Ally Financial ( (ALLY) ) has released its Q4 earnings. Here is a breakdown of the information Ally Financial presented to its investors.
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Ally Financial Inc. is a financial services company known for operating the largest all-digital bank in the U.S. and providing industry-leading auto financing solutions.
In its latest earnings report, Ally Financial announced a net income of $668 million for the full year 2024, alongside an earnings per share (EPS) of $1.80. The fourth quarter saw a net income of $108 million, indicating some challenges compared to previous quarters.
The company reported total net revenue of $8.2 billion for the year, with consumer auto originations of $39.2 billion. The retail auto originated yield was 10.41%, illustrating strong performance in auto financing. Additionally, Ally’s insurance written premiums reached $1.5 billion, marking the highest since its IPO. The report also highlighted significant corporate actions, including the sale of its credit card business and a planned workforce reduction.
Despite some declines in net income year-over-year, Ally Financial’s leadership remains optimistic about 2025. The company is focusing on strengthening its core operations and enhancing shareholder value, driven by an improved credit outlook and disciplined expense management.
