Ally Financial: Growth Accelerates as Asset Outlook Raised Again; NIM Guide Narrowed on Rates and Lease Residuals

ALLY reported 3Q26 adj. EPS of $1.34, above JPMe of $1.29 and consensus of $1.33; GAAP EPS was $1.30. Earnings include an incremental $0.20 provision expense (~200bps to ROTCE) from ~$90M of CECL reserve build tied to stronger-than-expected originations. ALLY raised its FY26 average earning asset growth outlook to +5-6% (from +3-5%) on retail auto and corporate finance originations, noting this growth carries CECL reserve builds up front. FY26 NIM ex-OID guidance was narrowed to 3.60-3.65% (from 3.60-3.70%), with 4Q NIM expected around 3.7%, as Fed funds are now expected to end the year ~100bps above the January assumption and lease residual pressure continues. Adj. other revenue guidance was tightened to +2-4% and adj. non-interest expense guidance was lowered to flat to +1%. Consumer auto originations of $12.9B rose 10% Y/Y on record application volume of 4.8M;