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Jun 30, 2023
Ally Q2 2023 Earnings Report
Ally's second quarter results demonstrated strength and resilience amidst a dynamic operating environment.
Key Takeaways
Ally Financial reported a net income attributable to common shareholders of $301 million, with a GAAP EPS of $0.99 and an adjusted EPS of $0.96. The company maintained strong liquidity and capital levels, with retail deposit balances increasing. Growth was driven by $10.4 billion in consumer auto originations.
Maintained strong levels of liquidity and capital in a dynamic environment.
Retail deposit balances up $0.5 billion QoQ; FDIC insured balances up $1.3 billion QoQ and represent 92% of portfolio.
Generated $10.4 billion of origination volume driven by 3.5 million consumer auto applications.
Insurance written premiums of $299 million.
Ally
Ally
Ally Revenue by Segment
Revenue by Segment
Auto Finance Revenue
CapyFin.comInsurance Revenue
CapyFin.comCorporate Finance Revenue
CapyFin.com Forward Guidance
Ally is cognizant of the near-term pressure the current environment presents and will remain focused on driving long-term value for all stakeholders.
Positive Outlook
- Disciplined capital deployment
- Maintaining strong levels of liquidity
- Robust interest rate risk management
- Credit risk management
- Strategic priorities
Challenges Ahead
- Near-term pressure the current environment presents.
- Evolving backdrop
- Potential changes to the regulatory framework across the industry.
- Higher funding costs
- Credit normalizes off of historical lows as well as a modest reserve build to reflect the evolving macro environment.
Revenue & Expenses
Visualization of income flow from segment revenue to net income