looking statements and disclaimers, non-GAAP financial measures, and the card payment solutions industry. It provides the following information:
- The document contains forward-looking statements that are based on estimates and assumptions that could cause actual results to differ materially.
- It discusses non-GAAP financial measures like Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow that should not be considered alternatives to GAAP measures.
- CPI is a leading provider of card payment solutions in North America with the number one position in several US markets and long-term customer relationships.
The document provides an overview of OUTFRONT Media's assets and business model as a REIT. It details the company's primary asset types which include billboards, digital displays, posters, and transit assets. It also summarizes the company's top market locations and timeline of becoming a publicly-traded REIT after its split from CBS Corporation in 2014.
This document provides an overview of RioCan's third quarter 2016 results and financial position:
- Funds from operations increased year-over-year driven by growth in net operating income. Occupancy rates also improved across the portfolio.
- RioCan acquired over $1.2 billion in properties in Canada since last year and completed a debenture offering at a historically low interest rate.
- Financial metrics like interest coverage and leverage remain conservative and RioCan maintains a staggered debt maturity schedule with low floating rate exposure.
November 2016 general investor presentation v finalirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams by geography, product class, and business line. The document also highlights BGC's strong track record of growth, liquidity position, and opportunities from acquisitions and rising interest rates. Financial tables show year-over-year growth in distributable earnings for the third quarter of 2016.
SemGroup held an earnings conference call on August 5, 2016 to discuss its second quarter 2016 results. The call began with forward-looking statements and information regarding SemGroup and Rose Rock Midstream's use of social media. SemGroup reported adjusted EBITDA of $67.6 million for the quarter, down from $77.7 million in the previous quarter. Rose Rock Midstream reported adjusted EBITDA of $44.9 million, down from $49 million in the first quarter of 2016. SemGroup and Rose Rock maintained strong liquidity with over $720 million and $514 million respectively available.
Aon plc provides an investor relations overview document that discusses its industry-leading franchise focused on risk, retirement, and health. It operates in growing markets and has positioned itself to create further shareholder value. Aon has focused its portfolio, invested in global capabilities, delivered strong financial results and free cash flow, and consistently outperformed peers in total shareholder returns. It sees opportunities to significantly increase free cash flow generation through operational improvements and has financial flexibility to effectively allocate capital.
This document provides an overview of SemGroup's non-GAAP financial measures, forward-looking statements, and strategy for creating shareholder value. It discusses SemGroup's stable cash flows derived from long-term contracts and investment-grade counterparties. The presentation also outlines SemGroup's crude oil and natural gas assets located in key North American basins and its strategy to pursue organic growth and strategic acquisitions.
Jefferies 2014 Global Industrials Conference slidesOshkosh_Investors
Oshkosh Corporation provides an investor handout for their 2014 Global Industrials Conference presentation. They are a leading global provider of specialty vehicles, with four business segments: Access Equipment, Defense, Fire & Emergency, and Commercial. For fiscal year 2014, they expect revenues of $6.7-6.75 billion and adjusted EPS of $3.40-3.55. Their non-defense segments are growing and expected to become the majority of revenue by 2015 as their transformation strategy, MOVE, takes effect across the company.
- Oshkosh Corporation reported third quarter fiscal year 2016 earnings per share of $1.13, equal to the prior year result. Higher sales in the defense and fire & emergency segments and improved margins contributed to the flat EPS.
- For full-year 2016, the company increased its EPS outlook to a range of $2.60 to $2.80, driven by progress on an international order for M-ATVs and stronger expected performance in the fire & emergency segment, partially offset by lower access equipment margins.
- Backlogs increased in the defense and fire & emergency segments compared to the prior year and the company expects to generate around $400 million in free cash flow for fiscal year 2016.
Baird conference investor presentation final wo video wo notes.ptxOshkosh_Investors
The document discusses Oshkosh Corporation's presentation at Baird's 2015 Industrial Conference on November 10, 2015. It provides an overview of Oshkosh, including that it is a leading provider of specialty vehicles, has nearly 100 years in business, and focuses on delivering value to customers and shareholders. It also summarizes Oshkosh's FY15 results, expectations for FY16, and the MOVE strategy, which focuses on margin improvement, new product launches, and competing globally. Oshkosh expects defense to drive growth through international M-ATV sales and its historic JLTV contract award.
- Oshkosh Corporation reported lower first quarter earnings compared to the previous year, with EPS of $0.19 versus $0.41, largely due to lower sales and results in the access equipment segment.
- For the full fiscal year, the company updated EPS guidance to a range of $2.20 to $2.60, reflecting timing delays of large international orders and lower expectations for the access equipment segment.
- Segment results were mixed, with improved performance in fire & emergency and defense offset by weakness in access equipment and caution in the commercial segment.
- The document is a corporate presentation for AuRico Metals that outlines its Kemess underground development project and royalty portfolio.
- AuRico has a strong balance sheet with $26M cash and no debt, and sees catalysts from an upcoming PEA on Kemess East and royalty updates.
- The portfolio includes producing royalties on mines such as Young-Davidson, Fosterville, and Hemlo-Williams, and development stage royalties were recently acquired.
