Ally Financial reports Q3 adjusted EPS 95c, consensus 53c

Reports Q3 revenue $2.1B, consensus $2.03B. CEO Michael Rhodes said, “I’m pleased with the way we are executing across the organization, originating business with compelling risk adjusted returns and being disciplined in deploying capital. The challenges of managing through a unique environment are reflected in our results this quarter. However, I expect underlying trends in Dealer Financial Services, Deposits, and Corporate Finance to position us to win in the marketplace and grow shareholder value. In Auto, a robust network of 22 thousand dealers resulted in decisioning 3.6 million consumer applications and $9.4B of consumer auto originations with strong risk adjusted yields…At Ally Bank, 92% of our $141B retail deposits are FDIC insured. Our commitment to build a better bank is evidenced by 62 consecutive quarters of retail deposit customer growth, now totaling 3.3 million customers…Corporate Finance delivered another impressive quarter with $95M of pre-tax income and 33% return-on-equity…As we look ahead, we are encouraged about the opportunity in our core franchises. Our team remains focused on what we can control, executing on our long-term strategic priorities, and delivering value for our customers, communities, and shareholders.”