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Synchrony Financial (SYF) Q2 2022 Earnings Call Transcript – The Motley Fool


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Synchrony Financial (SYF 0.29%)Q2 2022 Earnings CallJul 18, 2022, 8:00 a.m. ET


Prepared Remarks Questions and Answers Call Participants

Prepared Remarks:


Welcome to the Synchrony Financial second quarter 2022 earnings conference call. My name is Vanessa, and I will be your operator for today’s call. [Operator instructions] I will now turn the call over to Kathryn Miller, s…….


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Synchrony Monetary (SYF 0.29%)
Q2 2022 Earnings Name
Jul 18, 2022, 8:00 a.m. ET


  • Ready Remarks
  • Questions and Options
  • Name Individuals

Ready Remarks:


Welcome to the Synchrony Monetary second quarter 2022 incomess convention call. My identify is Vanessa, And that i Shall be your opperiodtor for right now’s call. [Opperiodtor instructions] I am going to now flip The choice over to Kathryn Miller, senior Vice chairman of investor relations. You’d possibly start.

Kathryn Miller — Senior Vice Prefacetnt, Investor Relations

Thanks, and good morning, everyphysique. Welcome to our quarterly incomess convention call. Collectively with right now’s press launch, We now have currentd a currentation that cowls The extremeestics we plan To deal with all by way of our call. The press launch, elemented financial schedules, and currentation Can be found on our internet website,

This intypeation Is usually entryed by going to the investor relations part of The internet website. Earlier than we get started, I needed to rethoughts you that our paymentdagain right now will embrace forward-wanting assertions. These assertions are topic to hazards and unassembleiveties, and exact end outcomes could differ materially. We itemizing the exactityors Which might set off exact end outcomes To vary materially in our SEC filings, Which Might Even be found on our internet website.

Through The choice, We’ll Check with non-GAAP financial meaassembleives in discussing The agency’s pertypeance. Yow will discowl a reconciliation Of these meaassembleives to GAAP financial meaassembleives in our supplies for right now’s call. Lastly, Synchrony Monetary Isn’t Responsible for and Does not edit or guarantee the accuracy of our incomess teleconvention transcripts currentd by third halfies. The one accredited internand so onast are located on our internet website.

On The choice this morning are Brian Doubles, Synchrony’s prefacetnt and chief authorities officer; and Brian Wenzel, authorities Vice chairman and chief financial officer. I am going to now flip The choice over to Brian Doubles.

Brian Doubles — Prefacetnt and Chief Executive Officer

Thanks, Kathryn. And good morning, everyphysique. Synchrony proceedd to execute on our key stpricegic priorities and shiped strong financial end outcomes for the second quarter 2022, together with internet incomess of 804 million, or a $1.60 per diluted share, a reflip on common asmannequins Of three.4%, and a reflip on tangible widespread equity Of three0.3%. These end outcomes have been pushed by Synchrony’s differentiated enterprise mannequin and our deep understanding of the wants and anticipateations of our buyers and halfners.

Shopper well being furtherly stayed strong all by way of the second quarter, which assisted proceedd demand for The Broad selection of Providers that our halfners, service providers, And suppliers supply. In consequence, Synchrony added 6 million new accounts, …….