Ares Management Corporation (ARES) Earnings Call Transcripts

Ares Management Corporation's Latest Earnings Call - Q3 FY2026

In the third quarter of 2026, Ares Management Corporation reported strong financial results, with revenue growth driven by diversified investment strategies and robust fundraising. The company achieved $1.1 billion in management fees, a 10% increase year-over-year, and core earnings metrics are on track to meet long-term targets. Notably, Ares raised over $31 billion in gross capital during the quarter and ended with $691 billion in total AUM, signaling strong institutional demand and setting the stage for a record year in fundraising. Management maintained a positive outlook for the fourth quarter, expecting continued strong results across various business segments.

Reported metrics

Guidance from management

Management expects fee-related earnings growth for the full year 2026 to be within the 16% to 20% annualized growth target, with realized income growth anticipated in the 20% to 25% range. They also expect to see greater margin benefits from new funds in 2027.

What management said

Yes. Mike, I'll take the margin question first and great to hear from you, Bill. On margins, what I said in the prepared remarks is just that based on where we're at with the [indiscernible] fund raise in terms of the year, we thought we'd be closer to the midpoint of our margin guidance of the 0 to 150 basis points. And just like, as Mike noted, that will enable us to get some catch-up fees. That does give us a tail...

I'd also make one other comment. I don't know if people focus on enough. But if you look at data center capacity and demand, it's 65% plus of that is just core compute and not "AI" and so if you just think about the long-term secular trends of digitization of everything, increased streaming, e-commerce, data storage, et cetera, that baseload demand is kind of protective in and of itself. And I think to Blair's point,...

What analysts pressed on

Analysts expressed concerns regarding the impact of rising interest rates on deployment activity, particularly in U.S. direct lending. There were questions about the potential slowdown in transaction activity and how it might affect future earnings.

Main topics on the call

• Strong Fundraising Momentum — Ares raised over $31 billion in gross capital during the third quarter, highlighting strong institutional demand. Management noted, "We have visibility on another strong fourth quarter, setting us up for another record y...
• Increased Dividend — The company declared a quarterly dividend of $1.35 per share, representing a more than 20% increase compared to the same quarter last year. This reflects confidence in cash flow and earnings stability.
• AUM Growth — Ares ended the quarter with $691 billion in total AUM, a 16% year-over-year increase, and $416 billion in fee-paying AUM, up 13%. Management stated, "Our core earnings metrics continue to grow within our long-term target...
• Performance Fee Guidance — Management expects realized net performance income for the fourth quarter to be between $160 million and $185 million, primarily driven by repayments from vintage funds. Jarrod Phillips noted, "It's really based more on ...

Read the full Ares Management Corporation transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 74 Ares Management Corporation earnings call transcripts on record, spanning February 13, 2020 to October 29, 2026. Based on this history, Ares Management Corporation reports quarterly. The most recent call on file is dated October 29, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

ARES

Exchange

NYSE

Country

US

Sector

Financials

Industry

Capital Markets

Calls on record

74

First call

February 13, 2020

Most recent

October 29, 2026

Reporting cadence

quarterly