Loading...
•
Sep 30, 2024
Ally Q3 2024 Earnings Report
Ally's financial performance reflected its ability to navigate a changing environment, demonstrating growth in key areas while addressing challenges in others.
Key Takeaways
Ally Financial reported GAAP EPS of $1.06 and Adjusted EPS of $0.95 for Q3 2024. The company saw growth in insurance written premiums and continued retail deposit customer growth. However, the company faced challenges including higher retail auto net charge-offs.
GAAP EPS reached $1.06, and Adjusted EPS was $0.95, showing year-over-year increases.
Consumer auto originations amounted to $9.4 billion.
Insurance written premiums hit a record $384 million, marking a 15% increase year-over-year.
Retail deposits totaled $141 billion, with 92% being FDIC insured, and the company gained 57,000 new deposit customers.
Ally
Ally
Ally Revenue by Segment
Revenue by Segment
Auto Finance Revenue
CapyFin.comInsurance Revenue
CapyFin.comCorporate Finance Revenue
CapyFin.com Forward Guidance
The company is focused on executing its long-term strategic priorities and delivering value for its customers, communities, and shareholders.
Positive Outlook
- Underlying trends in Dealer Financial Services
- Underlying trends in Deposits
- Underlying trends in Corporate Finance
- Robust network of 22 thousand dealers
- Strong risk adjusted yields
Challenges Ahead
- Evolving operating environment
- Challenges of managing through a unique environment
- Elevated Retail Auto net charge-offs
- Higher provision expense
- Lower net financing revenue
Revenue & Expenses
Visualization of income flow from segment revenue to net income