0001193125-26-179290
SEC filingAlly Financial announced a proposed public offering of Series D Preferred Stock and reported Q1 2026 GAAP EPS of $0.93 with net income of $291 million attributable to common shareholders, up from a loss last year.
Ally Financial's Q1 2026 results showed significant year-over-year improvement, with GAAP net income attributable to common shareholders of $291 million versus a $253 million loss in Q1 2025, driven by higher net financing revenue up $111 million to $1.6 billion and other revenue surging $450 million to $513 million. Net interest margin excluding core OID expanded 17 bps year-over-year to 3.52%, reflecting benefits from higher-yielding auto loan vintages. Provision for credit losses rose $276 million to $467 million due to a prior-year reserve release from the Credit Card sale, though retail auto net charge-offs improved to 197 bps, down 15 bps year-over-year. Noninterest expense declined $399 million, primarily from the Credit Card divestiture and lower weather losses. Segment-wise, Automotive Finance pre-tax income was $336 million, Insurance $28 million with core results up sharply, and Corporate Finance $94 million with 26% ROE. Capital strength remains solid with CET1 at 10.1%, supporting $147 million in share repurchases and a stable $0.30 quarterly dividend. Concurrently, the launch of a Series D Preferred Stock offering aims to bolster liquidity for general purposes or potential Series B redemption, subject to market conditions. Retail deposits grew to $146.1 billion with 68 quarters of customer growth to 3.5 million, maintaining 88% core funding.