Ares Management (ARES) Reports Q4 Earnings Miss, EPS $1.45 vs. $1.71 Forecast

Ares Management LP (ARES) released Q4 results showing net profit of $54.2 million, or 8 cents per share, with adjusted EPS of $1.45. Revenue totaled $1.5 billion, with adjusted revenue at $1.17 billion, both below analyst forecasts of $1.63 billion and $1.71 per share, respectively. Year-over-year profit was $527.4 million, or $1.71 per share, on revenue of $4.12 billion. The earnings miss contributed to a 15% year-to-date drop in ARES stock, which is down 30% over the past 12 months.