Ares Q1 GAAP net income $94M; fee related earnings $254.6M, up mid-20% YoY

Ares Management Corp

GAAP net income $94M ($0.49 EPS); after-tax realized income $232M ($0.71 EPS).
Fee related earnings $254.6M, up mid-20% YoY; management fees also grew mid-20%.
Gross inflows of $16B in Q1; CEO cites strong investor demand for private capital offerings.
Quarterly dividend of $0.77 per share declared, payable June 30, record June 16.
CFO reaffirms growth objectives based on fundraising and deployment outlook.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Ares Management Corp reported the first quarter ended March 31, 2023 results: net income $94.0 million, EPS $0.49.

Period: the first quarter ended March 31, 2023
Net income: $94.0 million
EPS: $0.49
Result: reported results

Exact text from the filing

GAAP net income attributable to Ares Management Corporation was $94.0 million for the quarter ended March 31, 2023. On a basic and diluted basis, net income attributable to Ares Management Corporation per share of Class A and non-voting common stock was $0.49 for the quarter ended March 31, 2023.

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Source: SEC EDGAR

accession 0001628280-23-013721

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