FMP
Ally Financial Shares Surge 23% Since Q4 Earnings Release
Jan 23, 2023 9:00 PM - Davit Kirakosyan(Last modified: Dec 19, 2023 5:49 PM)
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Ally Financial (NYSE:ALLY) shares gained more than 23% since the company’s reported Q4 results on Friday morning, with EPS of $1.08 coming in better than the Street estimate of $0.97. Revenue was $2.2 billion, beating the Street estimate of $2.06 billion.
Although normalization in retail auto credit and deposit pricing is accelerating and causes investor concerns, management expressed confidence that as these dynamics stabilize.
Management is optimistic that the margin can trough at approximately 3.50% in 2023, and with asset repricing tailwinds, can improve to 3.75%-4.00% in 2024.
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