Synchrony Q3 Earnings Fall 17% to $892M; Credit Improves, FY EPS Outlook ~$9.50
SYF sits 18% above its 52-week low of $63.08.
Summary
Synchrony earned $892 million ($2.68 per share) in Q3 2026, down 17% on a larger credit provision and higher expenses, but charge-offs improved to 4.79% and purchase volume rose 8%. Management reiterated ~$9.50 full-year EPS and a sub-5.5% net charge-off rate.
Key Events · Earnings and Guidance · SYF
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Q3 Earnings Down 17%
Net earnings of $892 million, or $2.68 per diluted share, versus $1.1 billion and $2.86 a year earlier.
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Credit Quality Improves
Net charge-offs fell to 4.79% from 5.16%; 30+ day delinquency 4.34% vs 4.39% and 90+ day 2.06% vs 2.12%.
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Provision and Expenses Rise
Provision for credit losses rose 10% to $1.3 billion on a $30 million reserve build versus a $152 million release last year; other expense rose 10% to $1.4 billion.
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FY2026 Outlook Reaffirmed
Guidance of roughly $9.50 EPS, a net charge-off rate below 5.5%, and mid-single-digit ending loan receivables growth.
Analysis · SYF · Finance
Earnings fell 17% year over year to $892 million ($2.68 per diluted share), driven by a 10% rise in the provision for credit losses on a $30 million reserve build versus a $152 million release a year ago, plus a 10% increase in other expense from operational losses, technology and marketing. Credit is the offsetting positive: net charge-offs declined to 4.79% from 5.16%, both 30+ and 90+ day delinquencies improved, and purchase volume grew 8% to a record third-quarter $49.7 billion. Management reaffirmed a full-year EPS outlook of about $9.50 and a net charge-off rate below 5.5%, and returned $1.2 billion of capital in the quarter with roughly $4.6 billion left on its repurchase authorization. The CET1 ratio slipped to 12.9% from 14.3% a year ago, largely reflecting buybacks—less cushion, but still comfortably above regulatory minimums.
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In the 30 days to Oct 20, 2026, 29.2% of the 1466 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.57%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, SYF was trading at $74.43 on NYSE in the Finance sector, with a market capitalization of approximately $24.2B. The 52-week trading range was $63.08 to $88.77. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.