Ares Management Corp.: Q1 FY2026 earnings call

What management said about Q1 FY2026, from the documents filed with the SEC on 1 May 2026: press release. Guidance figures: 1 kept. The quarter’s numbers.

Key takeaways

GAAP profit rose from prior quarter: GAAP net income attributable to Ares was $142.6 million, or $0.46 per share, against $54.2 million, or $0.08 per share, in the fourth quarter of 2025. Source
After-tax realized income lower than prior quarter: After-tax realized income was $452.4 million, or $1.24 per Class A share, against $529.1 million, or $1.45 per share, in the fourth quarter of 2025. Source
Fee related earnings compared with prior quarter: Fee related earnings were $464.4 million, against $527.7 million in the fourth quarter of 2025. Source
Fee-paying AUM grew 19 percent: AUM rose 18% and fee-paying AUM 19% year over year. Management said inflows and deployment contributed to 25% growth in management fees and improving operating margins. Source
Record first-quarter fundraising: First-quarter fundraising was $30 billion, up more than 45% year over year, which the company called a record for a first quarter. Source
Record pipeline and available capital: Management cited a record investment pipeline and nearly $160 billion of available capital as supporting the platform. Source

“We reported strong first quarter results highlighted by continued growth across our key financial metrics, including record first quarter fundraising of $30 billion, up more than 45% year over year,”
Michael Arougheti, Chief Executive Officer of Ares

Guidance

Area	Period	Figure	Against last quarter
Common stock dividend Source	quarterly dividend payable June 30, 2026	$1.35 per share	Kept

What changed from last quarter

Guidance kept: The quarterly common stock dividend stayed at $1.35 per share, the amount declared in the fourth quarter of 2025. Source

Results and profitability

GAAP profit rose from prior quarter: GAAP net income attributable to Ares was $142.6 million, or $0.46 per share, against $54.2 million, or $0.08 per share, in the fourth quarter of 2025. Source
After-tax realized income lower than prior quarter: After-tax realized income was $452.4 million, or $1.24 per Class A share, against $529.1 million, or $1.45 per share, in the fourth quarter of 2025. Source
Fee related earnings compared with prior quarter: Fee related earnings were $464.4 million, against $527.7 million in the fourth quarter of 2025. Source

Assets and fee growth

Fee-paying AUM grew 19 percent: AUM rose 18% and fee-paying AUM 19% year over year. Management said inflows and deployment contributed to 25% growth in management fees and improving operating margins. Source
Platform assets above $644 billion: Assets under management were over $644 billion at March 31, 2026, against nearly $623 billion at December 31, 2025. Source
Growth across key financial metrics: The CEO said the quarter showed continued growth across key financial metrics. Source

“Strong inflows and deployment contributed to AUM and fee-paying AUM year over year growth of 18% and 19%, respectively, which contributed to 25% growth in management fees and improving operating margins,”
Jarrod Phillips, Chief Financial Officer of Ares

Fundraising and investor demand

Record first-quarter fundraising: First-quarter fundraising was $30 billion, up more than 45% year over year, which the company called a record for a first quarter. Source
Investor demand broad across platform: Management said it continues to see broad-based investor demand across the platform. Source
Fundraising view compared with prior quarter: The prior quarter said another strong year could match or exceed 2025 records. This quarter says the company is on track for another record year.

Investment pipeline and capital

Record pipeline and available capital: Management cited a record investment pipeline and nearly $160 billion of available capital as supporting the platform. Source
Available capital up from prior quarter: The prior quarter cited more than $150 billion of available capital; the current quarter cites nearly $160 billion.
Positioned to meet annual financial objectives: The CFO said the company is positioned to invest capital and meet its financial objectives for the year. Source

“We are on track for another record year of fundraising as we continue to see broad-based investor demand across our platform.”
Michael Arougheti, Chief Executive Officer of Ares

Portfolio performance and markets

Portfolio fundamentals continued through volatility: Management said portfolio fundamentals continued to perform across investment portfolios during a volatile market environment. Source
Operations span five regions: The global platform has operations across North America, South America, Europe, Asia Pacific and the Middle East. Source
Cross-group collaboration aimed at returns: The company said collaboration across its investment groups aims to generate consistent returns through market cycles. Source

Shareholder returns

Common dividend held at $1.35: The company declared a quarterly common dividend of $1.35 per share on Class A and non-voting common stock. Source
Preferred dividend declared quarterly: The company declared a quarterly dividend of $0.84375 per share on its 6.75% Series B mandatory convertible preferred stock. Source
Equiniti administers reinvestment plan: Equiniti Trust Company administers the dividend reinvestment plan on the company's behalf. Source

Coming up, as management said on 1 May 2026

Common dividend payable June 30: The $1.35 common dividend is payable June 30, 2026 to holders of record at the close of business on June 16, 2026. Source
Preferred dividend payable July 1: The $0.84375 preferred dividend is payable July 1, 2026 to holders of record at the close of business on June 15, 2026. Source
Reinvestment plan effective June 30: The dividend reinvestment program for Class A common stockholders takes effect for the June 30, 2026 quarterly dividend. Source

Figures management reported

Figure	Reported
Assets under management Source	over $644 billion as of March 31, 2026
Fee-paying AUM growth Source	19% year over year
First-quarter fundraising Source	$30 billion, up more than 45%
Available capital Source	nearly $160 billion

Risks management discussed

External: Management referred to a volatile market environment as the backdrop for portfolio performance this quarter. Source

Earlier plans management reported on

On track: Management said the company is on track for another record year of fundraising, following its prior-quarter expectation. Source
Not stated: The CFO said the company is well positioned to meet its financial objectives for the year, without stating a status. Source

Other quarters

Summarised with AI from the documents the company filed with the SEC. Every point is checked against the filing before it is shown: management’s own words word for word, figures against the line or table row they come from. A point that fails the check is left out. Source opens the filing at that line.

