SYF
Synchrony Financial83.39
+0.18+0.22%
Dec 16, 4:00:03 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Growth details, APR opposition highlighted.
Q&A detailed mid-single-digit 2026 receivables growth from Walmart's record-fast launch—fastest de novo program ever—Lowe's commercial transfer, and health/wellness investments, with early-year purchase volume already accelerating beyond Q4's 3% YoY. Management fiercely opposed 10% APR caps, arguing they'd cut credit for low-income consumers and devastate SMB partners. Pay later drives incremental accounts sans cannibalization across partners like Lowe's and Amazon. Credit outlook steady at 5.5-6% NCOs despite Walmart's early losses; no further aperture widening assumed. Expenses grow with receivables amid AI, cloud, and reserve builds. Walmart's off to a blistering start. Confident tone; watch Q1 purchase volume, actives for momentum.
Key Stats
Market Cap
31.03BP/E (TTM)
9.14Basic EPS (TTM)
9.12Dividend Yield
0.01%Recent Filings
8-K
Delinquencies rise to 4.7%
8-K
Synchrony prices $750M notes
Synchrony Financial entered an underwriting agreement on February 18, 2026, to issue $750,000,000 of 4.947% Fixed-to-Floating Rate Senior Notes due 2032 via BofA Securities, J.P. Morgan, and Mizuho. Notes follow the 2014 Base Indenture, supplemented through February 25, 2026. Public offering taps shelf registration. No use of proceeds disclosed.
8-K
Charge-offs ease to 4.7%
Synchrony Financial released monthly charge-off and delinquency stats through January 31, 2026, showing period-end loan receivables at $101.7B and 30+ delinquency rate ticking up to 4.6%. Net charge-off rate improved to 4.7% from 5.5% in December, with adjusted rate at 4.7%. Delinquencies climb steadily. They'll keep reporting monthly.
10-K
FY2025 results
Synchrony Financial posted FY2025 net earnings of $3.6B, up 1.5% y/y, fueled by a $1.5B drop in provision for credit losses to $5.2B as net charge-offs eased 66bps to 5.65% amid improved asset quality—30+ day delinquencies fell 21bps to 4.49%. Loan receivables dipped 0.9% to $103.8B on higher payment rates and flat $182.3B purchase volume, yet interest and fees on loans edged up 0.5% on pricing tweaks despite softer late fees. Deposits held steady at 84% of funding with $81.1B total, while the firm repurchased $2.9B in shares and paid $1.15/share common dividends. Q4 seasonality lifted receivables and delinquencies, but credit stabilized. Partner concentration remains a risk.
8-K
Q4 earnings dip on restructuring
Synchrony Financial posted Q4 2025 net earnings of $751 million, down 3% from last year due to a $51 million after-tax restructuring charge from its voluntary early retirement program—yet purchase volume rose 3% to $49.5 billion while loan receivables dipped 1% to $103.8 billion. Net charge-offs improved sharply to 5.37% from 6.45%, NIM expanded 82 basis points to 15.83%, but efficiency ratio widened to 36.9%. Credit strengthened. Returned $1.1 billion to shareholders.
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