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Dec 31, 2020
Synchrony Q4 2020 Earnings Report
Synchrony reported Q4 2020 net earnings of $738 million, or $1.24 per diluted share, with improving trends but continued pandemic impact.
Key Takeaways
Synchrony Financial reported fourth quarter 2020 net earnings of $738 million, or $1.24 per diluted share. The company saw improvements in net charge-offs but was still impacted by the COVID-19 pandemic. They focused on building for the future with renewals, new programs, and an acquisition, and the board approved a $1.6 billion share repurchase program.
Loan receivables decreased 6% to $81.9 billion.
Purchase volume decreased 1% to $39.9 billion.
Average active accounts decreased 10% to 66.3 million.
Net earnings increased $7 million, or 1%, to $738 million.
Synchrony
Synchrony
Forward Guidance
Synchrony is focused on navigating the evolving environment and investing in digital capabilities for future growth.