Ares Management (ARES) Misses Q2 EPS by 3c

Ares Management (NYSE: ARES) reported Q2 EPS of $0.35, $0.03 worse than the analyst estimate of $0.38.

“Despite the volatile markets, we are pleased to see the durability and resiliency of our business deliver strong growth across our core metrics for the second quarter, including 26% growth in our fee related earnings and 18% growth in our fee paying AUM,” said Michael Arougheti, Chief Executive Officer and President of Ares. “With more than $15 billion in gross capital raised organically year to date, our clients continue to entrust us with greater amounts of capital, which puts us on track to have one of our best fundraising years yet.”

“In the second quarter, we generated our 13th consecutive quarter of sequential fee related earnings growth and our fee related earnings margin reached a post IPO high,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “With a record amount of available capital, we are well positioned to continue to drive growth in management fees and fee related earnings in the years ahead.”

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

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