Analyst Consensus ?
ConsensusBuy41 ratings
Bullish2561.0%
Neutral1536.6%
Bearish12.4%
Synchrony Financial · SYF · FY2026 Q2 · Calendar Q3 2026
Synchrony Financial Q2 2026: Record $50B Purchase Volume, EPS Beat, Guidance Floor Raised
Synchrony Financial delivered a strong Q2 2026 with all-time-high purchase volume of nearly $50 billion (up 8% YoY) and diluted EPS of $2.59, beating the $2.14 consensus by 21%. Revenue of $3.72 billion was essentially in line. Management narrowed 2026 EPS guidance to $9.25 to $9.50 by raising the floor $0.15, signaling confidence in margin recovery despite elevated payment rates. The quarter featured broad-based partner growth, the acquisition of the MyLowe's Pro Rewards Amex Card portfolio, and $950 million in capital returns. Despite the beat, the stock fell 2.5% on the report day before drifting 6.9% higher over the following sessions, suggesting the market initially questioned the sustainability of payment-rate trends before warming to the guidance raise and partner momentum.
Reported Before market openNYSEFinancial Services
$24.39B market cap
100quality score
Company context
Snapshot as of publicationSynchrony Financial, along with its various subsidiaries, functions as a leading provider of consumer financial services across the United States. The company offers a comprehensive range of credit products, encompassing diverse credit card options such as private label, co-branded, and general-purpose cards, alongside commercial credit solutions and consumer installment loans for both short and long durations. Additionally, Synchrony provides consumer banking services, including a variety of deposit products like certificates of deposit, individual retirement accounts, money market accounts, and savings accounts. These are made available to both individual consumers and commercial entities, with deposits also accepted via external securities brokerage firms. Beyond core credit and banking, Synchrony extends debt cancellation programs to its credit card clientele through online, mobile, and direct mail channels.…
Earnings scorecard
Reported versus consensus
Reported EPS
$2.59
Consensus $2
EPS surprise
+21.0%
Reported versus consensus
Reported revenue
$3.72B
Consensus $3.72B
Revenue surprise
-0.2%
Reported versus consensus
Earnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$77.17Current
$40Low
$72.13Average
$104High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Jul 30, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Wells Fargo | Overweight | Overweight | Maintain | Jul 22, 2026 |
| RBC Capital | Sector Perform | Sector Perform | Maintain | Jul 22, 2026 |
| Baird | Outperform | Outperform | Maintain | Jul 22, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Jul 13, 2026 |
| HSBC | Buy | Buy | Maintain | Jul 13, 2026 |
| UBS | Neutral | Neutral | Maintain | Jul 7, 2026 |
| TD Cowen | Buy | Buy | Maintain | Jul 7, 2026 |
| Truist Securities | Hold | Hold | Maintain | Apr 23, 2026 |
| BTIG | Neutral | Buy | Downgrade | Apr 22, 2026 |
| Barclays | Overweight | Overweight | Maintain | Apr 22, 2026 |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 6, 2026 |
| Keefe, Bruyette & Woods | Outperform | Outperform | Maintain | Jan 2, 2026 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Sep 29, 2025 |
