What move does the options market price into Ares Management's report?

Implied ±13.9%, either direction · provisional.

How often does Ares Management move more than the options market prices?

1 of the last 8 reports moved at least as far as the implied move.

ARESNYSEInvestment Advice

Ares Management Corp (ARES) earnings date, market-implied expected move, and options open interest by expiry

138.28

Pre-market18:16 ETdelayed

Open129.92Volume2.6MMkt cap$49.3BP/E92.14Div yield3.78%

Day129.92 – 138.28100%52-wk92.59 – 173.9956%

ARES

Ares Management Corp

OpenVolumeMkt capP/EEPSDiv yield

Day – 52-wk –

Expected move

Inputs

±13.9%implied · straddle

117.81155.89

spot 136.85exp Feb 19ATM strike 135ATM straddle 22.40IV 39%

Nov 4 closeprovisional

Expected move

Inputs

Next report

Feb 4

before open · in 91 days

est.Q4 FY26

Calendar

Next report

Last report

+2.95%

vs ±5.1% implied · ×0.58

shaded = implied · ▲▼ = realized

Oct 29 '26 · confirmed

Implied vs realized

Largest filed tie

—

Largest filed tie

13F top-10 QoQ

+5.99%

shares held · 10 largest managers

13F · Jun 30 '26128d lag

814 managers

Top fund weight

0.74%

ARES weight · SCHD

N-PORTAug 31 '26

11 funds

Last reportshaded = implied▲▼ = realized× = |realized| ÷ implied

Ares Management (ARES) is expected to report on Feb 4 before open (estimated date).

Implied vs realized

8 reports

1 of 8≥ implied

avg implied: ±5.8%
avg realized: ±3.4%

May 5 '25May 5 '25confirmed±6.4%▲+2.35%×0.37

Aug 1 '25Aug 1 '25confirmed±5.8%▼−1.46%×0.25

Q3 FY25Nov 3 '25confirmed±8.3%▲+4.57%×0.55

Feb 5 '26Feb 5 '26confirmed±7.0%▼−11.19%×1.59

Q1 FY26May 1 '26confirmed±5.2%▲+1.36%×0.26

Q2 FY26Jul 10 '26confirmed±2.8%▲+0.12%×0.04

Jul 31 '26Jul 31 '26confirmed±5.9%▲+3.20%×0.54

Oct 29 '26Oct 29 '26confirmed±5.1%▲+2.95%×0.58

quarterimplied−15%0+15%realized×

Oct '26±5.1%▲+2.95%×0.58

Jul '26±5.9%

Shaded = implied · tick ▲▼ = realized · × = |realized| ÷ impliedSource: options EOD · implied at prior close · realized close to close

Implied vs realized

Positioning

OI · 10 expiries · Nov 3 close

0.90OI · 10 expiries · Nov 3 closeP/C open interest · Feb 19 · first expiry after the report

PUTS · chgexpiry · days · P/CCALLS · chgP/C

6 nearer expiries

6,021+68%Nov 61d7.21835+52%7.21

64+10%Nov 138d0.59108+24%0.59

7,849−1%Nov 2015d2.333,362+4%2.33

92+35%Nov 2722d1.8450+4%1.84

5+400%Dec 429d0.1927+17%0.19

0—Dec 1136d0.0035+250%0.00

6,2620%Dec 1843d3.591,745+1%3.59

23,998−2%Jan 1571d3.536,807+1%3.53

report · Feb 4 · before open · est.

ExpiryPutsCallsP/C

6 nearer expiries

Nov 61d6,021+68%835+52%7.21

Nov 138d64+10%108+24%0.59

Nov 2015d7,849−1%3,362

Hatched = puts · solid = calls · bars scaled per expiry · chg = OI vs prior sessionSource: options EOD

Positioning

Linked exposure

scenario · straddle±13.9%

Funds 4

SCHD±0.1%

XLF±0.0%

FTC±0.0%

RSP±0.0%

Customers 1

ACRE±4.3%×0.31

Dashed = straddle · × = co-movement · max 501dMethod 2 more funds Source: SEC filings · N-PORT · market data

Linked exposure

Revenue flow

as filedQ2 FY26

10.54%as filednet margin · revenue +2.30% QoQ · +5.81% YoY

Revenue

$1.4B+2.30% QoQ

Gross profit

$740M+5.10% QoQ

51.80% margin

Operating income

$249M+9.06% QoQ

17.40% margin

Pre-tax income

$386M+23.34% QoQ

Net income

$151M−61.93% QoQ

10.54% margin

Cost of revenue

$689M−0.54% QoQ

Operating expenses

$491M+3.21% QoQ

SG&A $256M

Other operating $236M

Tax

$73M+21.89% QoQ

Other income

$137M+61.64% QoQ

Revenue$1.4B+2.30%

Gross profit

$740M+5.10%

51.80% margin

Operating income

$249M+9.06%

17.40% margin

Pre-tax income

$386M+23.34%

Net income

$151M−61.93%

10.54% margin

Cost of revenue

$689M−0.54%

Operating expenses

$491M+3.21%

SG&A $256M

Other operating $236M

Other income$137M+61.64%

Tax$73M+21.89%

flow · deduction · inflow · signed % = QoQSource: SEC filings · standardized · QE Jun 30 '26 · width = $

Revenue flow

Intraday

15m bars

Long dash = implied range · Nov 4 close · Hatch = extended hours · ▯ up · ▮ down · bars = volume, 15mSource: market data · 18:15 ET

Intraday

Event sensitivity

PPI ×1.59· ±2.7% vs ±1.7% · 11 releases

eventrelease day|move|up · n×base

PPIproducer prices±2.7%7 of 11×1.59

GDPgross domestic product±1.9%7 of 20×1.13

NFPjobs report±1.9%6 of 10×1.11

CPIconsumer prices±1.8%1 of 11×1.06

PCEpersonal income & outlays±1.7%8 of 20×1.03

FOMCrate decision±1.5%12 of 24×0.91

CPROFcorporate profits±1.2%3 of 12×0.71

Bar = avg |move| to ±3% · tick = ±1.7% avg day · ×base = |move| ÷ ±1.7% · min 6 releases

Earnings history

EPS 0.49 · consensus —

Quarter	Reported	EPS	Consensus
Q2 FY26	Jul 10 '26 · confirmed	0.49	—
Q1 FY26	May 1 '26 · confirmed	0.46	—
Q3 FY25	Nov 3 '25 · confirmed	1.15	—

Source: filed financials

Methodology

ties · implied moves · holdersMethod