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Sep 30, 2020
Synchrony Q3 2020 Earnings Report
Synchrony reported earnings for Q3 2020, which included a restructuring charge and a CECL impact.
Key Takeaways
Synchrony Financial reported a net earnings of $313 million, or $0.52 per diluted share, for the third quarter of 2020. The results included a restructuring charge of $89 million and an increase in the provision for credit losses due to CECL implementation of $66 million. The company successfully launched an innovative, digital-first program with Venmo and renewed its relationship with Sam's Club.
Net earnings totaled $313 million compared to $1.1 billion last year.
Period-end loan receivables decreased 6%.
Purchase volume decreased 6%.
Average active accounts decreased 16%.
Forward Guidance
No specific forward guidance was provided in the release.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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