ARES · Ares Management Corporation

0001628280-26-022430

Summary

Ares Management disclosed preliminary Q1 2026 realized net performance income below prior guidance, while reaffirming its full year 2026 performance target.

Key takeaways

Preliminary Q1 2026 realized net performance income expected at ~$75 million, below prior $100 million guidance.
Q1 2026 preliminary figure is higher than $41 million reported in Q1 2025.
Shortfall driven by delayed European-style fund income expected later in 2026.
Full year 2026 realized net performance income guidance remains over $350 million.
Preliminary estimates are unaudited; actual Q1 results may differ materially.

Full analysis

The disclosed preliminary Q1 2026 realized net performance income is lower than the company's prior $100 million guidance due to timing shifts of income from certain European-style funds to later 2026 quarters. The company reaffirmed its full year 2026 guidance of over $350 million in realized net performance income, noting preliminary estimates are subject to material variation from actual final results, and investors should not place undue reliance on the forward-looking statements.