Filing Flows › Ares Management (ARES) › Q3 2026
Ares Management (ARES) Q3 2026 earnings results (third quarter 2026)
10-Q filed Nov 6, 2026
Ares Management (ARES) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +9% from a year earlier and -3% from the quarter before. Operating margin was 13.1%, net earnings $85.3M (6.8% of revenue).
Ares Management, Q3 2026: revenue $1.3B (+9% year over year), operating margin 13.1%, net earnings $85.3M, operating cash flow −$86.3M. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | -3% | +9% |
| Operating profit | $164M | -48% | -72% |
| Net earnings | $85.3M | -43% | -70% |
| Operating cash flow | −$86.3M | — | -106% |
What changed
Revenue was $1.3B in Q3 2026, up 9% year over year and down 3% from the previous quarter. Management fees was the largest line at 84% of revenue. Management fees added $0.09B year over year (up 9%), 81% of the total change. Carried interest declined 65%.
Operating profit was $0.16B, a 13.1% margin (down 37.7 points year over year). Operating profit fell $0.42B even though revenue rose $0.11B versus Q3 2025, so costs grew faster than sales. Total costs grew 93% against revenue growth of 9%. The fastest-growing cost line was Other operating costs (+160%). Net earnings were $0.09B, down 70% year over year. The effective tax rate was 22.0%.
Operating cash flow was −$0.09B. Non-cash charges added back $0.18B of share-based compensation. Working capital and other items used $0.40B.
Questions
What was Ares Management's revenue in the third quarter 2026?
Ares Management (ARES) reported revenue of $1.3B for the third quarter 2026 (Q3 2026), +9% from a year earlier and -3% from the quarter before.
Was Ares Management profitable in the third quarter 2026?
Operating profit was $164M (13.1% of revenue) and net earnings $85.3M.
Source: Ares Management 10-Q on SEC EDGAR.