Franklin Resources, Inc. provided a preliminary report of its fourth quarter and fiscal year 2016 financial results. Some key points included:
- Relative investment performance improved across equity, hybrid, and fixed income asset classes over the 1-, 3-, 5-, and 10-year periods.
- International retail and US fixed income flows improved while global/international equity and fixed income redemptions remained high.
- The fiscal year payout totaled $1.7 billion, over 100% of net income, through cash dividends and share repurchases.
The document appears to be a transcript from an investor day panel discussion at Franklin Templeton Investments. It includes required disclosures about forward-looking statements, a list of panel participants who are senior executives and portfolio managers at Franklin Templeton, and indicates the panels will discuss how Franklin Templeton is built on a strong domestic foundation and how it operates globally with local expertise while growing alternative strategies and solutions.
Franklin Resources reported second quarter results for fiscal year 2017. Total revenue was $1.6 billion for the quarter, generating $556 million in operating income. Diluted earnings per share were $0.74. Relative investment performance has rebounded for many strategies, with 84% of equity and hybrid fund assets in the top two quartiles for the past year. Sales increased over 24% from the previous quarter, driven by a significant improvement in retail channels, particularly offshore where net flows turned positive. The company also announced organizational changes to strengthen its investment capabilities and better meet evolving client needs.
- Franklin Resources reported third quarter results, with Chairman and CEO Greg Johnson and CFO Ken Lewis presenting.
- Relative investment performance improved across major categories over the past year. Equity and hybrid product performance also improved over 1, 3, 5, and 10 year periods.
- Redemptions continued to slow and long-term net outflows broadly improved over the last four quarters.
- Franklin Resources reported first quarter results, with Greg Johnson, Chairman and CEO, and Ken Lewis, CFO, providing commentary.
- The company highlighted a new head of global ETFs and plans to launch Franklin LibertyQ strategic beta ETFs. It also announced a 20% increase to the quarterly dividend.
- Franklin Resources repurchased over 10 million shares in the quarter to offset share issuance from equity awards, while cost savings initiatives decreased expenses 6% versus a year ago. The operating margin remained strong at 37.2% for the quarter.
Iron Mountain reported third quarter 2016 earnings that were in line with its strategic plan for growth. Total revenues increased year-over-year to $943 million, driven primarily by the acquisition of Recall Holdings. Adjusted OIBDA increased 30.5% year-over-year on a constant currency basis. Iron Mountain also achieved $68 million in annualized Recall synergies and made progress on its goals for emerging markets and adjacent businesses. For the full year 2016, Iron Mountain updated its FFO guidance and introduced preliminary guidance for 2017, reflecting the continued stability and growth of its core storage business.
The document summarizes DuPont's third quarter 2016 earnings conference call. Key points include:
- Revenue increased 1% to $4.9 billion due to 3% volume growth, offset by a 2% decline in local price and product mix.
- Operating earnings increased 162% to $0.34 per share, excluding significant items and non-operating pension costs.
- Segment operating earnings increased 40% to $607 million, driven by cost savings and volume growth across most segments.
- For full-year 2016, DuPont expects GAAP EPS of around $2.71, up 30%, and operating EPS of $3.25, up 17% from prior guidance.
- Western Union reported Q3 2016 revenue of $1.38 billion, down 2% from Q3 2015 or up 2% on a constant currency basis.
- Operating margin was 20.2% compared to 21.8% in Q3 2015, impacted by a $15 million FTC accrual.
- Full year 2016 revenue outlook was narrowed to approximately 3% growth on a constant currency basis and EPS outlook was affirmed at $1.60 to $1.70.
- SemGroup reported third quarter 2016 results with Adjusted EBITDA of $71.3 million, down from $77.7 million in the first quarter of 2016. Net income was a loss of $7.4 million.
- For full year 2016, SemGroup updated capital expenditures guidance to $350 million, a $100 million reduction due to timing of the Maurepas pipeline project.
- SemGroup has a strong balance sheet with $1.1 billion in liquidity and a leverage ratio of 3.0x at the end of the third quarter, within its target leverage of below 4.5x.
- SunTrust Banks reported a net loss of $875.4 million or $2.49 per share for the first quarter of 2009, driven by a $1.1 billion goodwill impairment charge. Excluding this charge, the net loss was $160.6 million or $0.46 per share.
- Total revenues increased from the previous quarter due to strong mortgage origination income, but net interest income declined and economically sensitive fee income was lower. Deposits grew 5% from the previous quarter to a record $107.5 billion.
- Asset quality deteriorated with net charge-offs increasing 10% from the previous quarter, while the allowance for loan losses was increased to 2.21
Cpi card group presentation june 2016 final webcpi2016ir
The document discusses forward-looking statements and disclaimers, non-GAAP financial measures, and the card payment solutions industry. It provides the following information:
- The document contains forward-looking statements that are based on estimates and assumptions that could cause actual results to differ materially.
- It discusses non-GAAP financial measures like Adjusted EBITDA, Adjusted Net Income, and Adjusted Free Cash Flow that should not be considered alternatives to GAAP measures.
- CPI is a leading provider of card payment solutions in North America with the number one position in several US markets and long-term customer relationships.
