Ally Financial Q3 GAAP EPS rises to $1.06; adjusted EPS slips to $0.95
Ally Financial reported preliminary third-quarter 2024 results. GAAP earnings per share rose to $1.06 from $0.86 in the second quarter, helped by a $124 million tax benefit tied to EV lease tax credits, while adjusted EPS fell to $0.95 from $0.97. Shareholders get a mixed picture: GAAP revenue and net income grew, but provision for credit losses rose to $645 million and core pre-tax income fell $138 million from a year earlier.
Key points
- GAAP EPS of $1.06, up from $0.86 in 2Q 24 and $0.88 in 3Q 23; adjusted EPS of $0.95, down from $0.97 in 2Q 24 and up from $0.83 in 3Q 23
- GAAP total net revenue of $2,103 million, up 5% from the prior quarter and 7% from a year earlier
- Provision for credit losses of $645 million, up $137 million year over year, reflecting higher net charge-offs and a 15 bps increase in the retail auto reserve rate
- Ally paid a $0.30 per share quarterly dividend and declared the same amount for the fourth quarter of 2024; no shares were repurchased on the open market
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 12:56 AM ET, from the text of the filing and its press-release exhibits 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 October 18, 2024.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.