Ares Management (ARES) Misses Q3 EPS Views

Ares Management (NYSE: ARES) reported Q3 EPS of $0.00, $0.20 worse than the analyst estimate of $0.20.

The decrease in economic net income was primarily driven by a decline in net investment income, largely attributable to portfolio investments in our ACOF Asia fund in the Private Equity Group and certain alternative credit funds in the Tradable Credit Group, and, to a lesser extent, reduced net performance fees in the Private Equity, Direct Lending and Tradable Credit Groups and lower fee related earnings in the Real Estate Group. The decrease was partially offset by an increase in fee related earnings in the Private Equity, Direct Lending and Tradable Credit Groups. Economic net income for the nine months ended September 30, 2015 was $164.9 million compared to $224.5 million for the nine months ended September 30, 2014.

Ares reported growth in AUM and Fee Earning Assets Under Management (“FEAUM”) of 14.9% and 11.4%, year over year, reaching $91.5 billion and $66.7 billion, respectively. Third quarter gross capital raised totaled $6.5 billion primarily driven by fundraising in the Tradable Credit and Direct Lending Groups.

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

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