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 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
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.27 | $1.29 | +1.44% | $1.43B | +24.99% |
| 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% |