Earnings Call
Jul 31, 2026
Q2 FY2026
EPS Estimate
1.28
EPS Actual
1.29
Post-Earnings Close
$128.09
Earnings Reaction
+3.2%
Ares Management posted a record quarter of fundraising, $36 billion of gross capital raised in Q2 2026, the highest in the firm's history, while simultaneously growing AUM 17% year-over-year to approximately $671 billion and fee-paying AUM 17% to approximately $410 billion. Critically, that AUM growth translated into earnings growth that outpaced it: fee-related earnings rose 20% year-over-year to approximately $491 million, and realized income surged 31% to approximately $522 million. After-tax realized income per share came in at $1.29, slightly above the $1.28 consensus estimate. Management fees crossed $1 billion for the quarter for the first time, growing 14% with no catch-up fees, and the year-to-date FRE margin of 42.3% is running approximately 100 basis points above the prior year period, with management guiding toward the upper end of their 0-to-150 basis point annual improvement target. The 20%-plus dividend increase to $1.35
Report generated on Aug 1, 2026
AI-generated earnings analysis. Not investment advice.
Chief Executive Officer
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
The quarter's results reflected a combination of company-specific execution and broader sector dynamics, with management addressing several of the key debates that analysts had flagged heading into the print. Guidance commentary pointed to continued momentum in the core segments, while questions on margins and capital allocation drew more nuanced responses from the leadership team over the course of the call.
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