Synchrony Financial Issues FY24 EPS Guidance

(RTTNews) - Synchrony Financial (SYF) said, for fiscal 2024, the company projects EPS in a range of $7.60 - $7.80. The company noted that continued uncertainty with regard to timing of final Late Fee Rule implementation; changes to assumptions regarding implementation timing and/or consumer behavior changes in response to PPPC, could impact its EPS expectations.

The company reported second quarter net earnings of $643 million, or $1.55 per share, compared to $569 million, or $1.32 per share in the second quarter 2023. Analysts polled by Thomson Reuters expected the company to report profit per share of $1.35, for the quarter. Analysts' estimates typically exclude special items.

Second quarter net revenue was $3.71 billion, up 13% from prior year. Analysts on average had estimated $4.29 billion in revenue.

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