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All analyzed callsNot limited to the selected quarter · analysts and firms with 2 or more questions
What does “challenging” mean?
Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
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Firm
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
A pre-earnings brief is ready for SYF: the setup, what peers and partners said this season, and which analysts to watch.Reading it is a Tellvest Pro feature.
Net interest income grew 4% to $4.6 billion with EPS of $2.27 growing 20% as record Q1 purchase volume was achieved with all five platforms growing or flat. Credit performance remained strong with the NCO guide improved to less than 5.5%, and NIM expansion continued at 76 basis points to 15.5%. FY2026 EPS guidance was reiterated at $9.10-$9.50 despite macro uncertainty while a new $6.5 billion buyback authorization signaled capital return acceleration, and the AgenTek commerce and AI positioning advanced as a strategic priority.
Key Themes7
positive📊 company
Record Q1 Purchase Volume, All Five Platforms Growing Or Flat
Record first quarter purchase volume of $43 billion, up 6% year-over-year. Diversified and Value up 9%, Digital up 8%, Lifestyle up 7%, Health and Wellness up 3%, Home and Auto flat. Co-branded cards up 20% and accounted for 51% of total purchase volume. New account originations up 15%.
DemandRevenue Growth
positive📊 company
Credit Performance Strong, NCO Guide Improved To Less Than 5.5%
Net charge-off rate was 5.42% in the first quarter, a decrease of 96 basis points from 6.38% in the prior year. Full-year NCO guide improved to less than 5.5% from prior 5.5% to 6% target. Below-min payers remained well below pre-pandemic levels across all credit cohorts. Non-prime outperforming relative to other cohorts since 2023.
Credit
positive📊 company
NIM Expansion Continues, Up 76 Basis Points To 15.5%
Net interest margin increased 76 basis points versus last year to 15.5%. Net interest income increased 4% to $4.6 billion. Loan receivables yield up 47 basis points from PPPC build. Interest-bearing liabilities cost declined 44 basis points from lower benchmark rates. Loan receivables mix shift contributed 14 basis points.
MarginPricing
positive📊 company
New $6.5 Billion Buyback Authorization Signals Capital Return Acceleration
Board approved new $6.5 billion open-ended share repurchase program replacing prior program with approximately $300 million remaining. Returned $1 billion in Q1 including $900 million in buybacks. CET1 at 12.7%. Basel III standardized approach would provide 125 to 150 basis points of capital relief if adopted as proposed.
Capital Allocation
mixed📊 company
EPS Guidance Reiterated At $9.10-$9.50 Despite Macro Uncertainty
Management reiterated net earnings per diluted share between $9.10 and $9.50 for full year 2026. Mid-single-digit ending receivables growth maintained with acceleration expected in second half. Higher payment rate of 16.3% creating drag on NII despite strong purchase volume. Consumer resilience supporting outlook amid geopolitical and inflation uncertainty.
Guidance ReliabilityRevenue Growth
negative📊 company
Elevated Payment Rate Persists, Mix Shift And Tax Refunds Contributing
Payment rate of 16.3% was approximately 50 basis points higher than last year and approximately 110 basis points above pre-pandemic first quarter average. Higher tax refunds added about 14 basis points to payment rate. Credit mix shift toward super-prime and lower promotional financing share driving structural elevation. Ending loan receivables flat despite 6% purchase volume growth.
DemandCredit
mixed📊 company
AgenTek Commerce And AI Positioning As First-Mover Strategic Priority
Doubles described agentic commerce as a first-mover advantage opportunity where Synchrony is working with top companies to ensure financing embedded in AI purchasing paths. Roughly 90% of professional workforce using AI tools across functions. Investing in cloud acceleration and AI productivity. Real economies of scale being achieved but still early.
FY2026 Q1 selectedReported GAAP figures from SEC filings
The table scrolls sideways. Swipe it, or select it and use the arrow keys.
Quarter
Revenue
Rev YoY
EPS
EPS YoY
Net margin
FY2024 Q4
$4.92B
+3.7%
$1.91
+85.4%
15.7%
FY2025 Q1
$4.80B
-1.8%
$1.89
-39.8%
15.8%
FY2025 Q2
$4.71B
-3.6%
$2.50
+61.3%
20.5%
FY2025 Q3
$4.83B
-3.1%
$2.86
+47.4%
22.3%
FY2025 Q4
$4.77B
-3.1%
$2.04
+6.8%
15.8%
FY2026 Q1Selected
$5.60B
+16.6%
$2.27
+20.1%
14.4%
FY2026 Q2
$4.69B
-0.4%
$2.59
+3.6%
18.9%
As stated by management
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
EPS
“$2.27 per diluted share”
Revenue
“Net interest income increased 4% to $4.6 billion”
Guidance
“Synchrony remains on track to deliver between $9.10 and $9.50 in diluted earnings per share”
Key metric
“our net charge-off rate was 5.42% in the first quarter”
Can you give a little bit more color on what you are seeing in account acquisitions and borrower behavior to give you confidence in that second-half acceleration?