As filed with the SEC

Open the filing on EDGAR

ARES MANAGEMENT CORPORATION REPORTS FIRST QUARTER 2026 RESULTS

NEW YORK--Ares Management Corporation (NYSE:ARES) today reported its financial results for its first quarter ended March 31, 2026.

GAAP net income attributable to Ares Management Corporation was $142.6 million for the quarter ended March 31, 2026. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.46 for the quarter ended March 31, 2026.

After-tax realized income was $452.4 million for the quarter ended March 31, 2026. After-tax realized income per share of Class A common stock was $1.24 for the quarter ended March 31, 2026. Fee related earnings were $464.4 million for the quarter ended March 31, 2026.

“We reported strong first quarter results highlighted by continued growth across our key financial metrics, including record first quarter fundraising of $30 billion, up more than 45% year over year,” said Michael Arougheti, Chief Executive Officer of Ares. “We are on track for another record year of fundraising as we continue to see broad-based investor demand across our platform. We also continue to see strong fundamental performance across our investment portfolios despite the volatile market environment.”

“Strong inflows and deployment contributed to AUM and fee-paying AUM year over year growth of 18% and 19%, respectively, which contributed to 25% growth in management fees and improving operating margins,” said Jarrod Phillips, Chief Financial Officer of Ares. “Supported by our expanding global platform, a record investment pipeline and nearly $160 billion of available capital, we are well positioned to invest our capital opportunistically and meet our financial objectives for the year.”

Common Stock Dividend

Ares declared a quarterly dividend of $1.35 per share of its Class A and non-voting common stock, payable on June 30, 2026 to its Class A and non-voting common stockholders of record at the close of business on June 16, 2026.

Preferred Stock Dividend

Ares declared a quarterly dividend of $0.84375 per share of its 6.75% Series B mandatory convertible preferred stock, payable on July 1, 2026 to its preferred stockholders of record at the close of business on June 15, 2026.

Dividend Reinvestment Program

Ares has a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the quarterly dividend on June 30, 2026. Equiniti Trust Company is engaged to administer the plan on behalf of Ares. Additional information can be located on the Investor Resources section of our website.

Additional Information

Ares issued a full detailed presentation of its first quarter 2026 results, which can be viewed at www.aresmgmt.com on the Investor Resources section of our home page under Events and Presentations. The presentation is titled “First Quarter 2026 Earnings Presentation.”

Conference Call and Webcast Information

Ares will host a conference call on May 1, 2026 at 11:00 a.m. (Eastern Time) to discuss first quarter results. All interested parties are invited to participate via telephone or the live webcast, which will be hosted on a webcast link located on the Home page of the Investor Resources section of our website at http://www.aresmgmt.com. Please visit the website to test your connection before the webcast. Domestic callers can access the conference call by dialing +1 (800) 245-3047. International callers can access the conference call by dialing +1 (203) 518-9765. All callers are asked to dial in 10-15 minutes prior to the call so that name and company information can be collected and to reference the conference ID ARESQ126. For interested parties, an archived replay of the call will be available through June 1, 2026 to domestic callers by dialing +1 (800) 839-2393 and to international callers by dialing +1 (402) 220-7206. An archived replay will also be available through June 1, 2026 on a webcast link located on the Home page of the Investor Resources section of our website.

About Ares Management Corporation

Ares Management Corporation (NYSE: ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to advance our stakeholders’ long-term goals by providing flexible capital that supports businesses and creates value for our investors and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2026, Ares Management Corporation’s global platform had over $644 billion of assets under management, with operations across North America, South America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.

Forward-Looking Statements

Forward-looking statements notice

Statements included herein contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which reflect our current views with respect to, among other things, future events, operations and financial performance. You can identify these forward-looking statements by the use of forward-looking words such as “outlook,” “believes,” “expects,” “potential,” “continues,” “may,” “will,” “should,” “seeks,” “predicts,” “intends,” “plans,” “estimates,” “anticipates,” “foresees” or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. The forward-looking statements are based on our beliefs, assumptions and expectations of our future performance, taking into account all information currently available to us. Such forward-looking statements are subject to various risks and uncertainties and assumptions relating to our operations, financial results, financial condition, business prospects, growth strategy and liquidity. Actual results may vary materially from those indicated in these forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission. Ares Management Corporation does not undertake any obligation to publicly update or review any forward-looking statement, whether as a result of new information, future developments or otherwise, except as required by law.

Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of Ares or an investment fund managed by Ares or its affiliates.

Contacts
Greg Mason · gmason@aresmgmt.com · (800) 340-6597
Carl Drake · cdrake@aresmgmt.com · (800) 340-6597