Synchrony Financial said net earnings for the 3 months ended March 31, 2025 decreased to $757 million from $1.3 billion in the prior-year period. The company cited the after-tax gain on the sale of Pets Best of $802 million in the prior year and higher retailer share arrangements as primary factors in the decrease.

1. 01

   Synchrony Financial said net earnings for the 3 months ended March 31, 2025 decreased to $757 million from $1.3 billion in the prior-year period. The company cited the after-tax gain on the sale of Pets Best of $802 million in the prior year and higher retailer share arrangements as primary factors in the decrease.

2. 02

   Synchrony Financial said provision for credit losses for Q1 2025 decreased by $393 million, or 20.9%. The company explained that the current period included a reserve release of $97 million compared with a reserve build of $299 million in the prior year, which included a $190 million reserve build related to the Ally Lending acquisition.

3. 03

   Synchrony Financial said loan receivables as of March 31, 2025 decreased to $99.6 billion from $104.7 billion at December 31, 2024, a decrease of $5.1 billion or 4.9%. The company said the allowance for credit losses as a percentage of period-end loan receivables increased to 10.87% from 10.44% in the same period.

4. 04

   Synchrony Financial said it repurchased $600 million of common stock during Q1 2025 and paid dividends of $0.25 per share, or $97 million in the aggregate. The company said the Board of Directors approved in April 2025 a new share repurchase program of up to $2.5 billion through June 30, 2026 and increased the quarterly dividend to $0.30 per common share.

Key figures

Quarter ended March 31, 2025

Net income

$757M

EPS

$1.89

Operating cash flow

$2.2B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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

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