secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2023-07-18T23:59:59+00:00
Accession:  0001601712-23-000199
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony Q2 net earnings fall 29% to $569M, provision up 91%; credit normalizing
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- Diluted EPS $1.32 vs $1.60 YoY; net earnings $569M down from $804M.
- Loan receivables $94.8B (+15% YoY); purchase volume flat at $47.3B.
- Provision for credit losses $1.38B (+91% YoY) on higher net charge-offs and reserve build.
- Net charge-offs 4.75% (up from 2.73%); 30+ day delinquencies 3.84% (up from 2.74%).
- Returned $399M to shareholders; new $1B repurchase authorization through June 2024; dividend raised 9%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171223000199/0001601712-23-000199-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171223000199/syf-20230718.htm
  HTML page:      https://secwatch.observer/filing/0001601712-23-000199

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer