secwatch.observer — SEC 8-K summary
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Issuer:     Synchrony Financial (SYF)
CIK:        0001601712
Form:       8-K
Filed at:   2024-04-24T23:59:59+00:00
Accession:  0001601712-24-000159
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Synchrony Q1 GAAP EPS $3.14, adj EPS $1.18; loan rec up 12%; net charge-offs 6.31%
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- GAAP net earnings $1.3B ($3.14 diluted EPS); adjusted net earnings $491M ($1.18) excl Pets Best gain.
- Loan receivables $101.7B (+12% YoY); purchase volume $42.4B (+2%); net interest income $4.4B (+9%).
- Net charge-off rate 6.31% vs 4.49% YoY; 30+ day delinquencies 4.74%; allowance coverage 10.72%.
- Returned $402M capital ($300M buybacks, $102M dividends); Board approved $1B incremental buyback auth.
- Completed Pets Best sale ($1.1B pretax gain) and Ally Lending acquisition ($190M reserve build).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000159/0001601712-24-000159-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1601712/000160171224000159/syf-20240424.htm
  HTML page:      https://secwatch.observer/filing/0001601712-24-000159

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