| JMP Securities | Market Outperform | Market Outperform | Maintain | Sep 25, 2025 |
| B of A Securities | Buy | Buy | Maintain | Sep 11, 2025 |
| Goldman Sachs | Buy | Buy | Maintain | Jul 2, 2025 |
| Compass Point | Neutral | Buy | Downgrade | Jan 28, 2025 |
| Jefferies | Buy | Buy | Maintain | Oct 17, 2024 |
| Deutsche Bank | Buy | Buy | Maintain | Oct 17, 2024 |
| BMO Capital | Market Perform | Market Perform | Maintain | Jul 18, 2024 |
| Wolfe Research | Outperform | Underperform | Upgrade | Apr 4, 2024 |
| Oppenheimer | Perform | Perform | Maintain | Mar 6, 2024 |
| Stephens & Co. | Equal Weight | Equal Weight | Maintain | Jan 24, 2024 |
| Piper Sandler | Overweight | Overweight | Maintain | Jan 24, 2024 |
| Citigroup | Buy | Buy | Maintain | Jan 16, 2024 |
| Credit Suisse | Outperform | Outperform | Maintain | May 18, 2023 |
| Seaport Global | Buy | Buy | Maintain | Aug 30, 2021 |
| Nomura | Neutral | Neutral | Maintain | Apr 14, 2020 |
| CFRA | Strong Sell | Sell | Maintain | Apr 3, 2020 |
| Bank of America | Buy | Neutral | Upgrade | Jan 30, 2019 |
| Buckingham | Buy | Buy | Maintain | Mar 14, 2018 |
| Guggenheim | Neutral | Buy | Downgrade | May 3, 2017 |
| Wedbush | Neutral | Outperform | Downgrade | Dec 7, 2016 |
| Macquarie | Neutral | Neutral | Maintain | May 11, 2016 |
| DA Davidson | Buy | Buy | Maintain | Jan 13, 2016 |
| Sterne Agee CRT | Buy | Neutral | Upgrade | Nov 23, 2015 |
| Sterne Agee | Buy | Neutral | Upgrade | Nov 23, 2015 |
| Buckingham Research | Buy | Buy | Maintain | Aug 26, 2015 |
| Keefe Bruyette & Woods | Market Perform | Market Perform | Maintain | Jul 20, 2015 |
| Bernstein | Outperform | Outperform | Maintain | May 6, 2015 |
| BTIG Research | Buy | Neutral | Upgrade | Apr 20, 2015 |
Named analyst price targets
Upside is calculated against the persisted current price $77.17. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Deutsche Bank | Analyst unavailable | $104 | $71.88 | +34.8% | Jul 22, 2026 |
| RBC Capital | Jon Arfstrom | $80 | $72.21 | +3.7% | Jul 22, 2026 |
| Robert W. Baird | Analyst unavailable | $90 | $72.21 | +16.6% | Jul 22, 2026 |
| Wells Fargo | Analyst unavailable | $88 | $72.21 | +14.0% | Jul 22, 2026 |
| HSBC | Analyst unavailable | $97 | $72.44 | +25.7% | Jul 13, 2026 |
| Loop Capital Markets | Analyst unavailable | $81 | $72 | +5.0% | May 21, 2026 |
| Truist Financial | Brian Foran | $82 | $78.69 | +6.3% | Apr 23, 2026 |
| Morgan Stanley | Analyst unavailable | $84 | $77.63 | +8.9% | Apr 21, 2026 |
| Robert W. Baird | David George | $83 | $71.11 | +7.6% | Feb 13, 2026 |
| UBS | Analyst unavailable | $82 | $74.82 | +6.3% | Feb 4, 2026 |
| Truist Financial | Analyst unavailable | $84 | $73.17 | +8.9% | Jan 29, 2026 |
| RBC Capital | Jon Arfstrom | $85 | $74.49 | +10.1% | Jan 28, 2026 |
| Compass Point | Dominick Gabriele | $96 | $73 | +24.4% | Jan 28, 2026 |
| Barclays | Analyst unavailable | $93 | $73 | +20.5% | Jan 28, 2026 |
| BTIG | Vincent Caintic | $96 | $73 | +24.4% | Jan 27, 2026 |
| RBC Capital | Jon Arfstrom | $91 | $79.53 | +17.9% | Jan 12, 2026 |
| UBS | Analyst unavailable | $86 | $86.89 | +11.4% | Jan 12, 2026 |
| Evercore ISI | Analyst unavailable | $97 | $87.47 | +25.7% | Jan 6, 2026 |
| Goldman Sachs | Analyst unavailable | $98 | $87.16 | +27.0% | Jan 6, 2026 |
| Barclays | Analyst unavailable | $101 | $86.74 | +30.9% | Jan 6, 2026 |