The document provides an overview of OUTFRONT Media's assets and business model as a REIT. It details the company's primary asset types which include billboards, digital displays, posters, and transit assets. It also summarizes the company's top market locations and timeline of becoming a publicly-traded REIT after its split from CBS Corporation in 2014.
This document provides an overview of RioCan's third quarter 2016 results and financial position:
- Funds from operations increased year-over-year driven by growth in net operating income. Occupancy rates also improved across the portfolio.
- RioCan acquired over $1.2 billion in properties in Canada since last year and completed a debenture offering at a historically low interest rate.
- Financial metrics like interest coverage and leverage remain conservative and RioCan maintains a staggered debt maturity schedule with low floating rate exposure.
November 2016 general investor presentation v finalirbgcpartners
This document provides an overview of BGC Partners, Inc., a global brokerage company with two business segments: Financial Services and Real Estate Services. It discusses BGC's diversified revenue streams by geography, product class, and business line. The document also highlights BGC's strong track record of growth, liquidity position, and opportunities from acquisitions and rising interest rates. Financial tables show year-over-year growth in distributable earnings for the third quarter of 2016.
SemGroup held an earnings conference call on August 5, 2016 to discuss its second quarter 2016 results. The call began with forward-looking statements and information regarding SemGroup and Rose Rock Midstream's use of social media. SemGroup reported adjusted EBITDA of $67.6 million for the quarter, down from $77.7 million in the previous quarter. Rose Rock Midstream reported adjusted EBITDA of $44.9 million, down from $49 million in the first quarter of 2016. SemGroup and Rose Rock maintained strong liquidity with over $720 million and $514 million respectively available.
Aon plc provides an investor relations overview document that discusses its industry-leading franchise focused on risk, retirement, and health. It operates in growing markets and has positioned itself to create further shareholder value. Aon has focused its portfolio, invested in global capabilities, delivered strong financial results and free cash flow, and consistently outperformed peers in total shareholder returns. It sees opportunities to significantly increase free cash flow generation through operational improvements and has financial flexibility to effectively allocate capital.
This document provides an overview of SemGroup's non-GAAP financial measures, forward-looking statements, and strategy for creating shareholder value. It discusses SemGroup's stable cash flows derived from long-term contracts and investment-grade counterparties. The presentation also outlines SemGroup's crude oil and natural gas assets located in key North American basins and its strategy to pursue organic growth and strategic acquisitions.
Jefferies 2014 Global Industrials Conference slidesOshkosh_Investors
Oshkosh Corporation provides an investor handout for their 2014 Global Industrials Conference presentation. They are a leading global provider of specialty vehicles, with four business segments: Access Equipment, Defense, Fire & Emergency, and Commercial. For fiscal year 2014, they expect revenues of $6.7-6.75 billion and adjusted EPS of $3.40-3.55. Their non-defense segments are growing and expected to become the majority of revenue by 2015 as their transformation strategy, MOVE, takes effect across the company.
- Oshkosh Corporation reported third quarter fiscal year 2016 earnings per share of $1.13, equal to the prior year result. Higher sales in the defense and fire & emergency segments and improved margins contributed to the flat EPS.
- For full-year 2016, the company increased its EPS outlook to a range of $2.60 to $2.80, driven by progress on an international order for M-ATVs and stronger expected performance in the fire & emergency segment, partially offset by lower access equipment margins.
- Backlogs increased in the defense and fire & emergency segments compared to the prior year and the company expects to generate around $400 million in free cash flow for fiscal year 2016.
Baird conference investor presentation final wo video wo notes.ptxOshkosh_Investors
The document discusses Oshkosh Corporation's presentation at Baird's 2015 Industrial Conference on November 10, 2015. It provides an overview of Oshkosh, including that it is a leading provider of specialty vehicles, has nearly 100 years in business, and focuses on delivering value to customers and shareholders. It also summarizes Oshkosh's FY15 results, expectations for FY16, and the MOVE strategy, which focuses on margin improvement, new product launches, and competing globally. Oshkosh expects defense to drive growth through international M-ATV sales and its historic JLTV contract award.
- Oshkosh Corporation reported lower first quarter earnings compared to the previous year, with EPS of $0.19 versus $0.41, largely due to lower sales and results in the access equipment segment.
- For the full fiscal year, the company updated EPS guidance to a range of $2.20 to $2.60, reflecting timing delays of large international orders and lower expectations for the access equipment segment.
- Segment results were mixed, with improved performance in fire & emergency and defense offset by weakness in access equipment and caution in the commercial segment.
- Oshkosh Corporation reported financial results for the fourth quarter of fiscal year 2015, with adjusted EPS of $0.67, in line with revised expectations. The defense segment recovery is underway with restarted FHTV sales and an international contract for 273 M-ATVs. However, access equipment demand declined more than expected due to impacts from weather and oil/gas. For fiscal year 2016, the company estimates adjusted EPS in the range of $3.00 to $3.40.
Oshkosh Corporation provides an overview of its business segments and financial expectations. The company focuses on driving performance through its MOVE strategy, which supports higher margin targets. In the near term, the defense segment is expected to drive growth from the JLTV ramp up. The access equipment segment faces challenges but long-term trends remain positive. Fire & emergency and commercial segments will continue improving performance. The company expects solid earnings and free cash flow, allowing for reinvestment and return of capital to shareholders.
