Synchrony Financial demonstrated strong new account growth, strategic partnerships, and impressive digital wallet expansion. However, growth in loan receivables was moderate due to consumer behavior and previous credit actions, and there was an increase in net charge-offs. The company's financial performance remains strong, but challenges in credit management persist.

Company Guidance

During Synchrony Financial's fourth quarter and full-year 2024 earnings call, the company highlighted several key performance metrics and strategic initiatives. Synchrony added 5 million new accounts and achieved $48 billion in purchase volume for the fourth quarter, with ending loan receivables growing by 2%. The company reported fourth-quarter net earnings of $774 million, or $1.91 per diluted share, with a return on average assets of 2.6% and a return on tangible common equity of 23%. For the full year, Synchrony acquired nearly 20 million new accounts and financed over $182 billion in purchase volume. Full-year net earnings were $3.5 billion, or $8.55 per diluted share, with a return on average assets of 2.9% and a return on tangible common equity of 27.5%. The company emphasized its strategic efforts in expanding partnerships, including renewals with Sam's Club and JCPenney, and highlighted the introduction of new products like Synchrony Pay Later. Additionally, Synchrony focused on enhancing its digital capabilities, reporting an 85% growth in unique active digital wallet users and over 600 million impressions from marketplace campaigns. As part of its forward-looking guidance, Synchrony anticipates low-single-digit growth in ending loan receivables for 2025, with net revenue projected between $15.2 and $15.7 billion, and a full-year net charge-off rate between 5.8% and 6.1%.

Strong New Account Growth

Synchrony added 5 million new accounts in Q4 2024, contributing to a total of nearly 20 million new accounts for the year.

Robust Purchase Volume

The company generated $48 billion in purchase volume in Q4 2024, contributing to over $182 billion for the full year, marking the second highest level in company history.

Strategic Partnerships and Renewals

Synchrony added over 45 new partners in 2024, including Virgin, Gibson, and BRP, and renewed top partnerships like Sam's Club and JCPenney.

Digital Wallet Growth

Unique active wallet users grew 85% in 2024, doubling digital wallet sales and improving wallet penetration rate by over 200 basis points.

Strong Financial Performance

Full-year 2024 net earnings of $3.5 billion or $8.55 per diluted share, with a return on average assets of 2.9% and a return on tangible common equity of 27.5%.

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Synchrony Financial (SYF) Earnings, Revenues Date & History

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SYF Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 29, 2025	2025 (Q1)	1.61 / -	1.18	―	―	―
Jan 28, 2025	2024 (Q4)	1.93 / 1.91	1.03	85.44% (+0.88)
Oct 16, 2024	2024 (Q3)	1.81 / 1.94	1.48	31.08% (+0.46)
Jul 17, 2024	2024 (Q2)	1.35 / 1.55	1.32	17.42% (+0.23)
Apr 24, 2024	2024 (Q1)	1.34 / 1.18	1.35	-12.59% (-0.17)
Jan 23, 2024	2023 (Q4)	0.93 / 1.03	1.26	-18.25% (-0.23)
Oct 24, 2023	2023 (Q3)	1.44 / 1.48	1.47	0.68% (+0.01)
Jul 18, 2023	2023 (Q2)	1.25 / 1.32	1.6	-17.50% (-0.28)
Apr 19, 2023	2023 (Q1)	1.43 / 1.35	1.77	-23.73% (-0.42)
Jan 23, 2023	2022 (Q4)	1.11 / 1.26	1.48	-14.86% (-0.22)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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SYF Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jan 28, 2025	$69.61	$66.42	-4.58%
Oct 16, 2024	$52.86	$56.06	+6.05%
Jul 17, 2024	$51.00	$51.51	+1.00%
Apr 24, 2024	$42.04	$44.16	+5.04%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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