$SYF (Synchrony Financial)

$SYF {{ '2016-04-22T10:58:10+0000' | timeago}} • Announcement

Stamford, Connecticut-based $SYF posted a 5.4% YoverY rise in net income to $582MM, or $0.70 per diluted share, in 1Q16. Total platform revenue grew 13% to $2.9Bil. "Each of our business platforms delivered strong performance resulting in double-digit growth in overall purchase volume, platform revenue and loan receivables," said CEO Margaret Kean.

$SYF {{ '2017-04-28T15:37:46+0000' | timeago}} • Webcast

$SYF commented that it is seeing attractive risk adjusted returns in 2017, but the company has not made significant changes to its underwriting models. The changes $SYF have been making and what it will be making will be surgical in nature. The company added that it will continue to refine its strategies moving throughout 2017.

$SYF {{ '2017-04-28T12:17:32+0000' | timeago}} • Announcement

$SYF's 1Q17 period-end loan receivables growth remained strong at 11%, mainly driven by purchase volume growth of 7% and average active account growth of 5%. Deposits grew to $52Bil, up $7Bil, or 15%, and comprised 72% of funding compared to 69% a year ago.

$SYF {{ '2017-04-28T12:13:29+0000' | timeago}} • Announcement

Financial services company $SYF reported a 14.26% decline in 1Q17 earnings, hurt by higher provision for loan losses and higher expenses. Net earnings attributable to common stockholders was $499MM, or $0.61 per share compared to $582MM, or $0.70 per share in 1Q16. Net interest income rose 12% to $3.6Bil, driven by strong loan receivables growth.

$SYF {{ '2017-04-27T13:44:03+0000' | timeago}} • Announcement

$SYF's BoD declared a quarterly cash dividend of $0.13 per share of common stock. The dividend is payable on May 18, 2017 to shareholders of record at the close of business on May 8, 2017.

$SYF {{ '2017-04-26T15:31:20+0000' | timeago}} • Announcement

CareCredit, a $SYF company, announced a new multi-year agreement with Athletico Physical Therapy. This relationship provides patients of Athletico's over 370 physical and occupational therapy facilities across the country full access to CareCredit’s health, wellness and personal care credit card.

$SYF {{ '2017-03-27T14:48:21+0000' | timeago}} • Announcement

$SYF announced a multi-year extension of its agreement to continue providing a private label credit card program for Midas, an automotive aftermarket service retailer. For more than a decade, $SYF has provided the Midas Credit Card, allowing motorists to maintain and repair their cars and trucks for both planned and unexpected automotive expenses.

$SYF {{ '2017-03-20T12:21:40+0000' | timeago}} • Announcement

Consumer financial services company $SYF acquired GPShopper, a developer of mobile apps that offer retailers and brands a full suite of commerce, engagement and analytic tools. Financial terms of the transaction were not disclosed.

$SYF {{ '2017-02-21T16:14:15+0000' | timeago}} • Announcement

CareCredit, an $SYF company, agreed with $C to buy the Citi Health Card portfolio for undisclosed terms, further expanding its healthcare acceptance network in the United States. The portfolio acquisition includes more than 14,500 providers, and more than 110,000 current Citi Health Card consumer accounts.

$SYF {{ '2017-01-26T11:39:15+0000' | timeago}} • Announcement

$SYF's BoD declared a quarterly cash dividend of $0.13 per share of common stock. The dividend is payable on Feb. 16, 2017 to shareholders of record on Feb. 6, 2017.

$SYF {{ '2017-01-25T15:05:58+0000' | timeago}} • Announcement

$SYF and private department store company Belk agreed to a multi-year renewal of Synchrony Financial’s consumer financing program. $SYF has provided a consumer financing program for Belk through the Belk Rewards program for more than a decade.

$SYF {{ '2017-01-25T12:09:07+0000' | timeago}} • Announcement

CareCredit, a $SYF company, announced a new, multi-year agreement with Henry Schein Financial Services, LLC, a subsidiary of Henry Schein. CareCredit will provide patient financing services and offer integrated solutions with Henry Schein's practice management software programs.

$SYF {{ '2017-01-20T19:14:26+0000' | timeago}} • Webcast

With regards to tax changes, $SYF said that there are lot of speculations going on right now. The company added that it will wait and see what kind of benefits will it realize on tax reforms. $SYF is funding the majority of the strategic projects it has identified and it will consider on funding more on that to drive growth.

$SYF {{ '2017-01-20T18:52:32+0000' | timeago}} • Webcast

$SYF said that its online sales were up 20% in 4Q16, which was above the industry average of about 15%. The company added that now it is getting about 40% of the applications online.

$SYF {{ '2017-01-20T18:44:10+0000' | timeago}} • Webcast

For 2017, $SYF assumes that Fed tightening 25 BPs in late 2017 and a stable to slightly improving unemployment rate. The company anticipates net interest margin to be 15.75-16.00%. $SYF expects to realize a modest benefit from the Dec. rate increase and expects this to be more than offset by the continued strong growth in payment solutions.

$SYF {{ '2017-01-20T18:43:30+0000' | timeago}} • Webcast

$SYF anticipates a modest degree of normalization from the low credit trends experienced over the past two years. Given the healthy economic backdrop, the company expects the pace of this normalization to occur gradually over time.

$SYF {{ '2017-01-20T18:27:17+0000' | timeago}} • Webcast

In 4Q16, $SYF's other expenses increased 6% vs. last year, driven by growth in bringing certain third-party services in house to be managed by the employees. Going forward, $SYF expects expenses to be driven by growth, including strategic investments in sales platforms and direct deposit program, and enhancements to digital and mobile capabilities.

$SYF {{ '2017-01-20T12:17:16+0000' | timeago}} • Announcement

$SYF said its BoD declared a quarterly common stock dividend payment of $0.13 per share and repurchased $238MM of $SYF common stock.

$SYF {{ '2017-01-20T12:07:41+0000' | timeago}} • Announcement

During 4Q16, $SYF's net interest income grew 13% to $420MM, driven by strong loan receivables growth. Net interest income after retailer share arrangements rose 14%. Provision for loan losses increased $253MM to $1.076Bil. Purchase volume during the quarter increased 9% from 4Q15.

$SYF {{ '2017-01-20T12:00:02+0000' | timeago}} • Announcement

Financial services company $SYF reported 5.3% growth in 4Q16 earnings, helped by higher net interest income and deposit growth. $SYF's net earnings attributable to common stockholders was $576MM, or $0.70 per share compared to $547MM, or $0.65 per share in 4Q15. Net interest income rose 13% to $3.6Bil, driven by strong loan receivables growth.

$SYF {{ '2016-10-28T10:50:23+0000' | timeago}} • Announcement

$SYF said its BoD declared a quarterly cash dividend of $0.13 per share of common stock. The dividend is payable on Nov. 17, 2016 to shareholders of record at the close of business on Nov. 7, 2016.

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