| Wells Fargo | Donald Fandetti | $100 | $86.94 | +29.6% | Jan 5, 2026 |
| Truist Financial | Analyst unavailable | $92 | $85.6 | +19.2% | Dec 22, 2025 |
| Wells Fargo | Donald Fandetti | $95 | $83.39 | +23.1% | Dec 17, 2025 |
| Morgan Stanley | Analyst unavailable | $86 | $83.88 | +11.4% | Dec 16, 2025 |
| Robert W. Baird | Analyst unavailable | $82 | $80.4 | +6.3% | Dec 5, 2025 |
| Truist Financial | Analyst unavailable | $78 | $71.83 | +1.1% | Oct 17, 2025 |
| Wells Fargo | Analyst unavailable | $85 | $72.32 | +10.1% | Oct 16, 2025 |
| HSBC | Analyst unavailable | $81 | $70.99 | +5.0% | Oct 10, 2025 |
| UBS | Erika Najarian | $79 | $70.48 | +2.4% | Oct 7, 2025 |
| Barclays | Analyst unavailable | $83 | $71.23 | +7.6% | Oct 6, 2025 |
| Evercore ISI | Analyst unavailable | $84 | $73.32 | +8.9% | Sep 30, 2025 |
| Morgan Stanley | Analyst unavailable | $82 | $74.54 | +6.3% | Sep 29, 2025 |
| Barclays | Terry Ma | $80 | $70.66 | +3.7% | Jul 23, 2025 |
| Seaport Global | Analyst unavailable | $76 | $64.74 | -1.5% | Jun 24, 2025 |
| Truist Financial | Brian Foran | $68 | $59.84 | -11.9% | Jun 13, 2025 |
| Morgan Stanley | Jeff Adelson | $40 | $56.52 | -48.2% | Oct 17, 2024 |
| RBC Capital | Jon Arfstrom | $62 | $56.52 | -19.7% | Oct 17, 2024 |
| Robert W. Baird | Brennan Crowley | $62 | $56.52 | -19.7% | Oct 17, 2024 |
| Wells Fargo | Donald Fandetti | $60 | $56.52 | -22.2% | Oct 17, 2024 |
| Deutsche Bank | Mark DeVries | $68 | $56.52 | -11.9% | Oct 17, 2024 |
| Bank of America Securities | Mihir Bhatia | $61 | $55.47 | -21.0% | Oct 16, 2024 |
| Bank of America Securities | Mihir Bhatia | $54 | $45.76 | -30.0% | Aug 9, 2024 |
| Wells Fargo | Donald Fandetti | $53 | $52.22 | -31.3% | Jul 18, 2024 |
| Barclays | Terry Ma | $49 | $52.22 | -36.5% | Jul 18, 2024 |
| Compass Point | David Rochester | $56 | $50.72 | -27.4% | Jul 16, 2024 |
| JMP Securities | David Scharf | $60 | $50.72 | -22.2% | Jul 16, 2024 |
| Robert W. Baird | Brennan Crowley | $56 | $44.23 | -27.4% | Jun 27, 2024 |
| Goldman Sachs | Ryan Nash | $51 | $44 | -33.9% | Jun 10, 2024 |
| Capital One Financial | James Fotheringham | $41 | $44.34 | -46.9% | Apr 25, 2024 |
| BMO Capital | James Fotheringham | $41 | $45.02 | -46.9% | Apr 25, 2024 |
| RBC Capital | Jon Arfstrom | $47 | $45.02 | -39.1% | Apr 25, 2024 |
| Wolfe Research | Bill Carcache | $50 | $41.21 | -35.2% | Apr 4, 2024 |
| Goldman Sachs | Analyst unavailable | $45 | $40.7 | -41.7% | Apr 19, 2022 |
| BMO Capital | Analyst unavailable | $52 | $40.8 | -32.6% | Apr 19, 2022 |
| Wolfe Research | Bill Carcache | $38 | $35.65 | -50.8% | Apr 7, 2022 |
| Piper Sandler | Kevin Barker | $49 | $35.77 | -36.5% | Apr 6, 2022 |
| JMP Securities | David Scharf | $50 | $42.38 | -35.2% | Jan 31, 2022 |
| Stephens | Vincent Caintic | $54 | $42.38 | -30.0% | Jan 31, 2022 |
| Seaport Global | Bill Ryan | $54 | $42.38 | -30.0% | Jan 31, 2022 |
| RBC Capital | Jon Arfstrom | $60 | $41.21 | -22.2% | Jan 28, 2022 |
| Barclays | Mark Devries | $64 | $48.06 | -17.1% | Jan 10, 2022 |
| Jefferies | John Hecht | $60 | $46.68 | -22.2% | Jan 5, 2022 |
| Citigroup | Arren Cyganovich | $59 | $46.22 | -23.5% | Oct 29, 2021 |
| UBS | Eric Wasserstrom | $49 | $46.83 | -36.5% | Jul 14, 2021 |
Track every rating change on SYF the moment it posts. Free to start.
