ARES Q2 2023 Earnings — Ares Management Corporation Revenue & Financial Results | Market Cap Arena

ARESAres Management Corporation

$36B

Q2 2023 Earnings

Financial Services Asset Management

Income Statement

Revenue

$1.1B+81.8% YoY

Gross Profit

$726M66.4% margin

Operating Income

$256M23.4% margin

Net Income

$145M13.2% margin

EPS (Diluted)

$0.74

QoQ Revenue Growth

+34.4%

Cash Flow

Operating Cash Flow

-$699M

Free Cash Flow

-$711M

Stock-Based Comp.

$62M

Balance Sheet

Total Assets

$23.1B

Total Liabilities

$19.1B

Stockholders' Equity

$1.8B

Cash & Equivalents

$1.1B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$1.1B	$601M	+81.8%
Gross Profit	$726M	$226M	+221.6%
Operating Income	$256M	$49M	+426.2%
Net Income	$145M	$40M	+263.7%

Revenue Segments

Carried Interest

$418M88%

Administrative Service

$45M9%

Management Service, Incentive

$8M2%

Principal Investment Income

$7M1%