Ally Financial Q2 GAAP EPS falls to $0.86 from $0.99; adjusted EPS $0.97
Ally Financial reported preliminary second-quarter 2024 results, with GAAP earnings per share of $0.86, down from $0.99 a year earlier but up from $0.42 in the first quarter. Adjusted EPS was $0.97, up 1% year over year, while GAAP total net revenue of $2.0 billion fell 4% year over year. Shareholders face a mixed picture: profit on a GAAP basis declined year over year, but the quarter improved sequentially.
Key points
- GAAP net income attributable to common shareholders was $266 million, compared with $301 million in the second quarter of 2023 and $129 million in the first quarter of 2024.
- Provision for credit losses rose $30 million year over year to $457 million, reflecting higher net charge-offs.
- Net interest margin was 3.27%, down 11 basis points year over year; Ally's common equity tier 1 ratio was 9.6%.
- Ally's board approved a $0.30 per share common dividend for the third quarter of 2024, and the company did not repurchase any shares on the open market during the quarter.
The filing
Written by AI on Nov 8, 2026, 12:56 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on July 17, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.