Net interest income grew 4% to $4.6 billion with EPS of $2.27 growing 20% as record Q1 purchase volume was achieved with all five platforms growing or flat.
PositiveRecord Q1 Purchase Volume, All Five Platforms Growing Or Flat
PositiveCredit Performance Strong, NCO Guide Improved To Less Than 5.5%
PositiveNIM Expansion Continues, Up 76 Basis Points To 15.5%
Analyst challenge ratePercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. · all analyzed quarters
18%
Share price · trailing year
daily closes, last 12 months — not scoped to the selected quarter · dots mark earnings calls, colored by that quarter’s score
Sources.Tellvest earnings-call sentiment score for Synchrony Financial (SYF), FY2026 Q1: 8/10. Scores: Synchrony Financial’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: SYF daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
GAAP revenue YoY +16.6% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.
▸How this score was built
Base8Base 8GAAP revenue YoY +16.6% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue clean, no distortion. Consumer finance company not in Sector Rules Table.+EPS0EPS 0Vendor OI (oi_yoy -7.11%) is inadmissible: SYF files no us-gaap OperatingIncomeLoss concept (no-oi-subtotal.ts), so operating_income is a reconstruction. The GAAP EPS-vs-revenue spread is also inadmissible as the bank anchor: SYF is a no-OI consumer-finance LENDER, EPS/net income sit BELOW the credit provision, and this was a benign-credit quarter (provision fell $156M as net charge-offs dropped $242M, NCO rate 5.42% vs 6.38%), so EPS +20.11% overstates operating delivery; it was further inflated by ~$900M of buybacks (diluted shares 389.4M -> 346.0M, -11.1%; net earnings grew only +6.3%). Re-anchored on PPNR (pre-provision net revenue, the bank operating-profit measure), derived two independent ways that agree exactly: (a) net revenue = NII + other income - RSA = $3,698M vs $3,718M (-0.54%), less other expense $1,316M vs $1,243M (+5.9%) -> PPNR $2,382M vs $2,475M; (b) pretax $1,047M + provision $1,335M = $2,382M vs $984M + $1,491M = $2,475M. PPNR YoY = -3.76%; (ppnr_yoy - net_rev_yoy) = -3.22 percentage points, inside +/-5 percentage points -> 0. Management's own operating-leverage metric confirms modest negative operating leverage (efficiency ratio 35.6% vs 33.4%, +220bps worse, driven by higher expense and higher RSA), not enough to clear -5 percentage points. Revenue YoY +16.63% is itself a vendor basis mismatch (Q1'26 total interest income $5,603M vs a $4,804M prior-year basis, not the filed $5,550M Q1'25 total interest income; true total-interest-income YoY +1.0%) and cannot serve as the operating-leverage denominator. EPS adjustment = 0.+Guidance0Guidance 0EPS guidance reiterated at $9.10-$9.50 unchanged from Q4 introduction. NCO guide improved from 5.5-6% to less than 5.5% but NCO is not a primary growth metric (revenue or EPS). EPS midpoint unchanged.=Final8
How this score was built
Base8Base 8GAAP revenue YoY +16.6% → base 8. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.+Transcript0Transcript 0GAAP revenue clean, no distortion. Consumer finance company not in Sector Rules Table.+
88.47
63.78
3
5
8
Oct 25Oct 26
Mentions15
What SYF and other companies said about each other on FY2026 Q1 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
Companies SYF discussed
15 mentions
Ally Lendingnot trackedFY2026 Q1Acquisition
“as with Ally Lending and Allegro”
Synchrony cited its acquisitions of Ally Lending and Allegro as examples of how it may deploy excess capital.
Synchrony noted rising card-network association fees paid to Mastercard as co-brand volume grows, a modest expense signal for the network.
RHnot trackedFY2026 Q1Partner
“recently launched and similar OnePay, Bob's Discount Furniture, RH, and approximately $725 million of Lowe's commercial co-brand loan receivables, which was added in early April.”
Synchrony recently launched its RH (Restoration Hardware) program and is optimistic about driving penetration and growth in it.
“recently launched and similar OnePay, Bob's Discount Furniture, RH, and approximately $725 million of Lowe's commercial co-brand loan receivables, which was added in early April.”
Bob's Discount Furniture is a recently launched Synchrony program cited as a tailwind to loan receivables growth.
OnePaynot trackedFY2026 Q1Partner
“recently launched and similar OnePay, Bob's Discount Furniture, RH, and approximately $725 million of Lowe's commercial co-brand loan receivables, which was added in early April.”
