Ally Q1 2021 Earnings Report
Key Takeaways
Ally Financial reported a strong first quarter with net income attributable to common shareholders of $796 million, driven by a $13 million provision benefit compared to a $903 million provision expense in the prior year period, as well as higher other revenue and higher net financing revenue. Consumer auto originations reached $10.2 billion, and retail deposits increased to $128.4 billion.
Consumer auto originations reached $10.2 billion, sourced from 3.3 million decisioned applications.
Retail deposits increased to $128.4 billion, up 21% year-over-year and $4.0 billion quarter-over-quarter.
Ally Home direct-to-consumer mortgage originations increased by 145% year-over-year to $1.8 billion.
The board of directors approved a second quarter 2021 common dividend of $0.19 per share and resumed buybacks under a $1.6 billion fiscal year 2021 authorization.
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Ally Revenue by Segment
Forward Guidance
Ally's strong first quarter performance demonstrated our continued ability to navigate the complexities of the pandemic and emerge as a stronger and more resilient company.
Revenue & Expenses
Visualization of income flow from segment revenue to net income