Ares Management Corporation (ARES) CEO Michael Arougheti on Q1 2022 Results - Earnings Call Transcript

Ares Management Corporation (NYSE:ARES) Q1 2022 Earnings Conference Call April 28, 2022 11:00 AM ET

Company Participants

Carl Drake - Head, Public Markets, Investor Relations

Michael Arougheti - Chief Executive Officer

Jarrod Phillips - Chief Financial Officer

Kipp deVeer - Director, Partner, Head of Credit Group

Conference Call Participants

Craig Siegenthaler - Bank of America

Robert Lee - KBW

Alex Blostein - Goldman Sachs

Kenneth Lee - RBC Capital Markets

Finian O'Shea - Wells Fargo Securities

Adam Beatty - UBS

Michael Cyprys - Morgan Stanley

Operator

Welcome to Ares Management Corporation's First Quarter Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this conference call is being recorded on Thursday, April 28, 2022.

I will now turn the call over to Carl Drake, Head of Public Markets Investor Relations for Ares Management.

Carl Drake

Good morning, and thank you for joining us today for our first quarter conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer; and Jarrod Phillips, our Chief Financial Officer. We also have a number of executives with us today who will be available during Q&A.

Before we begin, I want to remind you that comments made during this call contain forward-looking statements and are subject to risks and uncertainties, including those identified in our risk factors in our SEC filings. Our actual results could differ materially, and we undertake no obligation to update any such forward-looking statements. Please also note that past performance is not a guarantee of future results.

During this call, we will refer to certain non-GAAP financial measures, which should not be considered in isolation from or as a substitute for measures prepared in accordance with Generally Accepted Accounting Principles. Please refer to our first quarter earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly comparable GAAP measures. Please note that nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares fund.

This morning, we announced that we declared our second quarter common dividend of $0.61 per share of its Class A and nonvoting common stock. This represents an increase of 30% over a dividend for the same quarter a year ago. The dividend will be paid on June 30, 2022, to holders of record on June 16.