SYF Q2 2022 Earnings Report — Synchrony Financial Revenue & Financial Results | Market Cap Arena

Synchrony FinancialSYF

Q2 2022 Earnings

Reported July 21, 2022

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2022	Q1 2022	Q2 2021	QoQ Change	YoY Change
Revenue	$3.1B	$3.0B	$2.7B	3.9%	18.2%
Op. Income	$1.1B	$1.2B	$1.6B	-13.5%	-35.0%
Gross Margin	68.3%	75.1%	97.3%	-6.8pp	-29.0pp
Net Margin	25.6%	30.8%	46.7%	-5.2pp	-21.1pp
EPS (Diluted)	$1.62	$1.79	$2.12	-9.5%	-23.6%
Free Cash Flow	$1.8B	$1.4B	$1.4B	30.2%	26.1%

Revenue Flow

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$996M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$135M
General & Administrative	$404M
SG&A Expenses	$539M
Other Expenses	$544M
Operating Expenses	$1.1B
Cost & Expenses	$2.1B
OPERATING INCOME	$1.1B
Interest Income	$4.1B
Interest Expense	$272M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$262M
Net Income from Continuing Ops	$804M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$804M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$793M
D&A	$106M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Income Statement

Item	Amount
REVENUE	$3.1B
Cost of Revenue	$996M
GROSS PROFIT	$2.1B
R&D Expenses	$0
Selling & Marketing	$135M
General & Administrative	$404M
SG&A Expenses	$539M
Other Expenses	$544M
Operating Expenses	$1.1B
Cost & Expenses	$2.1B
OPERATING INCOME	$1.1B
Interest Income	$4.1B
Interest Expense	$272M
Other Income/Expenses	$0
INCOME BEFORE TAX	$1.1B
Income Tax Expense	$262M
Net Income from Continuing Ops	$804M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$804M
Net Income Deductions	-$11M
BOTTOM LINE NET INCOME	$793M
D&A	$106M
EBIT	$1.1B
EBITDA	$1.2B
EPS	$2
EPS Diluted	$2

Cash Flow Statement

Item	Amount
Net Income	$804M
Depreciation & Amortization	$106M
Stock-Based Compensation	$0
Deferred Income Tax	-$123M
Other Non-Cash Items	$767M
Change in Working Capital	$263M
OPERATING CASH FLOW	$1.8B
Capital Expenditure	$0
Acquisitions (Net)	$0
Purchases of Investments	-$1.2B
Sales/Maturities of Investments	$809M
Other Investing Activities	-$679M
NET CASH FROM INVESTING	-$1.1B
Net Debt Issuance	-$3.0B
Common Stock Repurchased	-$701M
Common Dividends Paid	-$108M
Other Financing Activities	$2.9B
NET CASH FROM FINANCING	-$899M
FREE CASH FLOW	$1.8B
Net Change in Cash	-$134M

Balance Sheet

Item	Amount
Cash & Equivalents	$10.7B
Short-Term Investments	$5.0B
Net Receivables	$0
Inventory	$0
Other Current Assets	$0
TOTAL CURRENT ASSETS	$15.7B
PP&E (Net)	$0
Goodwill	$1.1B
Intangible Assets	$1.1B
Long-Term Investments	$82.5B
Tax Assets	$0
Other Non-Current Assets	-$5.2B
TOTAL NON-CURRENT ASSETS	$79.5B
TOTAL ASSETS	$95.2B
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$64.7B
TOTAL CURRENT LIABILITIES	$69.7B
Long-Term Debt	$12.2B
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$12.2B
TOTAL LIABILITIES	$81.8B
Common Stock	$1M
Additional Paid-In Capital	$9.7B
Retained Earnings	$15.7B
Treasury Stock	-$12.5B
Accum. Other Comp. Income	-$149M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$13.4B
Minority Interest	$0
TOTAL EQUITY	$13.4B
TOTAL LIABILITIES & EQUITY	$95.2B
Total Debt	$12.2B
Net Debt	$1.5B