Synchrony Financial (SYF) Q3 2026 Earnings
How Did SYF Stock React to Q3 2026 Earnings?
Did SYF Beat Earnings? Q3 2026 Results
Yes. Synchrony Financial reported Q3 2026 earnings of $2.68 a share on Oct 20, 2026, beating the $2.40 consensus estimate by 11.4%. Revenue was $4.8B against a $3.8B estimate.
Synchrony Financial delivered a convincing beat to open its fiscal third quarter of 2026, posting GAAP earnings of $2.68 per diluted share against a consensus estimate of $2.40, an 11.44% beat that extended the company's streak of topping Wall Street EPS expectations to five consecutive quarters. Revenue of $4.81 billion cleared the $3.81 billion consensus by 26.36%, though it edged down 0.5% from a year ago. The primary engine behind the quarter was net interest income, which grew 2% to $4.81 billion as higher average loan receivables and lower funding costs more than offset a 12 basis point compression in net interest margin to 15.50%. Co-branded card momentum was particularly notable, with co-branded purchase volume climbing 23% to $26.40 billion and co-branded loan receivables expanding 22% to $37.50 billion. Credit quality also improved, with net charge-offs declining 37 basis points year-over-year to 4.79%. Management guided to roughly $9.50 in full-year EPS, mid-single digit loan receivables growth, and a net charge-off rate below 5.5%, signaling confidence that recent product, pricing, and partnership investments, including deeper integration of CareCredit into healthcare platforms, will sustain momentum through year-end.
- Purchase volume increased 8% to $49.7 billion with broad-based growth across all five sales platforms
- Co-branded card purchase volume surged 23% to $26.4 billion and co-branded loan receivables grew 22% to $37.5 billion
- Highest spend growth from Gen Z and Millennial customers
- Net charge-off rate improved 37 basis points YoY to 4.79%
- Lower benchmark interest rates reduced funding costs, with interest expense declining 3%
- Payment rate of 16.9% up approximately 60bps year-over-year
- Both discretionary and non-discretionary out-of-partner spend increased by double-digits
“Synchrony delivered another strong performance in the third quarter, highlighted by broad-based purchase volume growth across all five of our sales platforms. Spend reached a record third quarter level and increased across credit cohorts and generations, with the highest growth once again coming from our Generation Z and Millennial customers. In addition, both discretionary and non-discretionary out-of-partner spend increased by double-digits, led by momentum in electronics, entertainment, gas stations and discount stores.”
Synchrony Financial CEO, on the earnings call
What Is Synchrony Financial's Outlook?
For full-year 2026, Synchrony guided to approximately $9.50 in earnings per diluted share, mid-single digit ending loan receivables growth, and a net charge-off rate below 5.5%. Management expects strong purchase volume growth to continue, with payment rates remaining elevated. Net interest income is expected to grow, reflecting the building impact of product, pricing, and policy changes on interest and fees and lower funding costs, partially offset by lower late fee incidence and new account acceleration. RSA as a percentage of average loan receivables is expected to stay within the 4.0%–4.5% target range. Other expense dollars in Q4 2026 are expected to be generally in line with Q3 2026. Baseline assumptions include no additional broad-based credit refinements, no regulatory or legislative changes, a stable macroeconomic environment, no significant change in inflation rates, and no additional modifications to PPPCs.
SYF YoY Financials
| Metric | Q3 2026 | Q3 2025 | Year over year |
|---|---|---|---|
| Revenue | $4.8B | $4.8B | −0.5% |
| Net Income | $892.0M | $1.1B | −17.2% |
| Operating Income | $1.2B | $1.4B | −17.4% |
SYF Revenue by Segment
When Does Synchrony Financial Report Next?
Figures from SEC filings and company reports. Not investment advice.