Retail deposits finished the quarter up $813 million. Despite the $41 million impact this quarter, these investments have generated accretive returns for Ally.Given the events in our industry that transpired in March, we thought it was important to spend additional time highlighting our deposits franchise and overall liquidity position. The total portfolio yield will continue to move upward towards newly originated yields, which represents a nice tailwind for the foreseeable future.While operating results were in line with expectations, adjusted EPS is below consensus, driven by a $0.10 headwind from valuation adjustments of certain equity investments. Originated yields on retail auto averaged 10.9% for the quarter, reflecting our ability to leverage dealer relationships to originate strong risk-adjusted returns.Since the start of the tightening cycle, we've added 455 basis points of price into the market, implying a beta of nearly 100%, while we're remaining disciplined on risk content. Adjusted EPS of $0.82 and core ROTCE of 12.5% and revenues of $2.1 billion reflects continued execution across our businesses in a dynamic operating environment.Net interest margin remained resilient at 3.54% as a result of disciplined pricing on both sides of our balance sheet. We appreciate you joining us this morning to review our first quarter results. Definitions and reconciliations can be found in the appendix.And with that, I'll turn the call over to J.B.Jeff Brown Thank you, Sean. As a reminder, non-GAAP or core metrics are supplemental to and not a substitute for U.S.

GAAP and non-GAAP measures pertaining to our operating performance and capital results are on Slide 3. The presentation we'll reference can be found on the Investor Relations section of our website, -looking statements and risk factor language governing today's call are on Slide 2. This morning, our CEO, Jeff Brown and our Interim CFO, Brad Brown, will review Ally's results before taking questions. Good morning, and welcome to Ally Financial's First Quarter 2023 Earnings Call. Please go ahead.Sean Leary Thank you, Carmen. Please be advised that today's conference is being recorded.I would now like to hand the conference over to Mr. After the speakers' presentation, there will be a question-and-answer session.

At this time, all participants are in a listen-only mode. Operator Good day and thank you for standing by, and welcome to the First Quarter 2023 Ally Financial Incorporated Earnings Conference Call. Reported EPS is $0.82 EPS, expectations were $0.87. (NYSE: ALLY) Q1 2023 Earnings Call Transcript April 19, 2023Īlly Financial Inc.

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