How much money did Aflac, Global Payments and Synovus make in 2021? Here’s the breakdown
In the second year of the COVID-19 pandemic, Aflac, Global Payments and Synovus continued to feel its effects. Some performed beyond expectations.
One company reported a record-breaking year while another saw a drop from its 2020 performance. Here’s what you need to know about these three publicly traded and Columbus-affiliated companies.
Aflac
Aflac, a Columbus-based insurer and Fortune 500 company, posted a weaker 2021 financial performance than it did the year before.
As of Dec. 31, Aflac reported total revenues of $22.11 billion, slightly down from the $22.15 billion reported in 2020. The company reported a profit of $4.33 billion, down from 2020 net earnings of $4.78 billion.
Its Q4 2021 saw lower total revenue but higher profit than the year before. Aflac reported a three-month profit of just over $1 billion, up from $951 million in Q4 2020. The company’s Q4 2021 total revenue was $5.43 billion, down from $5.91 billion over the same period in 2020.
Q4 net earnings included “pretax adjusted net investment gains of $246 million,” the company reported.
Other key figures include:
Total investments and cash at the end of December 2021 were $143 billion, down from $149.8 billion on Dec. 31, 2020.
Q4 2021 net earnings per share were $1.58, up from $1.36 during Q4 2020.
“The company generated strong earnings for the year, largely supported by the continuation of low benefit ratios associated with pandemic conditions and better-than-expected returns from alternative investments,” Aflac Chairman and CEO Dan Amos said in a statement. “While we saw improvements in the quarter for both the United States and Japan, we continue to remain cautiously optimistic in the face of ongoing pandemic conditions.”
Global Payments
Global Payments, a Fortune 500 financial technology company with dual headquarters in Atlanta and Columbus, said in a news release that it had the best performance in the company’s history in 2021.
Global Payments reported total revenue of $8.52 billion, up from $7.42 billion in 2020. The company reported a 2021 profit of $987.9 million, an improvement over reported net income of $605.1 million in 2020.
In Q4 2021, Global Payments reported total revenue of $2.19 billion, up from $1.93 billion during the same period in 2020. The company reported a net income of $217.2 million, more than its Q4 2020 total of $184.8 million.
Other key figures include:
For all of 2021, diluted earnings per share were $3.29 compared to $1.95 in the prior year, and operating margin was 15.9% compared to 12.0% in 2020.
Global Payments’ board of directors approved a dividend of $0.25 per share payable March 25, 2022, to shareholders of record as of March 11, 2022
The company also made its debut on the Fortune 500 list in 2021 following a strong 2020 performance.
“Our performance for the full year meaningfully exceeded our initial expectations despite the unexpected impact of COVID-19 variants,” Paul Todd, senior executive vice president and CFO, said in a statement. “We are pleased with how our business is positioned as we enter 2022 and the resulting financial outlook for the year.
The company projects another record year in 2022 with adjusted net revenues expected to range from $8.42 billion to $8.50 billion, reflecting growth of 9% to 10% over 2021. The projections assume continued worldwide recovery from the COVID-19 pandemic.
Synovus
Synovus, a Columbus banking and financial services firm, reported a 2021 profit of $760.5 million, a significant increase from a reported net income of $373.7 million in 2020.
In Q4 2021, the company reported a profit of $200.4 million, up from $150.4 million in total net income over the same three-month period in 2020.
Other key figures include:
At the end of Q4 2021, Synovus reported total loans of $39.3 billion, up from $38.3 billion at the end of 2020.
Synovus reported total deposits of $49.4 billion at the end of Q4 2021. That’s more than the $46.7 billion reported at the end of 2020.
The company made several important transactions last year. The city of Columbus agreed to pay Synovus $25 million for five of its downtown properties in late 2021.
The Columbus company plans to consolidate its nine Uptown locations into two possible locations and one downtown branch that will include a drive-through by the first half of 2024. A new downtown Synovus office facility is expected to be completed in May 2024, according to a fact sheet about the deal.
Further details about the company’s plans have not been released.
This story was originally published February 16, 2022 at 5:00 AM.