3Wkยท

$ALLY (-2.04%) Financial Q3'24 Earnings Highlights


๐Ÿ”น Adjusted EPS: $0.95 (Est. $0.53) ๐ŸŸข

๐Ÿ”น Revenue: $2.1B (Est. $2.03B) ๐ŸŸข

๐Ÿ”น Return on Equity (ROE): 11.0% (vs. 9.9% YoY)

๐Ÿ”น Net Interest Margin (NIM) ex-OID: 3.25%

๐Ÿ”น Net Income: $330M (up from $269M YoY)


Credit Performance:

๐Ÿ”น Provision for Credit Losses: $645M (vs. $508M YoY)ย 

๐Ÿ”น Net Write-off Rate: 1.9% (vs. 1.8% YoY)


Segment Performance:

Auto Finance:

๐Ÿ”น Originations: $9.4B from 3.6M processed applications

๐Ÿ”น Dealer Network: 22,000 dealers

๐Ÿ”น Auto Loan Yield: 10.54%


Banking & Deposits:

๐Ÿ”น Retail Deposits: $141B (92% FDIC insured)

๐Ÿ”น Customer Base: 3.3M, 62 consecutive quarters of growth


Corporate Finance:

๐Ÿ”น Pre-tax Income: $95M

๐Ÿ”น ROE: 33%


Credit Cards:

๐Ÿ”น Active Cardholders: 1.3M

๐Ÿ”น Receivables Growth: NCO rate 9.9%


Insurance:

๐Ÿ”น Written Premiums: $384M (highest since IPO)ย 

๐Ÿ”น Pre-tax Income: $102M (down from $118M YoY)ย 


CEO Commentary โ€“ Michael Rhodes:

๐Ÿ”ธ "We continue to deliver compelling risk-adjusted returns and maintain disciplined capital deployment."

๐Ÿ”ธ "Our strong dealer network powered $9.4B in auto originations with solid yields."

๐Ÿ”ธ "At Ally Bank, weโ€™ve grown to 3.3M customers and $141B in retail deposits."

4
Join the conversation