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Mar 31, 2024
Synchrony Q1 2024 Earnings Report
Synchrony's first quarter performance highlighted the resiliency of their business model and focus on delivering sustainable results.
Key Takeaways
Synchrony Financial reported first quarter net earnings of $1.3 billion, or $3.14 per diluted share. Adjusted net earnings were $491 million, or $1.18 per diluted share, which includes a reserve build for the Ally Lending acquisition of $190 million. The company saw a 2% increase in purchase volume and a 12% increase in loan receivables.
Net earnings of $1.3 billion or $3.14 per diluted share were reported.
Adjusted net earnings of $491 million or $1.18 per diluted share were achieved, including a reserve build for the Ally Lending acquisition.
Purchase volume increased 2% to $42.4 billion.
Loan receivables increased 12% to $101.7 billion.