Credit suisse conference fireside chat final wo video or notesOshkosh_Investors
Oshkosh Corporation is a leading manufacturer of specialty vehicles and vehicle bodies. In fiscal year 2015, its largest segments were access equipment (lifts, cranes), defense vehicles, fire & emergency vehicles, and commercial trucks. It is focused on executing its MOVE strategy to improve margins across segments. While some segments face near-term challenges, the company expects growth in defense and overall performance improvement in the second half of fiscal year 2016. It is pursuing international defense opportunities and anticipates retaining its recent $6.7 billion JLTV contract award.
Oshkosh Corporation held an analyst day on September 23, 2016 to provide an overview of the company's strategy and outlook. The presentation discussed Oshkosh's MOVE strategy which has delivered strong operational results through cost reductions and new product launches. It outlined the company's diverse end markets, integrated operations, and plans to continue growing internationally and through innovation. Oshkosh expects revenue, operating income and EPS to increase in fiscal 2017 driven by recovery in defense markets, fire and emergency, and commercial segments.
Oshkosh Corporation provides an overview of its business segments and financial expectations. The defense segment is expected to drive growth due to the ramp up of JLTV production and international M-ATV contracts. While near-term challenges exist in access equipment due to inventory reductions, long-term trends remain positive. Improvement is also anticipated in the fire and emergency and commercial segments. The company expects to generate solid earnings and free cash flow in fiscal year 2016, allowing for continued investment in its businesses and return of capital to shareholders.
Wilson R. Jones, President and CEO of Oshkosh Corporation, presented the company's financial results for the second quarter of fiscal year 2016. Key points included:
- Quarterly earnings per share of $0.76 exceeded expectations due to tax benefits and strong performance.
- Sales were lower than the previous year in the access equipment segment but higher in defense, fire & emergency, and commercial.
- The outlook for the fiscal year was increased to earnings per share between $2.30 to $2.70, driven by an improved tax rate and higher defense estimates.
- Performance is expected to be stronger in the second half of the fiscal year across most segments.
Oshkosh Corporation reported financial results for the first quarter of fiscal year 2015. Net sales were $1.353 billion, an 11.6% decrease from the previous year. Adjusted earnings per share were $0.41, down 34.9% from the prior year. The defense segment saw a large drop in sales and operating income due to lower US DoD orders and prior year international vehicle sales. Access equipment and commercial segments saw higher sales volumes. The company maintained its fiscal year 2015 adjusted EPS guidance range of $4.00-$4.25 despite expected negative foreign exchange impacts.
Jefferies 2014 Global Industrials Conference slidesOshkosh_Investors
Oshkosh Corporation provides an investor handout for their 2014 Global Industrials Conference presentation. They are a leading global provider of specialty vehicles, with four business segments: Access Equipment, Defense, Fire & Emergency, and Commercial. For fiscal year 2014, they expect revenues of $6.7-6.75 billion and adjusted EPS of $3.40-3.55. Their non-defense segments are growing and expected to become the majority of revenue by 2015, as they implement their MOVE strategy to transform the company.
This document provides an earnings report for Oshkosh Corporation for the fourth quarter of fiscal year 2014. It summarizes key financial results including adjusted earnings per share of $0.96, above the prior year and expectations. For fiscal year 2015, the company estimates adjusted earnings per share will be between $4.00-$4.25. The report also outlines expectations and initiatives for each of the company's business segments in the coming year.
8 23-16 invest m-nt conf august 16, 2016 investor handoutOshkosh_Investors
This document provides an investor handout from Oshkosh Corporation for August 2016. It includes the following key points:
- Oshkosh Corporation expects solid earnings and free cash flow in fiscal year 2016, allowing it to continue returning capital to shareholders through dividends and share repurchases.
- The defense, fire and emergency, and commercial segments are expected to drive growth, while access equipment faces near-term challenges from cautious customer demand.
- For fiscal year 2016, Oshkosh Corporation increases its earnings per share guidance to a range of $2.60 to $2.80, up from its previous outlook.
Oshkosh Corporation provides an overview of its MOVE strategy to transform into a global industrial company focused on non-defense segments by fiscal year 2015. The company expects non-defense sales to become the significant majority of revenue in FY15, with revenue growth in all non-defense segments as construction markets recover. Oshkosh also notes opportunities in the defense segment and expects to achieve its FY15 target adjusted EPS range of $4.00 - $4.25, supporting its goal to double EPS from fiscal year 2012 levels. The company aims to continue expanding operating income margins across its segments.
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Franklin resources Q3 2015
1. Franklin Resources, Inc.
Third Quarter Results
Greg Johnson
Chairman and Chief Executive Officer
Ken Lewis
Chief Financial Officer
July 29, 2015
2. Statements in this presentation regarding Franklin Resources, Inc. (“Franklin”) and its subsidiaries, which are not historical facts, are "forward-looking statements" within the meaning of
the U.S. Private Securities Litigation Reform Act of 1995. When used in this presentation, words or phrases generally written in the future tense and/or preceded by words such as “will,”
“may,” “could,” “expect,” “believe,” “anticipate,” “intend,” “plan,” “seek,” “estimate” or other similar words are forward-looking statements. Forward-looking statements involve a number of
known and unknown risks, uncertainties and other important factors, some of which are listed below, that could cause actual results and outcomes to differ materially from any future
results or outcomes expressed or implied by such forward-looking statements. While forward-looking statements are our best prediction at the time that they are made, you should not rely
on them, and you are hereby cautioned against doing so. Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and
other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict.
