Ares Management Corporation Reports Third Quarter 2024 Results
Ares Management (NYSE:ARES) reported strong Q3 2024 results with GAAP net income of $118.5 million and earnings per share of $0.55. The company achieved after-tax realized income of $316.0 million ($0.95 per share) and fee-related earnings of $339.3 million. With over $64 billion in fundraising year-to-date, Ares expects 2024 to be a record year with gross commitments reaching mid-$80 billion range. Third quarter deployment reached nearly $30 billion. The company declared a quarterly dividend of $0.93 per share of Class A stock, payable December 31, 2024.
Ares Management (NYSE:ARES) ha riportato risultati solidi per il terzo trimestre del 2024, con un reddito netto GAAP di $118,5 milioni e utili per azione di $0,55. L'azienda ha realizzato un reddito netto dopo le tasse di $316,0 milioni ($0,95 per azione) e guadagni relativi a commissioni di $339,3 milioni. Con oltre $64 miliardi raccolti fino ad oggi, Ares si aspetta che il 2024 sia un anno da record, con impegni lordi che raggiungeranno circa $80 miliardi. Gli investimenti del terzo trimestre hanno raggiunto quasi $30 miliardi. L'azienda ha dichiarato un dividendo trimestrale di $0,93 per azione della classe A, pagabile il 31 dicembre 2024.
Ares Management (NYSE:ARES) reportó resultados sólidos para el tercer trimestre de 2024, con ingresos netos GAAP de $118.5 millones y ganancias por acción de $0.55. La empresa logró un ingreso neto después de impuestos de $316.0 millones ($0.95 por acción) y ganancias relacionadas con tarifas de $339.3 millones. Con más de $64 mil millones recaudados hasta la fecha, Ares espera que 2024 sea un año récord, con compromisos brutos alcanzando un rango cercano a los $80 mil millones. La implementación del tercer trimestre alcanzó casi $30 mil millones. La empresa declaró un dividendo trimestral de $0.93 por acción de clase A, pagadero el 31 de diciembre de 2024.
Ares Management (NYSE:ARES)는 2024년 3분기 실적을 발표했으며, GAAP 기준 순이익이 1억 1850만 달러, 주당 순이익이 0.55달러에 달했습니다. 회사는 세후 실현 소득이 3억 1600만 달러(주당 0.95달러), 수수료 관련 수익이 3억 3930만 달러에 달했다고 밝혔습니다. 현재까지 640억 달러 이상의 자금을 모은 Ares는 2024년이 기록적인 해가 될 것으로 예상하며, 총 약속 금액이 800억 달러 중반에 이를 것으로 보입니다. 3분기 투자규모는 거의 300억 달러에 이릅니다. 회사는 클래스 A 주식 한 주당 0.93달러의 분기 배당금을 선언하며, 이는 2024년 12월 31일에 지급될 예정입니다.
Ares Management (NYSE:ARES) a annoncé de solides résultats pour le troisième trimestre 2024, avec un revenu net GAAP de 118,5 millions de dollars et un bénéfice par action de 0,55 dollar. L'entreprise a réalisé un revenu net après impôts de 316,0 millions de dollars (0,95 dollar par action) et des revenus liés aux frais de 339,3 millions de dollars. Avec plus de 64 milliards de dollars levés à ce jour, Ares s'attend à ce que 2024 soit une année record, avec des engagements bruts atteignant le niveau du milieu des 80 milliards de dollars. Les déploiements du troisième trimestre ont atteint près de 30 milliards de dollars. L'entreprise a déclaré un dividende trimestriel de 0,93 dollar par action de classe A, payable le 31 décembre 2024.
Ares Management (NYSE:ARES) hat für das dritte Quartal 2024 starke Ergebnisse gemeldet, mit einem GAAP-Nettoeinkommen von 118,5 Millionen Dollar und einem Gewinn pro Aktie von 0,55 Dollar. Das Unternehmen erzielte ein nach Steuern realisiertes Einkommen von 316,0 Millionen Dollar (0,95 Dollar pro Aktie) und gebührenbezogene Einnahmen von 339,3 Millionen Dollar. Mit über 64 Milliarden Dollar an gesammelten Mitteln bis heute erwartet Ares, dass 2024 ein Rekordjahr wird, mit Bruttozusagen im mittleren Bereich von 80 Milliarden Dollar. Die Investitionen im dritten Quartal beliefen sich auf fast 30 Milliarden Dollar. Das Unternehmen gab eine vierteljährliche Dividende von 0,93 Dollar pro Aktie der Klasse A bekannt, die am 31. Dezember 2024 zahlbar ist.
- Strong Q3 2024 deployment of nearly $30 billion
- Fee-related earnings reached $339.3 million
- After-tax realized income of $316.0 million
- Record fundraising expected with mid-$80 billion range in 2024
- Over $85 billion in AUM not yet paying fees, indicating future growth potential
- None.
Insights
A strong quarter with impressive financial metrics shows Ares Management's continued growth trajectory. Key highlights include:
- GAAP net income of
$118.5 million - After-tax realized income of
$316.0 million - Fee related earnings of
$339.3 million - Record fundraising year expected at
$85 billion - Quarterly dividend increased to
$0.93 per share
The alternative asset management sector continues to show resilience, with Ares' performance indicating strong institutional appetite for private market strategies. The
GAAP net income attributable to Ares Management Corporation was
After-tax realized income was
“We reported strong third quarter results with continued fundraising momentum, increasing deployment, strong fund performance, and year-over-year growth in many of our key financial metrics ranging from the high teens to more than twenty percent,” said Michael Arougheti, Chief Executive Officer and President of Ares. “We continue to experience heightened demand for our alternative strategies across all three of our distribution channels. With over
“Based upon a more positive market tone, our third quarter deployment reached nearly
Common Stock Dividend
Ares declared a quarterly dividend of
Preferred Stock Dividend
Ares declared a quarterly dividend of
Dividend Reinvestment Program
Ares has a Dividend Reinvestment Program for its Class A common stockholders that will be effective for the quarterly dividend on December 31, 2024. 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 third quarter 2024 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 “Third Quarter 2024 Earnings Presentation.”
Conference Call and Webcast Information
Ares will host a conference call on November 1, 2024 at 9:00 a.m. (Eastern Time) to discuss third 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) 445-7795. International callers can access the conference call by dialing +1 (203) 518-9848. 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 ARESQ324. For interested parties, an archived replay of the call will be available through December 1, 2024 to domestic callers by dialing +1 (800) 839-5241 and to international callers by dialing +1 (402) 220-2698. An archived replay will also be available through December 1, 2024 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 provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of September 30, 2024, Ares Management Corporation's global platform had approximately
Forward-Looking Statements
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.
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Investor Relations Contacts
Greg Mason
gmason@aresmgmt.com
(800) 340-6597
Carl Drake
cdrake@aresmgmt.com
(800) 340-6597
Source: Ares Management Corporation
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