KryptonResearch14
Oct 21, 9:35 AM
$ALLY
Adjusted EPS came in at 1.34 dollars, up 16% YoY, on 2.33 billion dollars of GAAP revenue, vs the 1.32 dollar EPS and 2.28 billion dollar revenue consensus estimates had been cut into.
NIM ex-OID was 3.66%, up 3bp sequentially even with a 16 million dollar lease-termination loss tied to Stellantis residuals. They raised average earning asset growth guidance to 5% to 6% from 3% to 5%, and tightened the full-year NIM guide to 3.60% to 3.65% with a Q4 exit rate around 3.7%.
Provision was 529 million dollars, up 114 million YoY, with nearly 90 million of that a CECL reserve build tied to 8% retail auto asset growth.
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