Ares Management (ARES) Reports In-Line Q2 EPS

Ares Management (NYSE: ARES) reported Q2 EPS of $0.40, in-line with the analyst estimate of $0.40.

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“Our second quarter results demonstrate our continued strong growth with fee related earnings, realized income and assets under management all showing high teens or better growth on a year over year basis,” said Michael Arougheti, Chief Executive Officer and President of Ares. “With $12 billion of funds raised in the second quarter and $19 billion in the first half of 2018, we expect this to be our best year yet of fundraising as we capitalize on our market leadership in global direct lending and private credit. We now expect to end 2018 with over $125 billion of assets under management, setting us up for significant future growth in our earnings.”

“Following our election to corporate tax status made earlier this year, we are excited to announce our intent to move forward with a full legal conversion to a state law corporation,” said Michael McFerran, Chief Operating Officer and Chief Financial Officer of Ares. “We plan to structure the conversion in a manner that we believe may enable index inclusion, which could further broaden our investor base.”

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

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