SYF Q2 2021 Earnings Report — Synchrony Financial Revenue & Financial Results | Market Cap Arena

Synchrony FinancialSYF

Q2 2021 Earnings

Reported July 22, 2021

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2021	Q1 2021	Q2 2020	QoQ Change	YoY Change
Revenue	$2.7B	$2.9B	$3.2B	-7.7%	-15.6%
Op. Income	$1.6B	$1.3B	$59M	24.8%	2681.4%
Gross Margin	97.3%	77.9%	33.2%	19.4pp	64.1pp
Net Margin	46.7%	35.5%	1.5%	11.1pp	45.2pp
EPS (Diluted)	$2.12	$1.73	$0.06	22.5%	3249.1%
Free Cash Flow	$1.4B	$1.8B	$2.4B	-21.6%	-39.5%

Revenue Flow

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$72M
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$114M
General & Administrative	$359M
SG&A Expenses	$473M
Other Expenses	$475M
Operating Expenses	$948M
Cost & Expenses	$1.0B
OPERATING INCOME	$1.6B
Interest Income	$3.6B
Interest Expense	$266M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$399M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	-$10M
BOTTOM LINE NET INCOME	$1.2B
D&A	$97M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$2.7B
Cost of Revenue	$72M
GROSS PROFIT	$2.6B
R&D Expenses	$0
Selling & Marketing	$114M
General & Administrative	$359M
SG&A Expenses	$473M
Other Expenses	$475M
Operating Expenses	$948M
Cost & Expenses	$1.0B
OPERATING INCOME	$1.6B
Interest Income	$3.6B
Interest Expense	$266M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.6B
Income Tax Expense	$399M
Net Income from Continuing Ops	$1.2B
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$1.2B
Net Income Deductions	-$10M
BOTTOM LINE NET INCOME	$1.2B
D&A	$97M
EBIT	$1.6B
EBITDA	$1.7B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$1.2B
Depreciation & Amortization	$97M
Stock-Based Compensation	-$194M
Deferred Income Tax	$70M
Other Non-Cash Items	$135M
Change in Working Capital	$91M
OPERATING CASH FLOW	$1.4B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$519M
Sales/Maturities of Investments	$1.3B
Other Investing Activities	-$2.7B
NET CASH FROM INVESTING	-$1.9B
Net Debt Issuance	-$1.7B
Common Stock Repurchased	-$393M
Common Dividends Paid	-$128M
Other Financing Activities	-$2.9B
NET CASH FROM FINANCING	-$5.1B
FREE CASH FLOW	$1.4B
Net Change in Cash	-$5.6B

Balance Sheet

Item	Amount
Cash & Equivalents	$11.1B
Short-Term Investments	$5.7B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$16.8B
PP&E (Net)	$0
Goodwill	$1.1B
Intangible Assets	$1.1B
Long-Term Investments	$78.4B
Tax Assets	$0
Other Non-Current Assets	-$5.4B
TOTAL NON-CURRENT ASSETS	$75.2B
TOTAL ASSETS	$92.0B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$59.8B
TOTAL CURRENT LIABILITIES	$64.4B
Long-Term Debt	$13.5B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$13.5B
TOTAL LIABILITIES	$77.8B
Common Stock	$1M
Additional Paid-In Capital	$9.6B
Retained Earnings	$12.6B
Treasury Stock	-$8.7B
Accum. Other Comp. Income	-$56M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$14.2B
Minority Interest	$0
TOTAL EQUITY	$14.2B
TOTAL LIABILITIES & EQUITY	$92.0B
Total Debt	$13.5B
Net Debt	$2.3B