AI English summary of an SEC filing — figures as filed
Synchrony Financial SYFThe company said net earnings for Q3 2024 rose to $789 million, or $1.94 per diluted share, from $628 million, or $1.48 per share, in Q3 2023.
Key points
AI summaryThe company said net earnings for Q3 2024 rose to $789 million, or $1.94 per diluted share, from $628 million, or $1.48 per share, in Q3 2023.
Synchrony said purchase volume for Q3 2024 fell 4% from a year earlier to $45.0 billion, while loan receivables rose 4% to $102.2 billion. New accounts decreased 18% to 4.7 million.
The company said its net charge-off rate as a percentage of average loan receivables was 6.06% for Q3 2024, up from 4.60% a year earlier and 146 basis points higher. Loans 30+ days past due as a percentage of period-end loan receivables were 4.78%, compared with 4.40% a year earlier.
Synchrony returned $399 million to shareholders in Q3 2024, including $300 million of share repurchases and $99 million of common stock dividends. As of September 30, 2024, the company had $700 million of remaining share repurchase authorization.
Summary
AI-writtenAnalysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.
Q3 2024 Net Earnings of $789 million
The company said net earnings for Q3 2024 rose to $789 million, or $1.94 per diluted share, from $628 million, or $1.48 per share, in Q3 2023.
Source · Based on the filing body and exhibits
Purchase Volume Down 4%, Loan Receivables Up 4%
Synchrony said purchase volume for Q3 2024 fell 4% from a year earlier to $45.0 billion, while loan receivables rose 4% to $102.2 billion. New accounts decreased 18% to 4.7 million.
Source · Based on the filing body and exhibits
Net Charge-Off Rate 6.06%, 30+ Days Past Due 4.78%
The company said its net charge-off rate as a percentage of average loan receivables was 6.06% for Q3 2024, up from 4.60% a year earlier and 146 basis points higher. Loans 30+ days past due as a percentage of period-end loan receivables were 4.78%, compared with 4.40% a year earlier.
Source · Based on the filing body and exhibits
Capital Returned $399 million
Synchrony returned $399 million to shareholders in Q3 2024, including $300 million of share repurchases and $99 million of common stock dividends. As of September 30, 2024, the company had $700 million of remaining share repurchase authorization.
Source · Based on the filing body and exhibits
AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.
Original filing
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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