Synchrony Financial (SYF) Company Report

Consumer resilience with mid-2023 credit actions driving improved net charge-offs and stabilized delinquencies across credit tiers
30% of prior credit tightening eased in Q4 2025, with remaining unwind in three phases through 2027 to support sales growth
Walmart card relaunched via OnePay app with enhanced API integration and richer rewards (5% off for Plus members; 3% off for non-Plus) aiming for top-10 program scale
Positive NIM outlook from lower funding costs, ongoing variable APR resets (75% by June 2026), and lagging deposit betas suggesting carryover into 2026
CET1 at 13.1% and a new $1 billion share buyback, prioritizing organic RWA growth (Walmart, Lowe’s commercial) and selective bolt-on acquisitions over large M&A

Nov 12, 2025, 3:10 PM

Transcript

Synchrony CFO outlines credit strategy and growth drivers at KBW Fintech Payments Conference 2025

SYF

Guidance Update

Consumer credit metrics remain resilient, with 30-day-plus delinquencies and net charge-offs improving year-over-year and reserve rates showing a downward bias as macro conditions stabilize.
30% of prior credit tightening has been unwound in phase one; phases two and three will complete the unwind into mid-2026, supporting a return to sales growth.
Growth catalysts include the relaunched Walmart co-branded card with enhanced digital integration, the Lowe’s commercial portfolio entering in 2026, and expansion in health & wellness and digital partnerships.
Net interest margin is supported by a positive 4% yield on earning assets versus 3.8% funding cost, with balanced headwinds and tailwinds from rate moves and deposit strategies.

Nov 12, 2025, 3:10 PM

Transcript

Synchrony announces Q3 2025 results

SYF

Earnings

Guidance Update

Share Buyback

Purchase volume of $46 billion (+2% YoY) and net earnings of $1.1 billion ($2.86/share), with net interest margin up to 15.62%
Delinquency rates improved (30+ days at 4.39%, 90+ days at 2.12%) and net charge-off rate fell to 5.16%
Ending loan receivables down 2% to $100 billion, CET1 ratio at 13.7%, and returned $971 million to shareholders, including $861 million in buybacks and a $1 billion incremental authorization
2025 guidance: flat ending receivables, loss rate 5.6–5.7%, net revenue $15.0–15.1 billion, NIM ~15.7%, efficiency ratio 33–33.5%

Oct 15, 2025, 12:00 PM

Transcript

Synchrony Financial reports Q3 2025 results

SYF

Earnings

Guidance Update

Share Buyback

Net revenue was flat at $3.823 bn, net interest income rose 2% to $4.720 bn, net interest margin expanded to 15.62%, and EPS jumped to $2.86 (+47%) in Q3’25.
Provision for credit losses declined 28% to $1.146 bn, while net charge-offs improved to 5.16% of average loans, down from 6.06% a year ago.
Purchase volume grew 2% to $46.0 bn, loan receivables totaled $100.2 bn, and average active accounts were 68.3 mm.
Common Equity Tier 1 ratio increased to 13.7%, and the Board approved an incremental $1.0 bn share repurchase, leaving $2.1 bn remaining through 2Q ’26.
For FY 2025, management narrowed net revenue guidance to $15.0–15.1 bn, expects net charge-offs of 5.6–5.7%, and an efficiency ratio of 33.0–33.5%.

Oct 15, 2025, 12:00 PM

Presentation

Synchrony Financial reports Q3 2025 results

SYF

Earnings

Share Buyback

Net earnings of $1.1 billion, or $2.86 per diluted share, up from $789 million, or $1.94 per share in Q3 2024.
Purchase volume rose 2% to $46.0 billion, while loan receivables decreased 2% to $100.2 billion.
The Board approved an incremental $1.0 billion share repurchase authorization, bringing total remaining capacity to $2.1 billion through June 30, 2026.
Key metrics included a 3.6% return on assets, 13.7% CET1 ratio, and $971 million of capital returned to shareholders.

Oct 15, 2025, 10:00 AM

8-K

Synchrony Financial reports Q3 2025 results, increases share buyback authority

SYF

Earnings

Share Buyback

Synchrony Financial announced its third quarter 2025 results for the period ended September 30, 2025.
Brian Doubles (CEO) and Brian Wenzel Sr. (CFO) will host a conference call at 8:00 a.m. ET to discuss the results and outlook.
The Board approved a $1 billion increase to share repurchase authorization, bringing total capacity to $2.1 billion through June 30, 2026.

Oct 15, 2025, 10:00 AM

Press Release

Synchrony Financial faces calls to disclose director independence issues

SYF

Legal Proceedings

Board Change

The OPEIU and CWA filed complaints with the SEC, NYSE and New York Attorney General alleging Synchrony Financial failed to disclose a material relationship that compromised the independence of Audit Committee chair Paget Alves.
Alves joined Project Black’s advisory committee in February 2021, and in February 2023 Synchrony made a $100 million co-investment in the fund while she chaired the Audit Committee.
Synchrony did not disclose these relationships in its 10-Ks or proxy statements, raising concerns under NYSE director independence rules.
The unions also point to governance risks amid Synchrony’s $3.7 billion healthcare lending business via CareCredit and potential service quality issues at Sorenson Communications.

Oct 14, 2025, 7:08 PM

Press Release

Synchrony Financial acquires Versatile Credit

SYF

M&A

Synchrony Financial has acquired Versatile Credit, a provider of consumer-financing software, to enhance its consumer financing technology and accelerate its technology roadmap.
The deal leverages Versatile’s multi-source financing platform, offering detailed reporting and back-end merchant system integration to boost merchant sales and expand consumer credit availability.
Synchrony will retain Versatile’s business model and management and expects the acquisition to have minimal impact on earnings per share.
The acquisition aligns with Synchrony’s focus on innovation across its retail card, payment solutions, and CareCredit segments.

Oct 2, 2025, 2:44 AM

Morningstar

Synchrony completes acquisition of Versatile Credit

SYF

M&A

Synchrony acquires Versatile Credit from PSG; terms undisclosed.
Versatile Credit offers a consumer-financing software platform connecting merchants, lenders, and consumers through online, in-store, and mobile POS solutions.
Since PSG’s 2023 investment, Versatile Credit expanded its blue-chip customer base in elective medical, home improvement, and retail sectors and strengthened its leadership team.

Oct 1, 2025, 9:00 PM

Press Release

Synchrony Financial sees BNPL displacing credit card usage

SYF

BNPL spending in the U.S. totals nearly $100 billion, though outstanding BNPL debt remains a small fraction of this volume.
BNPL is replacing credit cards primarily for consumers with mid-prime credit scores and limited open-to-buy on their cards.
TD Cowen rates Synchrony Financial and Capital One as top picks on the card side, and holds a buy on Affirm among BNPL providers.
The firm is neutral on American Express, citing sideways spending trends and increased competition in the high-end consumer segment.

Aug 13, 2025, 11:39 AM

CNBC Television

Earnings Transcripts

Quarterly earnings call transcripts for Synchrony Financial.

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