ARES Q3 2023 Earnings — Ares Management Corporation Revenue & Financial Results | Market Cap Arena

ARESAres Management Corporation

$36B

Q3 2023 Earnings

Financial Services Asset Management

Income Statement

Revenue

$671M-16.2% YoY

Gross Profit

$304M45.3% margin

Operating Income

$110M16.4% margin

Net Income

$62M9.2% margin

EPS (Diluted)

$0.30

QoQ Revenue Growth

-38.6%

Cash Flow

Operating Cash Flow

$318M

Free Cash Flow

$295M

Stock-Based Comp.

$62M

Balance Sheet

Total Assets

$23.4B

Total Liabilities

$19.4B

Stockholders' Equity

$1.7B

Cash & Equivalents

$1.2B

Year-over-Year Comparison

Metric	Current	Year Ago	Change
Revenue	$671M	$801M	-16.2%
Gross Profit	$304M	$376M	-19.2%
Operating Income	$110M	-$97M	+213.9%
Net Income	$62M	-$36M	+273.9%

Revenue Segments

Management Service

$650M89%

Administrative Service

$36M5%

Principal Investment Income

$30M4%

Management Service, Incentive

$16M2%