They are neither statements of historical fact nor guarantees or assurances of future performance.
These and other risks, uncertainties and other important factors are described in more detail in Franklin’s recent filings with the U.S. Securities and Exchange Commission, including,
without limitation, in Risk Factors and Management’s Discussion and Analysis of Financial Condition and Results of Operations in Franklin’s Annual Report on Form 10-K for the fiscal
year ended September 30, 2014 and Franklin’s subsequent Quarterly Reports on Form 10-Q: (1) volatility and disruption of the capital and credit markets, and adverse changes in the
global economy, may significantly affect our results of operations and may put pressure on our financial results; (2) the amount and mix of our assets under management (“AUM”) are
subject to significant fluctuations; (3) we are subject to extensive, complex, overlapping and frequently changing rules, regulations and legal interpretations; (4) U.S. and international
regulatory and legislative actions and reforms have made the regulatory environment in which we operate more costly and future actions and reforms could adversely impact our financial
condition and results of operations; (5) failure to comply with the laws, rules or regulations in any of the non-U.S. jurisdictions in which we operate could result in substantial harm to our
reputation and results of operations; (6) changes in tax laws or exposure to additional income tax liabilities could have a material impact on our financial condition, results of operations
and liquidity; (7) any significant limitation, failure or security breach of our information and cyber security infrastructure, software applications, technology or other systems that are critical
to our operations could harm our operations and reputation; (8) our business operations are complex and a failure to properly perform operational tasks or the misrepresentation of our
products and services, or the termination of investment management agreements representing a significant portion of our AUM, could have an adverse effect on our revenues and
income; (9) we face risks, and corresponding potential costs and expenses, associated with conducting operations and growing our business in numerous countries; (10) we depend on
key personnel and our financial performance could be negatively affected by the loss of their services; (11) strong competition from numerous and sometimes larger companies with
competing offerings and products could limit or reduce sales of our products, potentially resulting in a decline in our market share, revenues and income; (12) changes in the third-party
distribution and sales channels on which we depend could reduce our income and hinder our growth; (13) our increasing focus on international markets as a source of investments and
sales of investment products subjects us to increased exchange rate and market-specific political, economic or other risks that may adversely impact our revenues and income generated
overseas; (14) harm to our reputation or poor investment performance of our products could reduce the level of our AUM or affect our sales, potentially negatively impacting our revenues
and income; (15) our future results are dependent upon maintaining an appropriate level of expenses, which is subject to fluctuation; (16) our ability to successfully manage and grow our
business can be impeded by systems and other technological limitations; (17) our inability to successfully recover should we experience a disaster or other business continuity problem
could cause material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability; (18) regulatory and governmental examinations and/or investigations,
litigation and the legal risks associated with our business, could adversely impact our AUM, increase costs and negatively impact our profitability and/or our future financial results; (19)
our ability to meet cash needs depends upon certain factors, including the market value of our assets, operating cash flows and our perceived creditworthiness; (20) we are dependent on
the earnings of our subsidiaries.
Any forward-looking statement made by us in this presentation speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge
from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by law.
The information in this presentation is provided solely in connection with this presentation, and is not directed toward existing or potential investment advisory clients or
fund shareholders.
Forward-Looking Statements
2
3. Audio Commentary and Conference Call Details
Pre-recorded audio commentary on the results from Franklin Resources, Inc.’s Chairman, CEO and President Greg
Johnson and CFO and Executive Vice President Ken Lewis will be available today at approximately 8:30 a.m. Eastern
Time. They will also lead a live teleconference today at 12:00 p.m. Eastern Time to answer questions of a material nature.
Analysts and investors are encouraged to review the Company’s recent filings with the U.S. Securities and Exchange
Commission and to contact Investor Relations before the live teleconference for any clarifications or questions related to
the earnings release, this presentation or the pre-recorded audio commentary.
Access to the pre-recorded audio commentary and accompanying slides are available at investors.franklinresources.com.
The pre-recorded audio commentary can also be accessed by dialing (877) 523-5612 in the U.S. and Canada or (201) 689-
8483 internationally using access code 7055790, any time through September 1, 2015.
Access to the live teleconference will be available at investors.franklinresources.com or by dialing (877) 407-8293 in the
U.S. and Canada or (201) 689-8349 internationally. A replay of the teleconference can also be accessed by calling (877)
660-6853 in the U.S. and Canada or (201) 612-7415 internationally using access code 13613217, after 2:00 p.m. Eastern
Time on July 29, 2015 through September 1, 2015.
Questions regarding the pre-recorded audio commentary or live teleconference should be directed to Franklin Resources,
Inc., Investor Relations at (650) 312-4091 or Media Relations at (650) 312-2245.
3
4. Highlights
4
Flows
• Global fixed income outflows showed improvement as redemptions decreased
• U.S. and cross-border Franklin K2 Alternative Strategies funds continue to gain traction
with combined net new flows of over $600 million.
