Published on 2 May 2024 on GuruFocus.com via Yahoo Finance
Ares Management Corp (ARES) Reports Mixed Q1 2024 Results: Misses EPS Estimates, Declares Dividend
GAAP Net Income: Reported at $73.0 million for the quarter, falling short of the estimated $180.15 million.Earnings Per Share (EPS): Achieved $0.33, below the estimated $0.92.After-tax Realized Income: Reached $265.1 million, with a per-share figure of $0.80.Fee-Related Earnings: Totaled $301.7 million during the quarter.Dividend: Declared a quarterly dividend of $0.93 per share, payable on June 28, 2024.Assets Under Management (AUM): Grew by 19% year-over-year, reaching approximately $428 billion.Fundraising: Robust with over $17 billion raised in the quarter, reflecting strong investor confidence and strategic growth initiatives.
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