Form 10-Q · Quarterly report
Synchrony Financial 10-Q, filed Jul 23, 2026
- Filed
- CIK
- 0001601712
- Accession no.
- 0001601712-26-000033
Summary
Synchrony Financial reported net earnings of $885 million for the three months ended June 30, 2026, down from $967 million a year earlier, as higher net interest income was offset by a larger provision for credit losses, increased retailer share arrangements, and higher other expense. Loan receivables grew 2.4% to $102.2 billion, the net charge-off rate improved to 5.43%, and the board approved increasing the quarterly common dividend to $0.34 per share beginning in the third quarter of 2026.
Key points
- Net earnings fell to $885 million for the three months ended June 30, 2026, from $967 million a year earlier, and were roughly flat at $1.7 billion for the six months.
- Loan receivables rose 2.4% to $102.2 billion, aided by the acquisition of the Lowe's commercial co-branded credit card portfolio, while the net charge-off rate improved 27 basis points to 5.43%.
- Synchrony repurchased $1.8 billion of common stock and paid $0.60 per share in dividends during the first half, and its board approved raising the quarterly dividend to $0.34 per share starting in the third quarter of 2026.
- The company issued $500 million of 7.250% fixed rate reset non-cumulative perpetual preferred stock, Series C, in June 2026.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
ITEM 2. MANAGEMENT’S DISCUSSION Results of Operations ____________________________________________________________________________________________ Summary Highlights for the Three and Six Months Ended June 30, 2026 Earnings Three months ended June 30, Six months ended June 30, ($ in millions) 2026 2025 2026 2025 Interest income $ 5,583 $ 5,586 $ 11,186 $ 11,136 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 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 137 118 270 267…
An excerpt of the text as filed with the SEC, cut for length.
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