Ares Management Reports Q4 Earnings Miss, Revenue Beat
Los Angeles, CA - Ares Management LP (ARES) announced fourth-quarter earnings of $154.5 million, equating to $0.72 per diluted share. Excluding one-time items, adjusted earnings reached $1.23 per share, falling short of analysts' consensus estimate of $1.29.
Revenue for the quarter totaled $1.26 billion, with adjusted revenue at $1.24 billion, exceeding analysts' expectations of $1.22 billion.
For the full year, the company recorded net income of $441 million ($2.04 per share) on revenue of $3.71 billion.
ARES shares have gained approximately 10% year-to-date and 57% over the past 12 months.