Ally Financial Inc. (NYSE:ALLY) Q1 2022 Earnings Conference Call April 14, 2022 9:00 AM ET

Company Participants

Sean Leary - Head, Investor Relations

Jeff Brown - Chief Executive Officer

Jen LaClair - Chief Financial Officer

Conference Call Participants

Bill Carcache - Wolfe Research

Ryan Nash - Goldman Sachs

Sanjay Sakhrani - KBW

Jeff Adelson - Morgan Stanley

Moshe Orenbuch - Credit Suisse

Rob Wildhack - Autonomous Research

Operator

Good day, ladies and gentlemen. Thank you for standing by and welcome to the Ally Financial First Quarter 2022 Earnings Conference Call. [Operator Instructions] I would now like to turn the conference over to your speaker host today, Mr. Sean Leary, Head of Investor Relations. Please go ahead.

Sean Leary

Thank you, Olivia. Good morning and welcome to Ally Financial’s first quarter 2022 earnings call. This morning, our CEO, Jeff Brown; and our CFO, Jen LaClair, will review Ally’s results before taking questions.

The presentation we will reference on today’s call can be found on the Investor Relations section of our website, ally.com. Forward-looking statements and risk factor language governing today’s call are on Slide 2. GAAP and non-GAAP measures pertaining to our operating performance and capital results are on Slide 3. As a reminder, non-GAAP or core metrics are supplemental to and not a substitute for U.S. GAAP measures. Definitions and reconciliations can be found in the appendix.

And with that, I will turn the call over to J.B.

Jeff Brown

Thank you, Sean and welcome to your first earnings call in your expanded role as the Head of Investor Relations. I have worked directly with Sean for over 13 years at Ally and he will be a terrific liaison with the analyst and investor community. He is a great asset for our company and welcome to the role, Sean.

We do appreciate everyone joining us this morning to review our first quarter results. I am going to begin on Slide #4. Performance this quarter remained very strong and our results underscore the scale and durability of our growing businesses. We have been operating in a rapidly evolving environment for several years now and the start to 2022 certainly continues that trend. In addition to lingering pandemic uncertainties, geopolitical unrest and more pronounced signs of inflation are being met with rising interest rates and the expected normalization of the Federal Reserve balance sheet.

Before getting into our results, I also want to acknowledge and express our deep empathy for those impacted by the war in Ukraine. The stories and images are tragic and our thoughts are with all of those suffering through this terrible humanitarian crisis. We are certainly hopeful for a rapid resolution, but recognize the ramifications could be long lasting. This operating environment has driven market volatility that will continue in the near term. However, I remain confident in Ally’s outlook given the strength of our businesses and consistent focus on disciplined, long-term execution.