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.

Total Revenue

$3.66B

Previous year: $4.03B