Synchrony Q4 net earnings $440M ($1.03 EPS) down 24% YoY; loan receivables up 11% to $103B

Synchrony Financial

2023-FY EPS reported $5.19

Net earnings $440M ($1.03 diluted EPS) vs $577M ($1.26) in Q4 2022, down 24%.
Provision for credit losses surged 50% to $1.8B; net charge-off rate 5.58% (up 210 bps YoY).
Loan receivables grew 11% to $103.0B; purchase volume up 3% to $49.3B.
Returned $353M to shareholders ($250M buybacks, $103M dividends); CET1 ratio 12.2%.
Deposits up 13% to $81.2B; announced acquisition of Ally Lending’s POS business.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Synchrony Financial reported fourth quarter 2023 results: net income $440 million, EPS $1.03 per diluted share.

Period: fourth quarter 2023
Net income: $440 million
EPS: $1.03 per diluted share
Result: reported results

Exact text from the filing

Synchrony Financial (the “Company”) issued a press release setting forth the Company’s fourth quarter 2023 earnings.

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Source: SEC EDGAR

accession 0001601712-24-000023

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