Company profile

Joseph Andrew Sullivan
Incorporated in
Fiscal year end
Industry (SEC)
Former names
Legg Mason Inc
IRS number

LM stock data



6 Aug 19
17 Oct 19
31 Mar 20


Company financial data Financial data

Quarter (USD) Jun 19 Mar 19 Dec 18 Sep 18
Revenue 705.36M 692.61M 704.32M 758.43M
Cash on hand
Annual (USD) Mar 19 Mar 18 Mar 17 Mar 16
Revenue 2.9B 3.14B 2.89B 2.66B
Net change in cash 63M -25M
Cash on hand 438M 375M

Financial data from Legg Mason earnings reports

Financial report summary

  • Poor Investment Performance Could Lead to a Loss of Assets Under Management and a Decline in Revenues
  • Assets Under Management May Be Withdrawn, Which May Reduce our Revenues and Net Income
  • If we Are Unable to Maintain our Fee Levels or If our Asset Mix Changes, our Revenues and Margins Could Be Reduced
  • Our Mutual Fund Management Contracts May Not Be Renewed, Which May Reduce our Revenues and Net Income
  • Unavailability of Appropriate Investment Opportunities Could Hamper our Investment Performance or Growth
  • Changes in Securities Markets and Prices May Affect our Revenues and Net Income
  • Changes in Interest Rates Could Have Adverse Effects on our Assets Under Management
  • Competition in the Asset Management Industry Could Reduce our Revenues and Net Income
  • Failure to Properly Address the Increased Transformative Pressures Affecting the Asset Management Industry Could Negatively Impact our Business
  • Failure to Comply With Contractual Requirements or Guidelines Could Result in Liability and Loss of Assets Under Management, Both of Which Could Cause our Net Income to Decline
  • The Soundness of Other Financial Institutions Could Adversely Affect our Business
  • Performance-Based Fee Arrangements May Increase the Volatility of our Revenues
  • We Rely Significantly on Third Parties to Distribute Mutual Funds and Certain Other Products
  • Our Funds-of-Hedge Funds Business Entails a Number of Additional Risks
  • Our Leverage May Affect our Business and May Restrict our Operating Results
  • We May Engage in Strategic Transactions That Could Create Risks
  • If our Reputation is Harmed, we Could Suffer Losses in our Business, Revenues and Net Income
  • Failure to Properly Address Conflicts of Interest Could Harm our Reputation, Business and Results of Operations
  • Loss of Key Personnel Could Harm our Business
  • Our Business is Subject to Numerous Operational Risks
  • Failure to implement effective information and cyber security policies, procedures and capabilities could disrupt operations and cause financial losses
  • Potential Impairment of Goodwill and Intangible Assets Could Increase our Expenses and Reduce our Assets
  • Our Deferred Tax Assets May Not Be Fully Realizable
  • We Are Exposed to a Number of Risks Arising From our International Operations
  • Regulatory Matters May Negatively Affect our Business and Results of Operations
  • Our Business Involves Risks of Being Engaged in Litigation, Regulatory Proceedings and Tax Disputes, Which May Result in Liability That Could Increase our Expenses and Reduce our Net Income
  • Insurance May Not Be Available on a Cost-Effective Basis to Protect us From Liability
Management Discussion
  • Item 2.        Management's Discussion and Analysis of Financial Condition and Results of Operations
  • This Quarterly Report on Form 10-Q contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that involve substantial risks or uncertainties. Forward-looking statements are typically identified by words or phrases such as “achieve,” “anticipate,” “assume,” “believe,” “continue,” “current,” “estimate,” “expect,” “intention,” “maintain,” “opportunity,” “position,” “potential,” “projection,” “remain,” “seek,” “sustain,” “trend” and similar expressions, or future or conditional verbs such as “could,” “may,” “should,” "will," "would" and similar expressions. Forward-looking statements are based on our current expectations and beliefs, and involve known and unknown risks, uncertainties and other factors, which may cause our actual results, performance and achievements and the timing of certain events to differ materially from the results, performance, achievements or timing discussed, projected, anticipated or indicated in any forward-looking statement. Such risks, uncertainties and other factors include, among others, information or anticipated information relating to: our expectations regarding financial market conditions, future investment performance of our affiliates, and future net client cash flows; the performance of our business, including revenues, net income, earnings per share, dividends, investments, capital expenditures, and other conditions; our expense levels; changes in our business or in the amount or composition of our client assets under management ("AUM"); the expected effects of acquisitions and other transactions and their effect on our business; changes in tax regulations and rates, including the effect on our estimated effective income tax rate; the expected costs and benefits of our ongoing strategic restructuring; and other regulatory or legislative changes.
  • Actual results may differ materially from those in forward-looking information as a result of various factors, some of which are beyond our control, including, but not limited to, the foregoing factors as well as those discussed under the heading "Risk Factors" in our Annual Report on Form 10-K for the year ended March 31, 2019. Due to such risks, uncertainties and other factors, we caution each person receiving such forward-looking information not to place undue reliance on such statements. Further, forward-looking statements speak only as of the date on which such statements are made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date of any such statement or to reflect the occurrence of unanticipated events.
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