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Jun 30, 2023
Synchrony Q2 2023 Earnings Report
Synchrony demonstrated strong growth and financial performance, driven by consumer behavior reverting to pre-pandemic norms and the resonance of its products across diversified platforms and partners.
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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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