Financial Data and Key Metrics Changes - The second quarter adjusted EPS was $0.97, with revenue of $2 billion, reflecting solid financial results from consistent operational execution [19] - Net interest margin (NIM), excluding OID, was 3.3%, up 14 basis points quarter-over-quarter, driven by momentum on both sides of the balance sheet [19][27] - Net financing revenue, excluding OID, was $1.5 billion, lower year-over-year due to higher interest rates but up $40 million quarter-over-quarter [23] Business Line Data and Key Metrics Changes - In the auto segment, the company decisioned a Q2 record 3.7 million consumer auto applications and generated $9.8 billion of originations, with retail auto originated yields of 10.6% [20] - Insurance written premium was $344 million, up 15% year-over-year, driven by continued momentum in F&I and P&C products [21][47] - Corporate finance generated a record core pretax income of $98 million, with a 2Q ROE of 34% [49] Market Data and Key Metrics Changes - Deposits at Ally Bank were down quarter-over-quarter and flat for the year, in line with expectations for seasonal tax outflows, with 54,000 new customers added [21][29] - The company has a fully funded deposit portfolio of $142 billion, with 92% FDIC insured [29] - Retail auto net charge-offs were 181 basis points, down 46 basis points quarter-over-quarter, reflecting typical seasonality [34] Company Strategy and Development Direction - The company aims to leverage its broad dealer network to grow its leading position in the auto finance marketplace, focusing on comprehensive products and services for dealer partners [11][12] - The CEO emphasized the importance of executing existing plans while remaining open to optimizing capital usage without significant near-term shifts in strategy [58][65] - The company is committed to maintaining a strong culture centered around integrity, innovation, and customer obsession, which is seen as a key driver of success [10][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to grow earnings, with expectations for continued expansion in NIM and a solid financial trajectory [19][54] - The CEO highlighted the company's strong market position and the unique scale and expertise developed over the past decade [13][19] - Management expects retail auto net charge-offs to moderate in the second half of 2024, driven by the burn-off of the 2022 vintage [60][62] Other Important Information - The company recently closed its first credit risk transfer transaction, which had strong investor demand and led to strong pricing and execution [19][32] - The preliminary stress capital buffer is 2.6%, effective October 1, 2024, with a significant buffer above required minimums [20][30] - The company expects to exit 2024 with a NIM near 3.5% and aims for a 4% NIM run rate by the end of 2025 [27][51] Q&A Session Summary Question: Initial impressions of the company and strategy - The CEO expressed gratitude for inheriting a well-respected company and emphasized the importance of executing existing plans while remaining open to optimizing capital usage [56][58] Question: Credit performance and expectations - Management expects typical seasonal increases in net charge-offs but anticipates mitigation due to the burn-off of the 2022 vintage [59][60] Question: Strategy regarding diversification into card services - The CEO highlighted the attractiveness of the auto business ecosystem and the company's focus on areas where it has a competitive advantage [63][65] Question: Originated yield decline - The decline in originated yield was attributed to a mix shift rather than competitive pressures, with consistent pricing across credit tiers [66][67] Question: Year-over-year delinquency trends - Management clarified that the increase in delinquency rates was influenced by the day of the week the quarter ended and expects moderation going forward [68][70] Question: Outperformance of the 2023 vintage - The improvement in the 2023 vintage was attributed to both industry performance and tighter underwriting practices implemented by the company [74][78]

Ally Financial (ALLY) reported $2 billion in revenue for the quarter ended June 2024, representing a year-over-year decline of 3.8%. EPS of $0.97 for the same period compares to $0.96 a year ago.The reported revenue represents a surprise of -1.08% over the Zacks Consensus Estimate of $2.02 billion. With the consensus EPS estimate being $0.62, the EPS surprise was +56.45%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street ex ...

Ally Financial (ALLY) came out with quarterly earnings of $0.97 per share, beating the Zacks Consensus Estimate of $0.62 per share. This compares to earnings of $0.96 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 56.45%. A quarter ago, it was expected that this auto finance company and bank would post earnings of $0.33 per share when it actually produced earnings of $0.45, delivering a surprise of 36.36%.Over the last four q ...

Ally Financial Inc. 2Q 2024 Earnings Review July 17, 2024 Contact Ally Investor Relations at (866) 710-4623 or investor.relations@ally.com 2Q 2024 Preliminary Results 2 Forward-Looking Statements and Additional Information This presentation and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based o ...

Exhibit 99.3 SECOND QUARTER 2024 FINANCIAL SUPPLEMENT ALLY FINANCIAL INC. FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION This document and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the presentation or related communication. ...

Core Viewpoint - Ally Financial Inc. reported its second quarter 2024 results and will host a conference call to discuss the performance [1]. Company Overview - Ally Financial Inc. is a financial services company with the largest all-digital bank in the nation and a leading auto financing business, serving approximately 11 million customers [3]. - The company offers a full range of online banking services, including deposits, mortgage, credit card products, securities brokerage, and investment advisory services [3]. - Ally also has a corporate finance business that provides capital for equity sponsors and middle-market companies, along with auto financing and insurance offerings [3]. Conference Call Details - A conference call will take place at 9 a.m. ET to review the company's performance, including a question and answer session [1]. - Participation in the conference call is available via webcast or dial-in, with pre-registration required for dial-in access [2]. - A replay of the call will be available on the Ally Investor Relations website [2].

Loading...Loading...Ally Financial Inc. ALLY is scheduled to release its financial results for the second quarter, before the opening bell on Wednesday, July 17.Analysts expect the Detroit, Michigan-based company to report quarterly earnings at 64 cents per share, down from 96 cents per share in the year-ago period. Ally Financial expects to post revenue of $2.03 billion. It posted $2.08 billion a year earlier, according to data from Benzinga Pro.On April 18, Ally Financial reported better-than-expected fir ...

DETROIT, July 16, 2024 /PRNewswire/ -- The board of directors of Ally Financial Inc. (NYSE: ALLY) declared a quarterly cash dividend of $0.30 per share of the company's common stock, payable on August 15, 2024, to stockholders of record on August 1, 2024, as well as quarterly dividend payments for the company's Series B and Series C preferred stock securities, payable on August 15, 2024.A quarterly dividend payment was declared on Ally's 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Seri ...

In its upcoming report, Ally Financial (ALLY) is predicted by Wall Street analysts to post quarterly earnings of $0.61 per share, reflecting a decline of 36.5% compared to the same period last year. Revenues are forecasted to be $2.02 billion, representing a year-over-year decrease of 2.8%.The current level reflects a downward revision of 1.7% in the consensus EPS estimate for the quarter over the past 30 days. This demonstrates how the analysts covering the stock have collectively reappraised their initial ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Ally Financial (ALLY) reports results for the quarter ended June 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on July 17. On t ...