Ally Financial Earnings: ALLY Stock Surges 6% on Q4 Beat

ALLY beat EPS and revenue estimates for the quarter

Ally Financial (NYSE:ALLY) earnings for the bank holding company’s fourth quarter of 2019 have ALLY stock taking off on Wednesday. That’s due to its adjusted EPS of 95 cents, which is better than Wall Street’s estimate of 93 cents. When it comes to revenue, ALLY’s $1.64 billion beats out analysts’ estimates of $1.60 billion.

Ally Financial Earnings: ALLY Stock Surges 6% on Q4 Beat
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Here’s what else is worth mentioning from the most recent Ally Financial earnings report.

  • Adjusted per-share earnings are up 3.26% from 92 cents in Q4 2018.
  • Revenue for the quarter comes in 13.89% above $1.44 billion from the same time last year.
  • The Ally Financial earnings report also has net income coming in at $378 million.
  • This is a 30.35% increase over the $290 million reported during the same period of the year prior.

Jeffrey Brown, Chief Executive Officer of Ally Financial, has this to say about the ALLY stock earnings report.

“Ally achieved multiple milestones in 2019 that demonstrated our continued success in executing on our strategic priorities. Financially, we delivered the highest Adjusted EPS1 and Total Net Revenue since our IPO, with Adjusted Tangible Book Value1 increasing over $5 per share.”

The Ally Financial earnings report doesn’t include guidance for 2020. Even so, we know what Wall Street is expecting. That includes earnings per share of 4.19 on revenue of $6.69 billion for the year.

ALLY stock was up 6.26% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2020/01/ally-financial-earnings-send-stock-soaring/.

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