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Ares Management (ARES) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 7, 2026
Ares Management (ARES) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +24% from a year earlier and -0.4% from the quarter before. Operating margin was 24.3%, net earnings $151M (11.6% of revenue).
Ares Management, Q2 2026: revenue $1.3B (+24% year over year), operating margin 24.3%, net earnings $151M, operating cash flow −$351M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -0.4% | +24% |
| Operating profit | $315M | +11% | +11% |
| Net earnings | $151M | +6% | +10% |
| Operating cash flow | −$351M | -186% | -185% |
What changed
Revenue was $1.3B in Q2 2026, up 24% year over year and roughly flat from the previous quarter. Management fees was the largest line at 79% of revenue. Management fees added $0.12B year over year (up 13%), 46% of the total change. Principal investment income declined 79%.
Operating profit was $0.31B, a 24.3% margin (down 2.9 points year over year). Of the extra revenue versus Q2 2025, 13% reached operating profit, below the 27% margin then. Total costs grew 29% against revenue growth of 24%. The fastest-growing cost line was Other operating costs (+38%). Net earnings were $0.15B, up 10% year over year. The effective tax rate was 23.2%.
Operating cash flow was −$0.35B. Non-cash charges added back $0.18B of share-based compensation. Working capital and other items used $0.78B.
Questions
What was Ares Management's revenue in the second quarter 2026?
Ares Management (ARES) reported revenue of $1.3B for the second quarter 2026 (Q2 2026), +24% from a year earlier and -0.4% from the quarter before.
Was Ares Management profitable in the second quarter 2026?
Operating profit was $315M (24.3% of revenue) and net earnings $151M.
Source: Ares Management 10-Q on SEC EDGAR.