Ares Management (NYSE: ARES) reported Q1 EPS of ($0.33).

• GAAP net loss attributable to Ares Management Corporation was $31.0 million for the quarter ended March 31, 2020.
• On a basic and diluted basis, net loss attributable to Ares Management Corporation per share of Class A common stock was $0.33 for the quarter ended March 31, 2020.

“The unprecedented market volatility and disruption caused by the COVID-19 pandemic has tested us all during these challenging times, but we are very proud to say that our entire workforce at Ares has responded well and is operating highly effectively,” said Michael Arougheti, Chief Executive Officer and President of Ares. “Despite the economic disruption, we generated another record level of fee related earnings with growth of 31% versus the prior year period and our fee paying AUM exceeded $100 billion for the first time. We believe our results reflect our resilient, management fee centric business model that is well-suited for navigating volatility.”

“We are off to a strong start this year and believe we are well positioned to continue growing our fee related earnings by 15% or more annually as we execute on a strong fundraising cycle and seek to make attractive, value-oriented investments from our long dated assets under management,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “As we have demonstrated in the past, we have historically grown during past periods of volatility and believe we are well positioned with our flexible strategies and significant available capital of more than $33 billion.”

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