• Operating income of $770 million increased 2% from prior quarter on flat revenue
• Fiscal year-to-date operating margin increased to 38.0%
• $1.4 billion returned to shareholders over the last 12 months via repurchases and dividends
• Repurchased 4.3 million shares at a total cost of $218 million; the highest quarterly level
since 2013
Investment
Performance
• Fixed-income relative investment performance of our U.S. retail and cross-border funds
remains strong across the 1-, 3-, 5- and 10-year periods
• Majority of U.S. and global equity assets are also beating their peer group medians for the
trailing 3-, 5- and 10-year periods
Financial
Results
Capital
Management
Business
Update
• Enhanced DCIO offerings by launching the Franklin Retirement Payout fund series, which
offers solutions for retirement income and the transition from accumulation to distribution.
8. Simple Monthly Average vs. End of Period
8
(in US$ billions, for the three months ended)
Average AUM Ending AUM
Assets Under Management Growth
902.8 912.1
894.1 881.6 882.6
920.5
898.0
880.1 880.6
866.5
6/14 9/14 12/14 3/15 6/15
9. Assets Under Management Diversification
9
Investment ObjectiveAs of June 30, 2015
(in US$ billions, for the three months ended)
67%
16%
10%
4%
3%
42%
18%
39%
1%
Jun-15 Mar-15 % Change
Equity $ 361.7 $ 367.4 (2%)
Hybrid 154.8 158.2 (2%)
Fixed-Income 343.0 348.4 (2%)
Cash Management 7.0 6.6 6%
Total $ 866.5 $ 880.6 (2%)
Jun-15 Mar-15 % Change
United States $ 578.3 $ 587.4 (2%)
Europe, the Middle
East and Africa
136.7 137.8 (1%)
Asia-Pacific 89.6 90.9 (1%)
Canada 35.2 36.1 (2%)
Latin America 26.7 28.4 (6%)
Total $ 866.5 $ 880.6 (2%)
Sales Region
10. Long-Term Flows
Long-Term Flows and Market Return Summary
10
1. Long-term net new flows are defined as long-term sales less long-term redemptions plus long-term net exchanges.
Long-Term Net New Flows1 Long-Term Sales Long-Term Redemptions
(in US$ billions, for the three months ended)
Appreciation (Depreciation) & Other
31.9
(21.4)
(12.1)
7.0
(2.1)
6/14 9/14 12/14 3/15 6/15
47.6 45.4 46.7 46.5
37.7
(45.1) (46.0)
(50.0) (51.9) (49.0)
2.5
(0.8)
(3.4) (5.3)
(11.4)
6/14 9/14 12/14 3/15 6/15
11. United States and International, Retail and
Institutional Flows
11
(in US$ billions, for the three months ended)
United States International
Retail Long-Term Sales Retail Long-Term Redemptions
Institutional Long-Term Sales Institutional Long-Term Redemptions
Graphs do not include high net worth client flows.
19.6
17.3 17.2 17.5
14.6
4.6 4.0 4.0 5.0
3.9
(17.6) (17.4)
(22.4)
(20.3) (18.9)
(4.6) (4.8) (4.0) (4.7)
(5.6)
6/14 9/14 12/14 3/15 6/15
16.0 15.3 14.4 13.7 12.3
6.9
8.4
10.1 9.2
6.4
(17.1) (16.8) (17.0)
(19.0)
(16.2)
(5.4) (5.8) (6.2)
(7.6) (7.9)
6/14 9/14 12/14 3/15 6/15
12. Flows by Investment Objective:
Global / International Equity and Fixed-Income
12
1. Sales and redemptions as a percentage of beginning assets under management are annualized.
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 17% 16%
Redemptions 21% 23%
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 29% 24%
Redemptions 28% 29%
(in US$ billions, for the three months ended)
Global / International Equity Global / International Fixed-Income
Long-Term Net New Flows Long-Term Sales Long-Term Redemptions
11.8 11.4 10.8 11.6
9.8
(13.1) (14.3) (14.2) (13.3) (14.7)
(1.2)
(2.8) (3.5)
(1.6)
(4.6)
6/14 9/14 12/14 3/15 6/15
15.6 15.0
17.6
15.9
12.9
(14.0)
(12.3)
(16.5)
(19.5)
(15.5)
1.4 2.5
0.8
(4.0) (2.9)
6/14 9/14 12/14 3/15 6/15
13. Flows by Investment Objective:
U.S. Equity and Hybrid
13
1. Sales and redemptions as a percentage of beginning assets under management are annualized.
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 19% 16%
Redemptions 23% 19%
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 20% 14%
Redemptions 16% 18%
(in US$ billions, for the three months ended)
U.S. Equity Hybrid
Long-Term Net New Flows Long-Term Sales Long-Term Redemptions
5.6
4.4
5.2 5.5 4.6
(6.0) (6.4) (6.5) (6.6)
(5.6)
(0.6)
(2.2)
(0.9) (0.6) (1.0)
6/14 9/14 12/14 3/15 6/15
8.8
8.1
7.5
6.7
5.6
(6.0) (6.1) (6.5) (6.4)
(7.3)
3.1
2.2
1.0
0.3
(1.7)
6/14 9/14 12/14 3/15 6/15
14. Flows by Investment Objective:
Tax-Free and Taxable U.S. Fixed-Income
14
1. Sales and redemptions as a percentage of beginning assets under management are annualized.
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 12% 11%
Redemptions 13% 13%
% of Beg.
