Ares Commercial reports Q3 distributable EPS 7c, consensus 4c

Reports Q3 revenue $16.65M, consensus $16.74M. “During Q3, we continued to make progress on our objective of further strengthening our balance sheet position and resolving our risk rated 4 and 5 loans, which declined by 33%,” said Bryan Donohoe, CEO. “Together with our financial flexibility and the capabilities provided by our Ares Real Estate Group, we believe we are well positioned to resolve our remaining underperforming assets, which will ultimately position the Company for higher levels of portfolio growth and earnings in the future.” “We believe our balance sheet positioning is paramount in our ability to drive successful outcomes resolving our remaining underperforming assets,” said Jeff Gonzales, CFO. “During Q3, we have continued to further de-lever our balance sheet with our outstanding debt balance declining by an additional 8% while continuing to maintain strong levels of liquidity.”