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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Synchrony Financial
Synchrony Financial (SYF) investor relations material
Synchrony Financial Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary20 Oct, 2026
Executive summary
Q3 net earnings were $892M, or $2.68 diluted EPS, versus $1.077B and $2.86 a year earlier; higher net interest income was outweighed by increased credit provisions, retailer shares and operating expenses.
Purchase volume rose 8.0% to $49.7B and period-end loan receivables increased 3.2% to $103.3B; average active accounts were 68.3M.
Net charge-offs and delinquencies improved YoY, with credit performance described as consistent with typical seasonality.
Financial highlights
Net interest income increased 1.9% to $4.809B; interest expense fell 3.2% to $979M, partly offsetting a 7.0% rise in retailer share arrangements to $1.096B.
Provision for credit losses rose 10.5% to $1.266B, including a $30M reserve build versus a $152M release a year earlier; $62M lower net charge-offs partly offset the increase.
Other expense increased 9.9% to $1.371B, primarily on operational losses, technology investment and marketing; other income fell 17.3% to $105M, mainly due to higher loyalty costs.
Net earnings available to common stockholders fell 18% to $864M; diluted EPS was $2.68 versus $2.86 in Q3 2025.
9M net earnings were $2.582B and diluted EPS was $7.52, versus $2.801B and $7.22 in 2025.
Outlook and guidance
FY26 diluted EPS outlook is ~$9.50; ending loan receivables growth is expected in the mid-single digits, with net charge-offs below 5.5%.
FY26 assumptions include stable macro conditions, no significant inflation change, and no additional product, pricing, policy or broad-based credit refinements.
Net interest income is expected to grow as product, pricing and policy changes lift interest and fees and funding costs decline, partly offset by lower late-fee incidence and new-account acceleration.
Strong purchase-volume growth is expected to continue; payment rates are expected to remain elevated, with credit performance relatively stable and following normal seasonality.
Q4 NIM is expected to increase sequentially; 2027 double-digit EPS growth framework cited NII growth, portfolio seasoning and capital returns, but no 2027 guidance was issued.
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Latest events from Synchrony Financial
- Record FY2023 purchase volume; rising credit costs cut Q4 earnings to $440M.SYF
Q4 2023 - Stable credit trends, resilient growth, and tech investments drive positive long-term outlook.SYFBarclays 24th Annual Global Financial Services Conference
- Earnings fell 8% as purchase volume reached a record and $950M was returned to shareholders.SYFQ2 2026
- Stable outlook with focus on Health, Home, and late fee mitigation amid regulatory uncertainty.SYFTD Financial Services & Fintech Summit
- Poised for accelerated growth in 2026, led by digital innovation and strong partner renewals.SYFGoldman Sachs U.S. Financial Services Conference
- All director nominees, auditor, and executive compensation proposals were approved.SYFAGM 2026
- Strong loan growth, resilient spending, and digital innovation drive future growth.SYFMorgan Stanley US Financials Conference 2026
- Earnings up 26% to $789M, with resilient loan growth and higher credit losses.SYFQ3 2024
- Earnings up 13% to $643M, with loan growth, higher credit losses, and improved efficiency.SYFQ2 2024
Next Synchrony Financial earnings date
Q4 202626 Jan, 2027
Synchrony Financial
Next Synchrony Financial earnings date
Q4 202626 Jan, 2027
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Frequently asked questions
Consumer Financial Services
Synchrony Financial is an American consumer financial services company, primarily focusing on the U.S. market. Synchrony provides a range of credit products through its partnerships with retailers, manufacturers, healthcare providers, and other businesses. These products mainly include private-label credit cards, dual cards, and general-purpose co-branded credit cards. Additionally, Synchrony offers promotional financing, installment lending, loyalty services, and more. The company is headquartered in Stamford, Connecticut, and its shares are traded on the NYSE.
Spin-Off
Synchrony Financial originates from GE Capital Retail Finance, which was founded in 1932 when General Electric began offering consumer financing. Over the decades, GE Capital expanded its services, evolving into a key player in consumer credit. In 2014, GE restructured, leading to the spin-off of its North American retail finance business as Synchrony Financial. This move was part of GE's strategy to reduce reliance on its financial arm and focus on its industrial core. Since then Synchrony Financial has become an established player in private-label credit cards, store-branded cards, and consumer financial services, offering similar services and products as companies such as American Express and Capital One.
What They Do
Synchrony Financial's core business is centered around consumer financial services, with a strong emphasis on offering credit products. It is a leading issuer of private label credit cards in the United States, catering to a wide array of retail sectors including home furnishings, electronics, and healthcare. These credit products include store-branded cards, dual cards, and general-purpose co-branded credit cards, which are developed in partnership with major retailers and service providers. In addition to credit card services, Synchrony Financial specializes in promotional financing and installment lending. The company also owns and operates a banking subsidiary.
The Banking Arm
Synchrony Bank, the aforementioned banking subsidiary of the parent company, specializes in offering online savings products. It provides high-yield savings accounts, which generally have higher interest rates than traditional ones. The bank also offers certificates of deposit (CDs) with various terms for fixed interest rate savings, and money market accounts that blend features of savings and checking accounts.