Synchrony Q1 net earnings down 35.5% YoY to $601M; EPS $1.35 vs $1.77

Synchrony Financial

2023-Q1 EPS reported $1.35

Net interest income up 6.9% to $4,051M; provision for credit losses surged 147.6% to $1,290M.
Loan receivables grew 15.5% to $91.1B; purchase volume rose 2.6% to $41.6B (record Q1).
Net charge-offs as % of avg loans rose to 4.49% from 2.73% YoY; allowance coverage 10.44%.
Returned $500M capital: $400M buybacks + $100M dividends; CET1 ratio 12.5%.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Synchrony Financial reported first quarter 2023 results: net income net earnings of $601 million, EPS $1.35 per diluted share.

Period: first quarter 2023
Net income: net earnings of $601 million
EPS: $1.35 per diluted share
Result: reported results

Exact text from the filing

On April 19, 2023 , Synchrony Financial (the “Company”) issued a press release setting forth the Company’s first quarter 2023 earnings.

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Source: SEC EDGAR

accession 0001601712-23-000122

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