Ally Financial (ALLY) Q2 2026 earnings summary

Executive summary

• Adjusted EPS rose 22% year-over-year to $1.21, with GAAP EPS up 14% to $1.18 and core ROTCE at 11.8%.

• GAAP net income attributable to common shareholders was $367 million, up $43 million year-over-year.

• Adjusted net revenue increased 10% year-over-year to $2.3 billion, driven by asset growth and margin expansion.

• Strategic focus on core franchises, digital-first banking, and disciplined execution led to improved earnings power and capital flexibility.

• Shareholder returns exceeded $300 million via repurchases since December, with $148 million repurchased in the quarter.

Financial highlights

• Net financing revenue (excluding OID) was $1.7 billion, up $171 million year-over-year; NIM ex. OID at 3.63%, up 18 bps.

• Adjusted tangible book value per share rose 13% year-over-year to $42.12.

• Adjusted non-interest expense was $1.3 billion, up 5% year-over-year; adjusted efficiency ratio improved to 48.7%.

• GAAP net revenue was $2.3 billion, up 10% year-over-year.

• CET1 ratio reached 10.1%, up 80 bps year-over-year.

Outlook and guidance

• Average earning assets expected to grow 3%-5% for the year, up from prior 2%-4% guidance.

• Consolidated net charge-offs (NCOs) guided to 1.2%-1.3% for the year, narrowed from 1.2%-1.4%.

• NIM guidance remains 3.6%-3.7%, with potential to exit above the range.

• Adjusted noninterest expense expected to rise 1% year-over-year.

• Management expressed confidence in continued earnings growth and resilience across market cycles.