Ally Financial's Q2 adj revenue beats on record consumer auto applications
ALLY•Outlook
- Company did not provide specific financial guidance for the current or future periods in the press release
Overview
- U.S. auto lender's Q2 adjusted revenue beat analyst expectations
- Adjusted EPS for Q2 rose 22% yr/yr but missed analyst expectations
- Company executed $148 mln in share repurchases during the quarter
Result drivers
- Auto originations - Record consumer auto applications and 21% yr/yr growth in originations drove asset and revenue growth
- Insurance premiums - Higher insurance written premiums, up 9% yr/yr, contributed to revenue growth
- Corporate finance - Segment delivered higher pre-tax income on asset growth and favorable provision expense
Key details and analyst coverage
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | $2.29 bln | ||
| Q2 Adjusted Revenue | Beat | $2.28 bln | $2.22 bln (15 Analysts) |
