| BEN |
Report |
Adjusted diluted EPS |
BEAT |
pred ~$0.70 vs. cons $0.66 |
MEDIUM |
| BEN |
Report |
Operating revenue |
BEAT |
pred ~$2.36B vs. cons $2.28B |
MEDIUM |
| BEN |
Report |
Long-term net flows |
MISS |
pred ~$12.0B vs. cons $13.0B |
LOW |
| BEN |
Guide |
Fiscal 4Q26 adjusted operating margin outlook |
LOWER |
guide ~29.2% vs. cons 29.5% (fiscal 4Q26) |
MEDIUM |
| BEN |
Guide |
Fiscal 4Q26 effective fee-rate outlook |
UNCHANGED |
guide ~37.7 bps vs. cons 37.7 bps (fiscal 4Q26) |
MEDIUM |
| BEN |
Guide |
Fiscal 2026 expense-growth outlook excluding performance fees |
UNCHANGED |
guide ~1.5% vs. cons 1.5% (fiscal 2026) |
MEDIUM |
| BEN |
Return |
Day-1 residual (stock − beta × S&P 500) |
+3.0% |
— |
MEDIUM |
| BEN |
Return |
5-day cumulative residual |
+1.5% (FADE) |
An EPS and revenue beat should initially reward stronger average AUM, fee revenue, and operating leverage, but a modest long-term-flow shortfall and a ~29.2% fiscal-4Q margin outlook versus ~29.5% consensus leave out-period EPS math slightly lower. The initial positive reaction should therefore fade as revisions focus on the slower margin bridge to the 30%+ target. |
MEDIUM |