Synchrony Financial (SYF) Misses Q3 EPS by 18c

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Go back to Synchrony Financial (SYF) Misses Q3 EPS by 18c

Synchrony Reports Third Quarter Net Earnings of $313 Million or $0.52 Per Diluted Share

October 20, 2020 6:30 AM EDT

STAMFORD, Conn., Oct. 20, 2020 /PRNewswire/ -- Synchrony Financial (NYSE: SYF) today announced third quarter 2020 earnings results amid the continuing Coronavirus (COVID-19) pandemic. Synchrony reported third quarter 2020 net earnings of $313 million, or $0.52 per diluted share; this included a restructuring charge of $89 million, or $67 million after tax, which equates to an EPS reduction of $0.11, and an increase in the provision for credit losses as a result of CECL implementation earlier this year of $66 million, or $50 million after tax, which equates to an EPS reduction of $0.09.

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