Ares Management Corp is expected to release its Q2 2026 10-Q filing in the upcoming earnings season. Last quarter: ARES Management delivered strong Q1 FY2026 results with revenue surging 29.3% YoY to $1.30B and net income more than tripling to $142.6M, though operating cash flow declined sharply and leverage remains elevated at a debt-to-equity ratio of nearly 5x.
Drawn from management commentary in the Q1 2026 10-Q:
Revenue grew 29.3% year-over-year from $1.00B to $1.30B in Q1 FY2026, reflecting robust momentum in Ares' fee-based asset management business and continued expansion of assets under management across its credit, real estate, and private equity strategies.
Net income jumped 202.3% YoY from $47.2M to $142.6M, indicating significant operating leverage and potentially favorable market conditions or performance fee realizations that disproportionately boosted the bottom line relative to revenue growth.
SG&A expenses rose only 5.5% YoY to $240.4M despite a 29.3% revenue increase, demonstrating meaningful operating leverage as the firm scales its platform without proportional increases in overhead costs.
Revenue
$1.3B
++29.30% YoY
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