What To Expect From Ally Financial’s (ALLY) Q3 Earnings
Digital banking company Ally Financial (NYSE:ALLY) will be reporting results this Tuesday morning. Here’s what to expect.
Ally Financial beat analysts’ revenue expectations last quarter, reporting revenues of $2.28 billion, up 10.3% year on year. It was a mixed quarter for the company, with a significant miss of analysts’ efficiency ratio estimates.
Is Ally Financial a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Ally Financial’s revenue to grow 6.7% year on year, improving from the 3.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Ally Financial has a history of exceeding Wall Street’s expectations.
With Ally Financial being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unfold for consumer finance stocks. However, the segment has faced declining investor sentiment as Ally Financial’s peer group is down 3.2% on average over the last month. Ally Financial is down 5.2% during the same time .
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