secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0001601712-23-000122
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171223000122/0001601712-23-000122-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171223000122/syf-20230419.htm
  HTML page:      https://secwatch.observer/filing/0001601712-23-000122

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