AUM1
Prior 4
Quarters Avg.
Current
Quarter
Sales 26% 17%
Redemptions 26% 22%
(in US$ billions, for the three months ended)
Tax-Free Fixed-Income Taxable U.S. Fixed-Income
Long-Term Net New Flows Long-Term Sales Long-Term Redemptions
2.0 2.0 2.0
2.4 2.1
(2.4) (2.7)
(2.1) (2.2) (2.5)
(0.4) (0.7)
0.0 0.2
(0.5)
6/14 9/14 12/14 3/15 6/15
3.8
4.5
3.6
4.4
2.7
(3.6)
(4.2) (4.2) (3.9)
(3.4)
0.2 0.2
(0.8)
0.4
(0.7)
6/14 9/14 12/14 3/15 6/15
16. Quarterly Financial Highlights
16
1. Net income attributable to Franklin Resources, Inc.
Operating Income Net Income1
(in US$ millions, except per share data, for the three months ended)
Unaudited
Operating and Net Income1 Diluted Earnings Per Share
787
835
782
758 770
579
641
566
607
504
6/14 9/14 12/14 3/15 6/15
$0.92
$1.02
$0.91
$0.98
$0.82
6/14 9/14 12/14 3/15 6/15
17. Operating Revenues
17
Unaudited
(in US$ millions, for the three months ended)
Jun-15 Mar-15
Jun-15 vs.
Mar-15 Dec-14 Sep-14 Jun-14
Jun-15 vs.
Jun-14
Investment management fees $ 1,340.9 $ 1,347.6 0% $ 1,382.4 $ 1,430.7 $ 1,393.2 (4%)
Sales and distribution fees 566.8 580.0 (2%) 595.0 627.4 643.7 (12%)
Shareholder servicing fees 66.5 66.1 1% 65.8 68.3 69.0 (4%)
Other 26.6 16.1 65% 21.1 29.1 24.6 8%
Total Operating Revenues $ 2,000.8 $ 2,009.8 0% $ 2,064.3 $ 2,155.5 $ 2,130.5 (6%)
18. Operating Expenses
18
Unaudited
(in US$ millions, for the three months ended)
Jun-15 Mar-15
Jun-15 vs.
Mar-15 Dec-14 Sep-14 Jun-14
Jun-15 vs.
Jun-14
Sales, distribution and marketing $ 694.0 $ 710.5 (2%) $ 731.5 $ 755.9 $ 789.3 (12%)
Compensation and benefits 363.5 377.5 (4%) 375.5 365.9 380.7 (5%)
Information systems and technology 58.3 49.9 17% 51.2 60.8 54.3 7%
Occupancy 30.7 32.1 (4%) 34.3 36.7 34.1 (10%)
General, administrative and other 84.5 82.1 3% 89.8 100.9 85.3 (1%)
Total Operating Expenses $ 1,231.0 $ 1,252.1 (2%) $ 1,282.3 $ 1,320.2 $ 1,343.7 (8%)
19. Operating Leverage
Growing Operating Income Faster than AUM
19
Unaudited
1. Fiscal year-to date operating income is annualized for CAGR calculation. CAGR is the compound average annual growth rate over the trailing 10-year period.
1,288 1,633 2,068 2,099 1,203 1,959 2,660 2,515 2,921 3,221 2,310
Operating Income
(in US$ millions)
Average
AUM: 8.0%
CAGR
Operating
Income1:
9.1% CAGR
Operating Margin (%) vs. Average AUM (in US$ billions)
