Ares Commercial reports Q2 distributable EPS (12c), consensus 12c

Reports Q2 revenue $16.8M, consensus $18.82M. “We continued to make progress on resolving risk rated 4 and 5 loans and maintaining financial flexibility,” said Bryan Donohoe, CEO. “While these measures impacted our Q2 financial results, we believe these actions better position the Company for higher levels of portfolio growth and earnings in the future. I am also proud to announce the appointments of Tae-Sik Yoon to COO and Jeff Gonzales to CFO and Treasurer, effective as of August 30, 2024. Tae-Sik has been our CFO for the past twelve years and is a trusted member of our management team and a demonstrated leader within our organization. As COO, we believe that he will be better positioned to help execute the company’s strategic priorities. I am also pleased that Jeff will be our next CFO. Jeff is a seasoned professional, having worked with our team for the past eleven years and is the natural choice for the role. I have the utmost confidence in Tae-Sik and Jeff and look forward to our continued partnership as we seek to execute on behalf of our shareholders.”