Ares Management (ARES) Misses Q1 EPS by 5c
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Ares Management (NYSE: ARES) reported Q1 EPS of $0.46, $0.05 worse than the analyst estimate of $0.51.
“During the first quarter, we crossed a major milestone for our company by surpassing $200 billion in assets under management after reaching $100 billion just four years ago,” said Michael Arougheti, Chief Executive Officer and President of Ares. “Our 39% growth in assets under management was supported by continued strong momentum in both fundraising and fund performance as we generated attractive investment solutions for our investors. Looking ahead to the rest of 2021, we see a constructive market backdrop and strong fundamentals for the core drivers of our business and we continue to see favorable industry tailwinds and significant expansion opportunities for us on the longer term horizon.”
“We are off to a strong start to the year with $10 billion of new capital raised, 38% growth in our fee related earnings and record quarterly deployment,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “With over $56 billion of available capital in flexible investment strategies, we are well positioned for continued growth as we continue to leverage the advantages of our expanding investment platform and global presence.”
For earnings history and earnings-related data on Ares Management (ARES) click here.
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