Ally Financial said first-quarter 2026 net income attributable to common shareholders was $291 million, reversing a $253 million loss a year earlier and slipping 3% from $300 million in the fourth quarter of 2025. Earnings per share came in at $0.93, down from $0.95 in the prior quarter but up from a loss of $0.82 a year ago. Adjusted EPS was $1.11, compared with $1.09 in the fourth quarter and $0.58 in the first quarter of 2025.
Pre-tax income rose to $400 million from a $284 million loss a year ago and was up $14 million sequentially. Core pre-tax income increased to $470 million from $247 million in the prior-year quarter and $461 million in the fourth quarter. Return on common equity was 8.8%, versus 9.2% in the prior quarter and negative 8.6% a year ago. Core ROTCE was 11.1%, flat from the fourth quarter and up from 6.7% in the first quarter of 2025.
Total net revenue was $2.102 billion, down 1% from $2.123 billion in the fourth quarter but up 36% from $1.541 billion a year earlier. Adjusted total net revenue was $2.179 billion, up from $2.165 billion in the prior quarter and $2.065 billion a year ago.
Net financing revenue was $1.589 billion, down $9 million sequentially but up $111 million year over year. Net interest margin was 3.48%, while net interest margin excluding core OID was 3.52%, up 1 basis point from the prior quarter and 17 basis points from a year earlier.
Other revenue was $513 million, down $12 million from the fourth quarter but up $450 million from the first quarter of 2025. Adjusted other revenue was $572 million, up $22 million sequentially and essentially flat year over year. Provision for credit losses was $467 million, down $20 million from the prior quarter but up $276 million from a year ago. Noninterest expense was $1.235 billion, down $15 million sequentially and down $399 million year over year.
The company ended the quarter with a common equity tier 1 ratio of 10.1%, about 60 basis points higher than a year earlier, and repurchased $147 million of stock during the quarter.
In dealer financial services, pre-tax income was $364 million, down from $463 million in the fourth quarter and $377 million a year ago. Automotive finance pre-tax income was $336 million, down $36 million sequentially and $39 million year over year. Insurance pre-tax income was $28 million, down from $91 million in the fourth quarter but up from $2 million a year ago. Corporate finance pre-tax income was $94 million, down $4 million sequentially but up $18 million from the prior-year quarter.
Ally originated $11.5 billion of consumer auto loans from a record 4.4 million applications. Retail auto originated yield was 9.60%, with 41% of originations in the highest credit quality tier. Retail auto net charge-offs were 197 basis points, down 15 basis points year over year.
Retail deposits totaled $146 billion, with 3.5 million customers, after 68 straight quarters of customer growth. The market has reacted to these announcements by moving the company's shares -0.23% to a price of $39.14. If you want to know more, read the company's complete 8-K report here.
