Synchrony Q2 2023 Earnings Report
Key Takeaways
Synchrony Financial reported second quarter 2023 net earnings of $569 million, or $1.32 per diluted share. Purchase volume remained largely unchanged at $47.3 billion, while loan receivables increased by 15% to $94.8 billion. The company returned $399 million of capital to shareholders, including $300 million in share repurchases.
Net earnings were $569 million, or $1.32 per diluted share.
Purchase volume remained largely unchanged at $47.3 billion, with a 6% increase on a Core basis.
Loan receivables increased 15% to $94.8 billion.
Returned $399 million of capital to shareholders, including $300 million in share repurchases.
Synchrony
Synchrony
Forward Guidance
Synchrony is focused on actively managing assets and prudently managing capital to optimize long-term value creation and resiliency, given uncertainties in the macro environment and the financial services industry.
Positive Outlook
- Continuing commitment to robust capital returns.
- Incremental $1 billion share repurchase authorization through June of 2024.
- 9% increase in common stock dividend.
- Long history of capital generation and management.
- Resilient business model.
Challenges Ahead
- Uncertainties in the macro environment.
- Uncertainties in the financial services industry.
- Focus on actively managing the assets that we originate.
- Prudently managing the capital we generate.
- Optimize Synchrony’s long-term value creation and resiliency.