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Synchrony Financial (SYF) investor relations material
Synchrony Financial Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary15 Oct, 2025
Executive summary
Net earnings rose 37% year-over-year to $1.1 billion ($2.86 per diluted share), driven by strong purchase volume growth, robust credit performance, and lower credit loss provisions.
Purchase volume reached $46 billion, up 2% year-over-year, with digital platform spend up 5% and diversified/value and health/wellness segments each up 3%.
Strategic initiatives included new and expanded partnerships (e.g., Amazon, Walmart, Lowe's, The Toro Company, Dental Intelligence, Sun Country Airlines) and acquisitions of Versatile Credit and the Lowe’s commercial co-branded credit card portfolio.
Board approved an incremental $1.0 billion share repurchase, with $2.1 billion remaining authorized through June 2026.
Early results from the Walmart program launch and Pay Later at Amazon were highly encouraging, with strong new account growth and engagement.
Financial highlights
Net interest income increased 2% to $4.7 billion, driven by lower funding costs and higher loan receivables yield.
Net revenue was $3.8 billion, flat year-over-year, as higher net interest income was offset by higher retailer share arrangements.
Net interest margin improved to 15.62%, up 58 basis points year-over-year.
Provision for credit losses decreased by $451 million to $1.1 billion, reflecting lower net charge-offs and a reserve release.
Efficiency ratio increased to 32.6%, up 140 basis points year-over-year due to higher expenses and RSAs.
Outlook and guidance
2025 outlook assumes flat ending receivables, continued elevated payment rates, and minor modifications to product pricing and policy changes.
Net revenue for FY 2025 expected to be $15.0–$15.1 billion, with net interest margin anticipated to average 15.7% in the second half of 2025.
Loss rate expected between 5.6% and 5.7%, at the lower end of the long-term target.
Efficiency ratio projected at 33.0–33.5%, with other expenses expected to rise approximately 3% year-over-year.
Management expects continued focus on stable funding, capital strength, and disciplined credit risk management amid uncertain economic conditions.
NCO outlook given current credit trends?
How do recent acquisitions drive loan growth?
Financial impact of vacated CFPB late fee rule?
Quantify growth from new initiatives vs. credit unwind.
Credit performance: internal actions vs. macro?
What drives lower NII despite better credit?
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Next Synchrony Financial earnings date
Q4 202527 Jan, 2026
Next Synchrony Financial earnings date
Q4 202527 Jan, 2026
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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.
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