Ares Commercial reports Q1 distributable EPS (62c), consensus (23c)

Reports Q1 revenue $18.7M, consensus $17.08M. “Our first quarter results reflect further progress that we have made to resolve underperforming loans,” said Bryan Donohoe, Chief Executive Officer of Ares Commercial Real Estate Corporation. “During the first quarter, we exited or restructured four loans, leading to a 31% decline in the outstanding principal balance of loans on non-accrual status. Looking forward, we believe the real estate capabilities of the Ares platform, coupled with our liquidity and capital position, positions us well to continue to execute on our plan to drive further shareholder value.”