Ares Management Q3 Realized Income Rises - Quick Facts

(RTTNews) - Ares Management Corp. (ARES) reported third quarter net income attributable to Ares of $61.8 million compared to a loss of $35.6 million, prior year. Net income attributable to Ares per share of Class A and non-voting common stock was $0.30 compared to a loss of $0.22. After-tax realized income was $261.1 million, up 12%. After-tax realized income per share of Class A and non-voting common stock was $0.83 compared to $0.75, a year ago. On average, 14 analysts polled by Thomson Reuters expected the company to report profit per share of $0.87, for the quarter. Analysts' estimates typically exclude special items. Fee related earnings were $274.2 million for the quarter.

Third quarter total revenues declined to $671.26 million from $801.29 million, last year. Analysts on average had estimated $707.69 million in revenue.

Ares declared a quarterly dividend of $0.77 per share of its Class A and non-voting common stock, payable on December 29, 2023 to its Class A and non-voting common stockholders of record at the close of business on December 15, 2023. The company has a Dividend Reinvestment Program for Class A common stockholders that will be effective for the quarterly dividend on December 29, 2023.

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