One Quarter After Announcing the Loss of Walmart, Synchrony Produces Impressive Results
No-moat Synchrony’s third quarter was a bright spot after a series of lowlights for the company. If it weren’t for the pending loss of the Walmart credit card portfolio, we’d be pleased with the company’s performance. The firm earned $0.91 per share, an increase of 30% from the prior-year third quarter. Much of this growth is attributable to receivables growth and lower credit losses. For the quarter, average receivables grew by 16.5% from the previous year. We’ll remind investors that this quar...Synchrony Financial is a savings and loan holding company and financial holding company. Through its subsidiaries, the company delivers a range of financing programs, as well as consumer banking products, across key industries including digital, retail, home, auto, travel, health and pet. The company provides a range of credit products through its financing programs which it has established with a group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which it refers to as its partners. Through its partners, the company provides their customers a variety of credit products to finance the purchase of goods and services.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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