OnePay is among Synchrony's recently launched programs expected to build into the portfolio and drive receivables growth in the back half of the year.
“recently launched and similar OnePay, Bob's Discount Furniture, RH, and approximately $725 million of Lowe's commercial co-brand loan receivables, which was added in early April.”
Synchrony added roughly $725M of Lowe's commercial co-brand loan receivables in early April, contributing to expected receivables growth.
“broadening its acceptance for eligible health and wellness purchases on walmart.com, complementing CareCredit's longstanding acceptance in-store across Walmart and Sam's Club locations nationwide.”
Synchrony broadened CareCredit acceptance to walmart.com in addition to in-store Walmart and Sam's Club, expanding its co-brand collaboration with Walmart.
Independence Pet Holdingsnot trackedFY2026 Q1Partner
“the larger opportunity we have through our strategic partnership with Independence Pet Holdings”
Synchrony framed its strategic partnership with Independence Pet Holdings as a driver of CareCredit's expanding pet-insurance reimbursement ecosystem.
Embrace Pet Insurancenot trackedFY2026 Q1Partner
“We are also delivering streamlined CareCredit experiences for pet families through our new partnerships with both FIGO and Embrace Pet Insurance.”
Synchrony added Embrace Pet Insurance as a CareCredit partner, enabling approved pet-insurance claims to be reimbursed to CareCredit accounts.
FIGOnot trackedFY2026 Q1Partner
“We are also delivering streamlined CareCredit experiences for pet families through our new partnerships with both FIGO and Embrace Pet Insurance.”
Synchrony added FIGO as a CareCredit pet-insurance partner, extending its pet-care financing and reimbursement ecosystem.
Planet DDSnot trackedFY2026 Q1Partner
“Synchrony also continued to broaden distribution of CareCredit financing during the first quarter through our expanded strategic partnerships with Planet DDS.”
Synchrony expanded CareCredit distribution via Planet DDS, embedding it across Cloud9 orthodontic and Denticon dental practice-management platforms.
EPS
0
EPS 0Vendor OI (oi_yoy -7.11%) is inadmissible: SYF files no us-gaap OperatingIncomeLoss concept (no-oi-subtotal.ts), so operating_income is a reconstruction. The GAAP EPS-vs-revenue spread is also inadmissible as the bank anchor: SYF is a no-OI consumer-finance LENDER, EPS/net income sit BELOW the credit provision, and this was a benign-credit quarter (provision fell $156M as net charge-offs dropped $242M, NCO rate 5.42% vs 6.38%), so EPS +20.11% overstates operating delivery; it was further inflated by ~$900M of buybacks (diluted shares 389.4M -> 346.0M, -11.1%; net earnings grew only +6.3%). Re-anchored on PPNR (pre-provision net revenue, the bank operating-profit measure), derived two independent ways that agree exactly: (a) net revenue = NII + other income - RSA = $3,698M vs $3,718M (-0.54%), less other expense $1,316M vs $1,243M (+5.9%) -> PPNR $2,382M vs $2,475M; (b) pretax $1,047M + provision $1,335M = $2,382M vs $984M + $1,491M = $2,475M. PPNR YoY = -3.76%; (ppnr_yoy - net_rev_yoy) = -3.22 percentage points, inside +/-5 percentage points -> 0. Management's own operating-leverage metric confirms modest negative operating leverage (efficiency ratio 35.6% vs 33.4%, +220bps worse, driven by higher expense and higher RSA), not enough to clear -5 percentage points. Revenue YoY +16.63% is itself a vendor basis mismatch (Q1'26 total interest income $5,603M vs a $4,804M prior-year basis, not the filed $5,550M Q1'25 total interest income; true total-interest-income YoY +1.0%) and cannot serve as the operating-leverage denominator. EPS adjustment = 0.
+
Guidance0Guidance 0EPS guidance reiterated at $9.10-$9.50 unchanged from Q4 introduction. NCO guide improved from 5.5-6% to less than 5.5% but NCO is not a primary growth metric (revenue or EPS). EPS midpoint unchanged.
=
Final8
Corporate events
Filed after the FY2026 Q1 call day (Apr 21, 2026) through the next call day (Jul 21, 2026)From SEC 8-K filings
Net interest income grew 4% to $4.6 billion with EPS of $2.27 growing 20% as record Q1 purchase volume was achieved with all five platforms growing or flat
Affirm posted GAAP revenue up 32.64% year over year in a quarter Max called another one for the record books, with GAAP EPS of $0.30 and operating income swinging to $202.2M from an $8.4M loss a year earlier, evidencing powerful operating leverage (left GAAP EPS YoY undefined given the near-zero prior-year base)