Santander Consumer USA (SC) Tops Q4 EPS by 59c
- S&P 500, Dow climb for third day and close at records
- Tesla (TSLA) China Numbers 'Robust' - Wedbush
- Apple (AAPL) Shares Seen as 'Attractive' as Recent Checks Show Continuously Strong Demand - Citi
- Investors Poured More Money Into Stocks in Past 5 Months Than Last 12 Years, Says BofA, Analysts Worried About Stretched Valuations
- Amazon.com warehouse workers vote to reject forming union in Alabama
Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.
Santander Consumer USA (NYSE: SC) reported Q4 EPS of $1.70, $0.59 better than the analyst estimate of $1.11.
"I am very pleased with our 2020 results, particularly given the challenges presented by the pandemic. Over the course of the year, we responded quickly to execute a work from home strategy for the entire organization, and implemented additional paid emergency leave and premium pay for frontline employees. SC provided relief to nearly 700,000 customers, via loan deferrals, and achieved all-time highs in our customer satisfaction scores. We continued to support FCA participating in incentive programs and assisting FCA customers through lessee extensions and first payment deferrals. We supported our communities through the SC Foundation, which donated over $3 million to organizations caring for those hardest hit by the crisis. I am very excited about our recently announced partnership with Operation Hope, which will provide our employees with the financial literacy tools needed for a successful future. We have a clear strategic vision focused on dealer and customer satisfaction, enhancing our digital presence and achieving sustainable profitability," said Mahesh Aditya, SC President and CEO.
Fahmi Karam, SC Chief Financial Officer, added, "Despite the challenges in 2020, we earned $911 million in net income, originated $31 billion across loans and leases and returned nearly $1 billion in capital to our shareholders. We also strengthened our balance sheet, ending the year at a CET1 Ratio of 14.6% and a loan loss reserve of $6.1 billion, which positions SC well to handle the remaining uncertainty in the macro environment. We are pleased with the continued strength of the portfolio's performance and remain focused on generating assets with strong risk-adjusted returns to drive long-term shareholder value."
For earnings history and earnings-related data on Santander Consumer USA (SC) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- WD-40 Co. (WDFC) Misses Q2 EPS by 8c
- PriceSmart (PSMT) Announces March Net Merchandise Sales
- Levi (LEVI) Tops Q1 EPS by 7c, Raises First Half Outlook
Create E-mail Alert Related CategoriesCorporate News, Earnings, Management Comments
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!