Ally Financial Inc (ALLY) Q3 2020 Earnings Call TranscriptOctober 17, 2020
Ally Financial Inc (NYSE:ALLY)
Q3 2020 Earnings Call
Oct 16, 2020, 9:00 a.m. ET
- Prepared Remarks
- Questions and Answers
- Call Participants
Ladies and gentlemen, thank you for standing by and welcome to the Ally Financial Third Quarter 2020 Earnings Call. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions].
I would now like to turn today’s conference call, Mr. Daniel Eller, Investor Relations, you may begin sir.
Daniel Eller — Executive Director, Investor Relations
Thank you, Kevin. We appreciate everyone joining us to review Ally Financial’s third quarter 2020 results. This morning, we have our CEO, Jeff Brown; and our CFO, Jenn LaClair on the call, to review results and take questions. Before beginning, I’ll note that the presentation we’ll reference throughout the call, can be found on the Ally Investor Relations website. On slide 2, you’ll find the forward-looking statements and risk factor language that will govern in today’s call, and on slide 3 we’ve included several GAAP or non-GAAP metrics, which we refer to as core measures pertaining to Ally’s operating performance and capital results. These metrics are supplemental to, and not a substitute for GAAP measures definitions and reconciliations can be found in the appendix.
With that, I’ll turn the call over to JB.
Jeffrey J. Brown — Chief Executive Officer
Thank you, Daniel. Good morning everyone and thank you for joining us to review our results. Slide number 4 includes highlights from the third quarter, demonstrating performance across all of our lines of business. I’ll begin with a broader perspective on these results, which serve as further validation around our ability to continuously deliver. Our steady execution over the past several years, positions us for success in a variety of operating environments. We are guided by consistent set of strategic priorities and a customer-centric philosophy to always do it right. Our results show this focus is resonating, particularly during challenging environments, as we’re operating in today. This simple but effective approach echoes throughout the culture at Ally, and shows up in the innovative, engaging and leading actions we’ve taken on behalf of our customers, and is further evidenced within our community efforts, where we’ve committed time and increased resources to effect positive and lasting change.
Turning to the quarter; adjusted EPS was $1.25 and core ROTCE was 15.2%. These record setting levels reflected in revenue expansion from embedded balance sheet tailwinds and diversified income sources, combined with credit outperformance. Our balance sheet strength is apparent across capital,…