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Ares Management (ARES)
NYSE:ARES
Earnings Data
Report Date
Apr 24, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
1.45Last Year’s EPS
1.09Same Quarter Last Year
Strong Buy
Based on 11 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a predominantly positive operating and credit performance story: record originations, portfolio growth, strong diversification, low non-accruals, material realized gains, and robust funding/liquidity execution. Offsetting items include meaningful year-over-year declines in GAAP and core EPS (largely driven by lower base rates), modest NAV per share change, and near-term headwinds from rate declines and seasonal origination slowdowns. Management emphasized conservative underwriting, diversification, and available capital, indicating confidence to navigate challenges.Company Guidance
Record Originations and New Borrowers
Gross originations reached a record $15.8 billion in 2025, including $5.8 billion in Q4 (up more than 50% vs. 2024). ARCC added more than 100 new borrowers during the year and ended 2025 with 603 borrowers, enhancing diversification and scale.
Portfolio Growth and Scale
Total portfolio at fair value was $29.5 billion at year-end (up 10% year-over-year and 3% quarter-over-quarter). Portfolio diversification remained high with average position size ~0.2% and top-10 concentrations (~11%) well below peers.
Strong Underlying Portfolio Performance
Weighted average organic EBITDA of portfolio companies grew ~9% year-over-year (more than double the ~4% growth in the broadly syndicated loan market). Average interest coverage improved to 2.2x (up 10% QoQ and 15% YoY) and average portfolio leverage decreased by ~0.25x EBITDA vs. prior year.
Stable Credit Metrics and Low Non-Accruals
Non-accruals at cost ended 2025 at 1.8% (in line with prior quarter and year) and 1.2% at fair value — well below ARCC's post‑GFC average of 2.8% and BDC industry average of 3.8%. Weighted average portfolio grade remained stable at 3.1.
Dividend Coverage and Consistent ROE
Core EPS covered the dividend in all four quarters; core earnings per share was $0.50 in Q4 and $2.01 for the year. Core ROE was ~10% for the year, in line with the firm’s long-term average. Q1 2026 dividend set at $0.48.
Record Debt & Funding Execution; Strong Liquidity
Added $4.5 billion of new gross debt commitments in 2025 (record), issued $2.4 billion of investment-grade bonds, expanded credit facilities by $1.4 billion, priced a $700 million on-balance-sheet CLO (SOFR +147 bps), and began 2026 with $750 million five-year issuance. Nearly 70% of borrowings are floating (vs ~50% at YE2024). Pro forma liquidity exceeded $6 billion.
Significant Realized Gains from Equity Co-Investments
Generated more than $470 million of gross gains from the equity co-investment portfolio in 2025; exits produced average IRR in excess of 25% and returned more than three times the initial investment on average. Pretax net realized gains on investments exceeded $100 million for the year.
Origination Reach and Sourcing Advantages
Non‑sponsored originations grew by more than 50% in 2025. Investment team reviewed nearly $1 trillion of potential investments (a 24% increase vs. prior year), supporting selective, high-volume origination and attractive pricing/terms.
ARES Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ARES Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 05, 2026 | $137.22 | $121.87 | -11.19% |
Nov 03, 2025 | $147.75 | $154.50 | +4.57% |
Aug 01, 2025 | $183.19 | $180.52 | -1.46% |
May 05, 2025 | $154.04 | $157.66 | +2.35% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ares Management (ARES) report earnings?
Ares Management (ARES) is schdueled to report earning on Apr 24, 2026, Before Open (Confirmed).
What is Ares Management (ARES) earnings time?
Ares Management (ARES) earnings time is at Apr 24, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ARES EPS forecast?
ARES EPS forecast for the fiscal quarter 2026 (Q1) is 1.45.