Ares Management (ARES) Q1 2026 Earnings
Reported Apr 30, 2026 at 9:36 PM ET · SEC Source
Q1 26 EPS
$1.24
MISS 6.57%
Est. $1.33
Q1 26 Revenue
$1.40B
BEAT +26.11%
Est. $1.11B
Did ARES Beat Earnings? Q1 2026 Results
Ares Management Corp delivered a strong first quarter for fiscal 2026, reporting after-tax realized earnings of $1.24 per share on revenue of $1.40 billion, as robust fundraising and deployment activity powered broad-based growth across its alternati… Read more Ares Management Corp delivered a strong first quarter for fiscal 2026, reporting after-tax realized earnings of $1.24 per share on revenue of $1.40 billion, as robust fundraising and deployment activity powered broad-based growth across its alternative investment platform. Fee-related earnings climbed 26% to $464.40 million, with the FRE margin expanding to 42.4% from 41.5% a year ago, while total AUM rose 18% year over year to $644.30 billion. The quarter's momentum was anchored by $29.50 billion in gross new capital commitments, up more than 45% year over year, alongside $32.30 billion in capital deployment concentrated in direct lending, real estate, and alternative credit strategies. The Credit Group remained the engine of the firm, with realized income up 26% to $542.92 million, while the Real Assets Group saw fee revenue jump 60% following the integration of GCP International. With nearly $160 billion in available capital and $79.40 billion in AUM not yet paying fees representing approximately $715.90 million in potential incremental annual management fees, management expressed confidence the firm is on track for another record year of fundraising.
Key Takeaways
- • Record first quarter fundraising of $29.5 billion, up more than 45% year over year
- • Management fees grew 22% year over year on an unconsolidated basis driven by deployment in U.S. and European direct lending and alternative credit strategies
- • AUM grew 18% year over year to $644.3 billion
- • Fee paying AUM grew 19% year over year to $399.6 billion
- • Perpetual capital AUM surged 39% year over year to $215.3 billion
- • Fee Related Earnings margin expanded to 42.4% from 41.5%
- • Capital deployment of $32.3 billion including $17.2 billion by drawdown funds
- • 85% of AUM in perpetual capital or long-dated funds; 93% of management fees from these sources
- • Real Assets Group management fees up 60% benefiting from full quarter of GCP International acquisition
ARES Forward Guidance & Outlook
Management stated the company is on track for another record year of fundraising with broad-based investor demand across the platform. With a record investment pipeline and nearly $160 billion of available capital, the firm is well positioned to invest capital opportunistically and meet its financial objectives for the year. AUM not yet paying fees available for future deployment of $79.4 billion could generate approximately $715.9 million in potential incremental annual management fees upon deployment.
ARES YoY Financials
Q1 2026 vs Q1 2025, source: SEC Filings
ARES Revenue by Segment
With YoY comparisons, source: SEC Filings
“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, Q1 2026 Earnings Press Release
ARES Earnings Trends
ARES vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
ARES EPS Trend
Earnings per share: estimate vs actual
ARES Revenue Trend
Quarterly revenue: estimate vs actual
ARES Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 MISS | $1.33 | $1.24 | -6.57% | $1.40B | +26.11% |
| Q4 25 MISS | $1.69 | $1.45 | -14.00% | $3.68B | +177.23% |
| Q3 25 BEAT | $1.14 | $1.19 | +3.98% | $1.66B | +54.73% |
| Q2 25 MISS | $1.09 | $1.03 | -5.26% | $1.35B | +40.31% |