Synchrony Financial

SYF

Equity

ISIN US87165B1035 / Valor 23967617

New York Stock Exchange, Inc (2024-12-24)

USD 66.62+1.77%

Synchrony Financial
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About company

Synchrony Financial is a leading consumer financial services company that provides a wide range of credit products to consumers, retailers, and businesses. The company focuses on offering credit cards, installment loans, and other financial services to help customers make purchases and manage their finances. In addition to its core business, Synchrony Ventures invests in minority-owned startups to promote diversity and inclusion in the economy.

Summarized from source with an LLMView SourceSector: Finance

Net Earnings Growth

Synchrony Financial reported net earnings of $789 million for the third quarter of 2024, which translates to $1.94 per diluted share. This marks a significant increase from the third quarter of 2023, where net earnings were $628 million, or $1.48 per diluted share. This growth reflects the company's strong performance and strategic initiatives.

Loan Receivables and Purchase Volume

During the third quarter of 2024, Synchrony Financial's loan receivables increased by 4% to $102.2 billion. However, the purchase volume experienced a decline of 4%, totaling $45.0 billion. Despite the decrease in purchase volume, the growth in loan receivables indicates a robust lending environment.

Capital Return to Shareholders

Synchrony Financial returned $399 million of capital to its shareholders in the third quarter of 2024. This included $300 million in share repurchases, demonstrating the company's commitment to delivering value to its shareholders through strategic capital management.

Interest and Fees on Loans

Interest and fees on loans for Synchrony Financial increased by 7% to $5.5 billion in the third quarter of 2024. This growth was primarily driven by an increase in average loan receivables and changes in product, pricing, and policy, despite being partially offset by higher reversals.

Credit Quality Metrics

In the third quarter of 2024, Synchrony Financial reported that loans 30+ days past due were 4.78% of total period-end loan receivables, an increase from 4.40% in the prior year. Additionally, net charge-offs as a percentage of total average loan receivables rose to 6.06%, reflecting the company's ongoing monitoring of credit quality amidst changing economic conditions.

Summarized from source with an LLMView Source

Key figures

75.6%1Y

44.3%3Y

83.4%5Y

Performance

33.8%1Y

37.4%3Y

47.2%5Y

Volatility