Filing Flows › Ares Real Estate Income Trust (ZARE) › Q2 2026
Ares Real Estate Income Trust (ZARE) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 12, 2026
Ares Real Estate Income Trust (ZARE) reported revenue of $151M for the second quarter 2026 (Q2 2026), +28% from a year earlier and +4% from the quarter before. Operating margin was 70.2%, net loss $26.1M (17.3% of revenue).
Ares Real Estate Income Trust, Q2 2026: revenue $151M (+28% year over year), operating margin 70.2%, net loss $26.1M, operating cash flow $189M. The chart follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $151M | +4% | +28% |
| Operating profit | $106M | +6% | +36% |
| Net earnings | −$26.1M | — | — |
| Operating cash flow | $189M | — | +991% |
| Free cash flow | $177M | — | 18× |
What changed
Revenue was $151.2M in Q2 2026, up 28% year over year and up 4% from the previous quarter.
Operating profit was $106.1M, a 70.2% margin (up 4.1 points year over year). Of the extra revenue versus Q2 2025, 85% reached operating profit, above the 66% margin then. Total costs grew 12% against revenue growth of 28%. The fastest-growing cost line was Other operating costs (+12%). The quarter ended with a net loss of $26.1M, narrower than the previous quarter's $40.6M loss. Minority interests bore $12.5M of it: to shareholders the quarter was a loss of $13.7M. Net interest and other expense of $121.4M was the main reason.
Operating cash flow was $189.4M (up 991% year over year). Non-cash charges added back $59.5M of depreciation and amortization. Working capital and other items added $156.0M. Capital expenditures of $12.7M left free cash flow of $176.7M.
Questions
What was Ares Real Estate Income Trust's revenue in the second quarter 2026?
Ares Real Estate Income Trust (ZARE) reported revenue of $151M for the second quarter 2026 (Q2 2026), +28% from a year earlier and +4% from the quarter before.
Was Ares Real Estate Income Trust profitable in the second quarter 2026?
Operating profit was $106M (70.2% of revenue) and net loss $26.1M.