NYSE: SYF
Synchrony FinancialCIK 0001601712 · SIC 6199 · Finance Services
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Synchrony Financial prices $1.1B debt offering: $600M 5.450% 2030 notes, $500M 6.276% 2037 notes
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Synchrony Financial offers two series of fixed-to-floating senior notes; terms not yet disclosed
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SYF Q2 FY26: Net earnings flat at $885.0M; buyback, preferred issued, dividend up 13%
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Synchrony Financial reports improved credit metrics: charge-offs fall to 5.3%, delinquencies stable at 4.2%
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Synchrony Financial reports Q2 2026 EPS of $2.59, up 4% YoY; returns $950M to shareholders
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Synchrony names Carol Juel CEO of Digital platform, promotes Florin Arghirescu to CTO
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Synchrony Financial discloses 13 months of charge-off and delinquency data through May 2026
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Synchrony Financial raises capital with $500M preferred stock offering, restricts common dividends
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Synchrony Financial offers 500,000 depositary shares of 7.250% perpetual preferred stock at $1,000 each, raising $500 million
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Synchrony Financial offers depositary shares in perpetual preferred stock at undisclosed rate
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Synchrony Financial discloses routine monthly charge-off and delinquency statistics
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net income $805.0M. Synchrony Q1 earnings up 6%, unveils up to buyback with no expiration and 13% dividend hike
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Synchrony Financial reports Q1 2026 earnings results
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Synchrony Financial files routine monthly credit performance statistics through March 2026
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Latest financial statements
From 10-Q filed Jul 23, 2026 (period ending Jun 30, 2026). As printed on the EDGAR/iXBRL face — not generated by the model.
Condensed Consolidated Statements of Earnings (Unaudited)
($ in millions, except per share data)
| Description | Three months ended June 30, 2026 | Three months ended June 30, 2025 | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|---|---|
| Interest income: | ||||
| Interest and fees on loans (Note 4) | 5,380 | 5,328 | 10,793 | 10,640 |
| Interest on cash and debt securities | 203 | 258 | 393 | 496 |
| Total interest income | 5,583 | 5,586 | 11,186 | 11,136 |
| Interest expense: | ||||
| Interest on deposits | 767 | 855 | 1,537 | 1,737 |
| Interest on borrowings of consolidated securitization entities | 111 | 104 | 217 | 208 |
| Interest on senior and subordinated unsecured notes | 97 | 106 | 189 | 206 |
| Total interest expense | 975 | 1,065 | 1,943 | 2,151 |
| Net interest income | 4,608 | 4,521 | 9,243 | 8,985 |
| Retailer share arrangements | (1,027) | (992) | (2,097) | (1,887) |
| Provision for credit losses (Note 4) | 1,201 | 1,146 | 2,536 | 2,637 |
| Net interest income, after retailer share arrangements and provision for credit losses | 2,380 | 2,383 | 4,610 | 4,461 |
| Other income: | ||||
| Interchange revenue | 300 | 268 | 564 | 506 |
| Protection product revenue | 161 | 144 | 322 | 291 |
| Loyalty programs | (436) | (360) | (797) | (671) |
| Other | 112 | 66 | 181 | 141 |
| Total other income | 137 | 118 | 270 | 267 |
| Other expense: | ||||
| Employee costs | 516 | 509 | 1,031 | 1,015 |
| Professional fees | 220 | 236 | 429 | 453 |
| Marketing and business development | 137 | 127 | 251 | 243 |
| Information processing | 248 | 215 | 510 | 434 |
| Other | 210 | 158 | 426 | 343 |
| Total other expense | 1,331 | 1,245 | 2,647 | 2,488 |
| Earnings before provision for income taxes | 1,186 | 1,256 | 2,233 | 2,240 |
| Provision for income taxes (Note 13) | 301 | 289 | 543 | 516 |
| Net earnings | 885 | 967 | 1,690 | 1,724 |
| Net earnings available to common stockholders | 864 | 946 | 1,648 | 1,682 |
| Earnings per share (Note 11) | ||||
| Basic | 2.61 | 2.51 | 4.89 | 4.42 |
| Diluted | 2.59 | 2.50 | 4.85 | 4.38 |
