earnings
confidence high
sentiment neutral
materiality 0.75
Synchrony Q2 net earnings $643M, EPS $1.55; loan receivables up 8% to $102.3B; charge-offs rise 167bps
Synchrony Financial
2024-Q2 EPS reported
$4.70
- Net earnings $643M, EPS $1.55 diluted, vs $569M and $1.32 in Q2 2023; net revenue up 12.7%.
- Loan receivables $102.3B (+8% YoY); purchase volume down 1% to $46.8B; average active accounts up 2%.
- Net charge-offs 6.42% of avg loans, up 167bps from 4.75%; 30+ day delinquencies 4.47% vs 3.84%.
- Efficiency ratio improved to 31.7% from 35.5%; CET1 ratio 12.6% (vs 12.8% prior year).
- Returned $400M capital via $300M buybacks and $100M dividends; dividend unchanged at $0.25.