---
schema_version: "secwatch.filing_event.v1"
accession: "0001601712-23-000122"
form_type: "8-K"
ticker: "SYF"
cik: "0001601712"
company_name: "Synchrony Financial"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:38:43.566146+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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%.

## SEC filing metadata
- accession: 0001601712-23-000122
- form_type: 8-K
- ticker: SYF
- cik: 0001601712
- company_name: Synchrony Financial
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1601712/000160171223000122/0001601712-23-000122-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1601712/000160171223000122/syf-20230419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001601712-23-000122
- JSON: https://secwatch.observer/filing/0001601712-23-000122.json
- Plain text: https://secwatch.observer/filing/0001601712-23-000122.txt

## Key facts
- Earnings Releases
  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
  source text: On April 19, 2023 , Synchrony Financial (the “Company”) issued a press release setting forth the Company’s first quarter 2023 earnings.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1601712/000160171223000122/0001601712-23-000122-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.