Operating Margin Average AUM
411
482
582 605
442
571
694 706
808
888 887
29.9%
32.3% 33.3%
34.8%
28.7%
33.5%
37.3%
35.4%
36.6%
37.9% 38.0%
9/05 9/06 9/07 9/08 9/09 9/10 9/11 9/12 9/13 9/14 6/15
20. Associated Financial Statement Components
($32.7) Million2 $14.3 Million
Cash and cash
equivalents,
investment
securities,
available-for-
sale and
investment
securities,
trading
Investments in
equity method
investees
Investment
securities,
available-for-
sale
Investment
securities,
trading
Debt and
deferred taxes
Foreign
exchange
revaluations of
cash and cash
equivalents held
by subsidiaries
with a non-USD
functional
currency and
other
miscellaneous
non-operating
income
Investments of
consolidated
SIPs
Investments of
consolidated
VIEs
Related
noncontrolling
interests
attributable to
third-party
investors
20
1. Reflects the portion of noncontrolling interests related to consolidated SIPs and VIEs included in Other income.
2. Net of the impact of consolidating SIPs and VIEs as summarized in the appendix.
Dividend and
interest income
Equity method
investments
Available-for-
sale
investments
Trading
investments
Interest
expense
Foreign
exchange and
other
Consolidated
sponsored
investment
products (SIPs)
Consolidated
variable interest
entities (VIEs)
Total other
income
Noncontrolling
interests1
Other income,
net of
noncontrolling
interests
Unaudited
(in US$ millions, for the three months ended June 30, 2015)
Other Income – U.S. GAAP
4.9
1.4 10.5 (6.6)
(13.7)
(29.2)
11.9
2.4
(18.4)
(9.6)
(28.0)
22. Share Repurchase Amount BEN Average Price for the Period Special Cash Dividend Declared
218190
151178
129
179
137
265
105
23
9899
282
126
291337
204215199172
212
$0
$10
$20
$30
$40
$50
$60
6/1512/146/1412/136/1312/126/1212/116/1112/106/10
U.S. Asset Managers
(ex-BEN)1: 2.2%
Compound Annual
Dilution
Share Repurchases
Accretive to Earnings per Share
22
1. U.S. asset managers include AB, AMG, APAM, APO, BLK, BX, CG, CLMS, CNS, EV, FIG, FII, GBL, IVZ, JNS, KKR, LM, MN, OAK, OMAM, OZM, PZN, TROW, WDR and WETF.
Source: Thomson Reuters and company reports.
BEN U.S. Asset Managers Average (ex-BEN)1
Unaudited
Change in Ending Shares Outstanding
Share Repurchases (US$ millions) vs. Average BEN Price
BEN: 1.9%
Compound Annual
Accretion
-15%
-10%
-5%
0%
5%
10%
15%
6/10 12/10 6/11 12/11 6/12 12/12 6/13 12/13 6/14 12/14 6/15
Recent Special Cash
Dividends per Share
Declared:
Dec-14: $0.50
Nov-12: $1.00
Dec-11: $0.67
Dec-09: $1.00
23. Return of Capital
Distributing U.S. Free Cash Flow
Unaudited
Trailing 12 Months Share Repurchases and Dividends1 (US$ millions and percentage of net income)
Dividends Share Repurchases
23
1. The chart above illustrates the amount of share repurchases and dividends over the trailing 12 months, for the period ended. Dividend payout is calculated as dividend amount declared divided by net
income attributable to Franklin Resources, Inc. for the trailing 12-month period. Repurchase payout is calculated as stock repurchase amount divided by net income attributable to Franklin Resources, Inc. for
the trailing 12-month period.
13% 13%
27% 27% 29%
31% 26%
27% 27%
32%
999
923
1,267 1,296
6/14 9/14 12/14 3/15 6/15
1,403
25. Strong Balance Sheet
Unaudited
Net Cash and Investments1 (US$ billions)
25
1. Net cash and investments consists of Franklin Resources, Inc. cash and investments (including only direct investments in consolidated SIPs and VIEs), net of debt and deposits.
U.S. Net Cash and Investments Non-U.S. Net Cash and Investments
1.1 0.9 0.8
1.8
4.8 5.6 6.5
7.4
5.9
6.5
7.3
9.2
9.8
FYE-9/11 FYE-9/12 FYE-9/13 FYE-9/14 6/15
26. Sales and Distribution Summary
This table summarizes the asset- and sales-
based distribution fees, net of expense.
• Asset-based expenses are generally not
directly correlated with asset-based revenue
due to international fee structures which
provide for recovery of certain distribution
costs through investment management fees.
• Sales-based expenses are determined as a
percentage of sales and are incurred from the
same commissionable sales transactions that
generate sales fee revenues.
• Deferred sales commissions, which are
related to up-front commissions on shares
sold without a front-end sales charge, are
amortized over the periods in which
commissions are generally recovered from
distribution fee revenues (and to a lesser
extent, from contingent deferred sales
charges received from shareholders of the
funds upon redemption of their shares).
26
Unaudited
(in US$ millions, for the three months ended)
• Net sales-based fees increased this quarter due to a regulatory
change that reduced sales-based expense.
Jun-15 Mar-15 Change % Change
Asset-based fees $ 425.9 $ 428.3
Asset-based expenses (547.7) (541.6)
Asset-based fees, net $ (121.8) $ (113.3) $ (8.5) 8%
Sales-based fees 138.3 148.9
Contingent sales charges 2.6 2.8
Sales-based expenses (118.5) (139.7)
Sales-based fees, net $ 22.4 $ 12.0 $ 10.4 87%
Amortization of deferred sales
commissions
(27.8) (29.2) 1.4 (5%)
Sales and Distribution Fees, Net $ (127.2) $ (130.5) $ 3.3 (3%)
27. Consolidated SIPs and VIEs Related Adjustments
27
Unaudited
(in US$ millions, for the three and nine months ended)
This table summarizes the impact of
consolidating SIPs and VIEs on the Company’s
reported U.S. GAAP operating results.
FYTD
Jun-15 Jun-15
Operating Revenues $ 19.5 $ 20.4
Operating Expenses 2.0 9.1
Operating Income 17.5 11.3
Investment Income (9.9) (16.5)
Interest Expense (1.0) (3.4)
Consolidated SIPs 11.9 35.5
Consolidated VIEs 2.4 7.5
Other Income 3.4 23.1
Net Income 20.9 34.4
Less: net income attributable to
noncontrolling interests
28.5 39.4
Net Income Attributable to Franklin
Resources, Inc.
$ (7.6) $ (5.0)