SYF Q1 2019 Earnings Report — Synchrony Financial Revenue & Financial Results | Market Cap Arena

Synchrony FinancialSYF

Q1 2019 Earnings

Reported April 25, 2019

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q1 2019	Q4 2018	Q1 2018	QoQ Change	YoY Change
Revenue	$3.9B	$4.1B	$3.6B	-3.9%	9.0%
Op. Income	$1.5B	$1.0B	$847M	44.5%	72.6%
Gross Margin	63.8%	51.2%	51.0%	12.7pp	12.9pp
Net Margin	28.2%	19.2%	17.8%	9.0pp	10.4pp
EPS (Diluted)	$1.56	$1.09	$0.83	43.1%	88.0%
Free Cash Flow	$2.3B	$2.6B	$1.9B	-11.1%	19.5%

Revenue Flow

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$123M
General & Administrative	$353M
SG&A Expenses	$476M
Other Expenses	$567M
Operating Expenses	$1.0B
Cost & Expenses	$2.5B
OPERATING INCOME	$1.5B
Interest Income	$4.8B
Interest Expense	$560M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$355M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$87M
EBIT	$1.5B
EBITDA	$1.5B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.9B
Cost of Revenue	$1.4B
GROSS PROFIT	$2.5B
R&D Expenses	$0
Selling & Marketing	$123M
General & Administrative	$353M
SG&A Expenses	$476M
Other Expenses	$567M
Operating Expenses	$1.0B
Cost & Expenses	$2.5B
OPERATING INCOME	$1.5B
Interest Income	$4.8B
Interest Expense	$560M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.5B
Income Tax Expense	$355M
Net Income from Continuing Ops	$1.1B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.1B
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$1.1B
D&A	$87M
EBIT	$1.5B
EBITDA	$1.5B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.1B
Depreciation & Amortization	$87M
Stock-Based Compensation	$859M
Deferred Income Tax	$145M
Other Non-Cash Items	$144M
Change in Working Capital	-$53M
OPERATING CASH FLOW	$2.3B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$2.0B
Sales/Maturities of Investments	$2.2B
Other Investing Activities	$3.6B
NET CASH FROM INVESTING	$3.8B
Net Debt Issuance	-$2.1B
Common Stock Repurchased	-$967M
Common Dividends Paid	-$150M
Other Financing Activities	$44M
NET CASH FROM FINANCING	-$3.2B
FREE CASH FLOW	$2.3B
Net Change in Cash	$2.9B

Balance Sheet

Item	Amount
Cash & Equivalents	$13.0B
Short-Term Investments	$5.5B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$18.5B
PP&E (Net)	$0
Goodwill	$1.1B
Intangible Assets	$1.3B
Long-Term Investments	$88.5B
Tax Assets	$0
Other Non-Current Assets	-$3.9B
TOTAL NON-CURRENT ASSETS	$86.9B
TOTAL ASSETS	$105.4B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$64.1B
TOTAL CURRENT LIABILITIES	$68.8B
Long-Term Debt	$21.9B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$21.9B
TOTAL LIABILITIES	$90.7B
Common Stock	$1M
Additional Paid-In Capital	$9.5B
Retained Earnings	$9.9B
Treasury Stock	-$4.7B
Accum. Other Comp. Income	-$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.7B
Minority Interest	$0
TOTAL EQUITY	$14.7B
TOTAL LIABILITIES & EQUITY	$105.4B
Total Debt	$21.9B
Net Debt	$8.9B