Synchrony Financial (NYSE:SYF) reported fourth-quarter financial numbers Monday morning. Non-GAAP EPS were $1.26, beating estimates by $0.13. Revenue of $4.14B (+3.8% Y/Y) beat by $1.09B .
Loan receivables were $92.5 billion and increased 15% on both a GAAP and Core basis
Average active accounts decreased 1% to 68.4 million, and increased 8% on a Core basis
New accounts decreased 13% to 6.4 million, or 3% on a Core basis. Net interest margin decreased 19 basis points to 15.58%. Efficiency ratio decreased 390 basis points to 37.2%
Return on assets decreased 120 basis points to 2.2%. Return on equity decreased 550 basis points to 17.5%; return on tangible common equity decreased 660 basis points to 22.1%
Synchrony is a premier consumer financial services company delivering one of the industry's most complete digitally-enabled product suites.
“Our experience, expertise and scale,” to quote the company website, “encompass a broad spectrum of industries including digital, health and wellness, retail, telecommunications, home, auto, outdoor, pet and more. We have an established and diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which we refer to as our ‘partners’.
We connect our partners and consumers through our dynamic financial ecosystem and provide them with a diverse set of financing solutions and innovative digital capabilities to address their specific needs and deliver seamless, omnichannel experiences."
SYF shares began the week off 61 cents, or 1.7%, to $34.80.