balance sheet
| Description | 2026 | 2025 |
|---|---|---|
| Three months ended June 30 ($ in millions) | ||
| Assets | ||
| Interest-earning assets: | ||
| Interest-earning cash and equivalents(2) | 18,067 | 167 |
| Securities available for sale | 3,775 | 36 |
| Loan receivables, including held for sale(3): | ||
| Credit cards | 92,690 | 5,092 |
| Consumer installment loans | 5,288 | 187 |
| Commercial credit products | 2,646 | 100 |
| Other | 78 | 1 |
| Total loan receivables, including held for sale | 100,702 | 5,380 |
| Total interest-earning assets | 122,544 | 5,583 |
| Non-interest-earning assets: | ||
| Cash and due from banks | 945 | 868 |
| Allowance for credit losses | (10,428) | (10,797) |
| Other assets | 8,209 | 7,661 |
| Total non-interest-earning assets | (1,274) | (2,268) |
| Total assets | 121,270 | 120,441 |
| Liabilities | ||
| Interest-bearing liabilities: | ||
| Interest-bearing deposit accounts | 82,279 | 767 |
| Borrowings of consolidated securitization entities | 8,915 | 111 |
| Senior and subordinated unsecured notes | 7,514 | 97 |
| Total interest-bearing liabilities | 98,708 | 975 |
| Non-interest-bearing liabilities: | ||
| Non-interest-bearing deposit accounts | 419 | 412 |
| Other liabilities | 5,540 | 5,065 |
| Total non-interest-bearing liabilities | 5,959 | 5,477 |
| Total liabilities | 104,667 | 103,686 |
| Equity | ||
| Total equity | 16,603 | 16,755 |
| Total liabilities and equity | 121,270 | 120,441 |
| Interest rate spread(4) | 14.31 | 13.91 |
| Net interest income | 4,608 | 4,521 |
| Net interest margin(5) | 15.08 | 14.78 |
Condensed Consolidated Statements of Cash Flows (Unaudited)
($ in millions)
| Description | Six months ended June 30, 2026 | Six months ended June 30, 2025 |
|---|---|---|
| Cash flows - operating activities | ||
| Net earnings | 1,690 | 1,724 |
| Adjustments to reconcile net earnings to cash provided from operating activities | ||
| Provision for credit losses | 2,536 | 2,637 |
| Deferred income taxes | 34 | 31 |
| Depreciation and amortization | 288 | 247 |
| All other operating activities | 378 | 280 |
| Changes in operating assets and liabilities, net of effects of acquisitions and dispositions | ||
| (Increase) decrease in interest and fees receivable | (238) | (65) |
| (Increase) decrease in other assets | 37 | (9) |
| Increase (decrease) in accrued expenses and other liabilities | (122) | (85) |
| Cash provided from (used for) operating activities | 4,603 | 4,760 |
| Cash flows - investing activities | ||
| Maturity and sales of debt securities | 855 | 1,205 |
| Purchases of debt securities | (2,885) | (1,006) |
| Acquisition of loan receivables | (809) | — |
| Net (increase) decrease in loan receivables, including held for sale | (436) | 1,607 |
| All other investing activities | (388) | (444) |
| Cash provided from (used for) investing activities | (3,663) | 1,362 |
| Cash flows - financing activities | ||
| Borrowings of consolidated securitization entities | ||
| Proceeds from issuance of securitized debt | 498 | 1,495 |
| Maturities and repayment of securitized debt | — | (1,000) |
| Senior and subordinated unsecured notes | ||
| Proceeds from issuance of senior and subordinated unsecured notes | 745 | 794 |
| Maturities and repayment of senior and subordinated unsecured notes | — | (750) |
| Dividends paid on preferred stock | (42) | (42) |
| Proceeds from issuance of preferred stock | 494 | — |
| Net increase (decrease) in deposits | 1,659 | 195 |
| Purchases of treasury stock | (1,778) | (1,109) |
| Dividends paid on common stock | (204) | (211) |
| All other financing activities | (89) | (70) |
| Cash provided from (used for) financing activities | 1,283 | (698) |
| Increase (decrease) in cash and equivalents, including restricted amounts | 2,223 | 5,424 |
| Cash and equivalents, including restricted amounts, at beginning of period | 15,017 | 14,755 |
| Cash and equivalents at end of period: | ||
| Cash and equivalents | 16,193 | 19,457 |
| Restricted cash and equivalents included in other assets | 1,047 | 722 |
| Total cash and equivalents, including restricted amounts, at end of period | 17,240 | 20,179 |
Amounts as printed on the EDGAR/iXBRL face — ($ in millions, except per share data); ($ in millions). Labels, columns, and figures are the filing face, not a GAAP stencil. Interactive statements & notes on EDGAR ↗