| ARES |
Report |
Fee-related earnings (FRE) |
BEAT |
pred ~$481M vs. cons $474M |
MEDIUM |
| ARES |
Report |
Fee-paying AUM |
BEAT |
pred ~$414B vs. cons $408B |
MEDIUM |
| ARES |
Report |
After-tax realized income per Class A share |
MISS |
pred ~$1.15 vs. cons $1.18 |
MEDIUM |
| ARES |
Guide |
FY2026 FRE growth |
UNCHANGED |
guide ~18% vs. cons 18% (FY2026) |
HIGH |
| ARES |
Guide |
FY2026 FRE-margin expansion |
BETTER |
guide ~125 bps vs. cons 110 bps (FY2026) |
MEDIUM |
| ARES |
Guide |
FY2026 realized-income growth |
UNCHANGED |
guide ~22% vs. cons 22% (FY2026) |
MEDIUM |
| ARES |
Return |
Day-1 residual (stock − beta × S&P 500) |
+2.5% |
— |
MEDIUM |
| ARES |
Return |
5-day cumulative residual |
+3.5% (FOLLOW-THROUGH) |
FRE and fee-paying AUM beat, with margin guidance of ~125 bps versus ~110 bps consensus for FY2026, should outweigh the ~$1.15 versus $1.18 realized-income-per-share miss; unchanged ~18% FRE-growth and ~22% realized-income-growth objectives preserve out-period estimates rather than forcing cuts. |
MEDIUM |