Ares Management Q3 2024 Adj. EPS $0.95 Beats $0.94 Estimate, Sales $753.597M Miss $802.114M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ares Management reported Q3 2024 earnings per share of $0.95, slightly beating the estimate of $0.94. However, sales were $753.597 million, missing the $802.114 million estimate, despite an 18.21% increase from the previous year.
November 01, 2024 | 10:06 am
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Ares Management's Q3 2024 EPS of $0.95 beat estimates, but sales of $753.597M missed expectations. Sales increased 18.21% YoY.
The earnings per share slightly exceeded expectations, which is positive, but the sales miss could offset this positive sentiment. The significant year-over-year sales growth is a positive indicator, but the miss on sales estimates may lead to a neutral short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100