Ares Management (ARES) Reports Q1 Loss of $0.58/Share, Distributable Earnings $0.14/Share

Ares Management (NYSE: ARES) reported Q1 EPS of ($0.58), versus ($0.04) reported last year. Revenue for the quarter came in at $241.66 million, versus $136.02 million reported last year.

Distributable earnings for the quarter were $0.14

"Ares had a good start to 2017 with 19% year over year growth in fee paying assets under management and 20% year over year growth in our fee related earnings supported by contributions from all three of our investment groups," said Tony Ressler, Chief Executive Officer of Ares. “We continue to take advantage of the attractive fundraising environment, raising over $3 billion in gross capital during the first quarter and more than $14 billion over the past year, reflecting investor interest in Ares products, higher yields and strong relative value compared to traditional investments.”

“We continue to use our global platform advantages to source differentiated investment opportunities despite competitive market conditions,” said Michael Arougheti, President of Ares. “The market environment remains strong for realizing investments at attractive values, and at this time, we have good visibility for realization opportunities which we expect to support higher quarterly distributable earnings levels for the next two quarters compared to first quarter’s level.”

For earnings history and earnings-related data on Ares Management (ARES) click here.

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