Seeking Alpha

Ally Financial higher after earnings beat

  • Core pre-tax income excluding repositioning items of $417M vs. $212M a year ago. Adjusted EPS of $0.42 vs. $0.34 in Q1 and a loss of $0.13 a year ago.
  • Automotive Finance: Originations of $10.9B up 11% Y/Y. Pre-tax income of $461M vs. $382M.
  • Insurance: Pre-tax loss of $23M vs. profit of $45M a year ago, driven by $77M underwriting loss amid hailstorms in the Midwest.
  • Mortgage: Pre-tax income of $27M vs. loss of $27M a year ago.
  • Previously: Ally Financial beats by $0.09, beats on revenue
  • ALLY +1.2% premarket
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