Ally Financial reports Q2 adjusted EPS 99c, consensus 80c

Reports Q2 adjusted revenue $2.1B, consensus $2.04B. “I am encouraged and energized by the progress we have made as an organization over the first half of the year. Our results demonstrate sound strategic positioning and disciplined execution, contributing to an improving financial trajectory. These results reflect the power of focus from our 10,000+ colleagues and our ongoing commitment to unlocking the full potential of our core franchises,” said Chief Executive Officer, Michael Rhodes. “This unified focus strengthens my conviction in the path toward improved returns and long-term shareholder value creation. Our Dealer Financial Services business continued its strong trajectory, with a record 3.9 million decisioned consumer applications, driving $11.0 billion in originations. In Insurance, average dealer inventory exposure rose by 23% year over year to $48 billion as we continue to expand new relationships and leverage synergies with our Auto Finance business. Corporate Finance once again stood out, generating a strong 31% ROE and ending the quarter with zero net charge-offs and no new loans moving to non-accrual – underscoring the team’s disciplined approach to growth and risk management. At Ally Bank, we serve an all-time high of 3.4 million customers, marking 65 consecutive quarters of growth in our customer base. We ended the quarter with deposit balances of $143 billion – 92% of which are FDIC insured – reinforcing our position as the nation’s largest all-digital bank. Looking ahead, I am confident in the momentum across each of our businesses. With market-leading franchises, a powerful brand, and a culture that sets us apart, Ally is operating from a position of strength. While we remain mindful of the macro environment, our focus remains squarely on disciplined execution to consistently deliver strong results and generate more compelling returns over time.”