ARES - Ares Management Corporation (ARES) Q4 2023 Earnings Call Transcript
2024-02-08 15:42:10 ET
Ares Management Corporation (ARES)
Q4 2023 Earnings Conference Call
February 8, 2024 11:00 AM ET
Company Participants
Greg Mason – Co-Head-Public Markets Investor Relations
Michael Arougheti – Chief Executive Officer
Jarrod Phillips – Chief Financial Officer
Conference Call Participants
Steven Chubak – Wolfe Research
Craig Siegenthaler – Bank of America
Patrick Davitt – Autonomous Research
Nick Benoit – Barclays
Luke Bianculli – Goldman Sachs
Michael Cyprys – Morgan Stanley
Brennan Hawken – UBS
Mike Brown – KBW
Presentation
Operator
Welcome to the Ares Management Corporation Fourth Quarter and Year Ended Earnings Conference Call. At this time, all participants are in a listen-only mode. As a reminder, this call is being recorded on Thursday, February 8, 2024.
I'll now turn the call over to Greg Mason, Co-Head of Public Markets Investor Relations for Ares Management. Please go ahead, sir.
Greg Mason
Good morning. And thank you for joining us today for our fourth quarter and year-end 2023 conference call. I'm joined today by Michael Arougheti, our Chief Executive Officer; Jarrod Phillips, our Chief Financial Officer; and Carl Drake, who has moved to a new advisory role within our Public Markets Investor Relations team. 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, and nothing on this call constitutes an offer to sell or a solicitation of an offer to purchase an interest in any Ares fund.
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 fourth quarter and full year earnings presentation available on the Investor Resources section of our website for reconciliations of the measures to the most directly comparable GAAP measures. Note that we plan to file our Form 10-K later this month.
This morning, we announced that we declared a new higher level of quarterly dividends, starting with our first quarter common dividend of $0.93 per share on the company's Class A and nonvoting common stock, representing an increase of 21% over our dividend for the same quarter a year ago. The dividend will be paid on March 29, 2024, to holders of record on March 15. Jarrod will provide additional color on the drivers of this increase later in the call.
Now I'll turn the call over to Mike, who will start with some fourth quarter and year-end business highlights....
Ares Management Corporation (ARES) Q4 2023 Earnings Call Transcript