Start freeMarket reaction
prior-close to event-session close
Stock move
-1.6%
Event window
SPY move
+0.8%
Same window
Abnormal move
-2.5%
Stock minus SPY
Volume
2.2×
Versus trailing sessions
Subsequent drift
+6.9%
Up to 20 sessions
SYFSPY benchmark
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Try FN2 freeTranscript intelligence
What changed
Purchase volume accelerated from $43B in Q1 to a record ~$50B in Q2, with YoY growth improving from 6% to 8%. Net earnings rose from $805M to $885M. EPS of $2.59 topped the $2.14 estimate by 21%. Management raised the bottom of 2026 EPS guidance from $9.10 to $9.25 while holding the top at $9.50. New partner agreements were signed with Suzuki, AmeriVet, and Roto-Rooter, and existing programs with Dick's Sporting Goods and Walmart OnePay were refreshed. The company acquired the MyLowe's Pro Rewards American Express Card portfolio. CET1 stood at 13.2%, boosted approximately 80 bps by an accounting reclassification of internal-use software costs. AI adoption deepened, with 90% of exempt employees actively using AI tools.
Guidance delta
Prior 2026 EPS guidance was $9.10 to $9.50. The floor was raised to $9.25, narrowing the range to $9.25 to $9.50. Guidance sentiment remains maintained, reflecting confidence in continued margin recovery and partner growth, partially offset by elevated payment rates and late-fee regulatory headwinds.
Key takeaways
- Purchase volume reached a record $50B, up 8% YoY, driven by broad-based partner expansion across all five sales platforms and digital platform growth.
- Net earnings of $885M ($2.59 diluted EPS) beat the $2.14 consensus by 21%, with strong returns on assets (2.9%) and equity (25.2%).
- 2026 EPS guidance narrowed to $9.25 to $9.50 with the floor raised $0.15, reflecting confidence in margin recovery despite elevated payment rates.
- New and renewed partnerships (Suzuki, AmeriVet, Roto-Rooter) and product refreshes (Dick's Sporting Goods, Walmart OnePay, Chico's) expanded the partner network.
- Capital position remained robust with CET1 at 13.2% and $950M returned to shareholders via buybacks and dividends.
- The company acquired the MyLowe's Pro Rewards American Express Card portfolio, adding a meaningful commercial credit program.
Management priorities
- Expand partnership network with new and renewed agreements across diversified platforms.
- Launch and scale new co-branded and private-label card programs including MyLowe's Pro Rewards.
- Continue AI integration across operations with dedicated cost-management frameworks and a FinOps team.
- Maintain share repurchase program and return capital to shareholders.
- Invest in technology platforms such as Nova programs to drive operating leverage while keeping headcount flat.
Related earnings events
Financial ServicesHIG · FY2026 Q2 · Calendar Q3 2026The Hartford Beats on Q2 Core Earnings, Divests Hartford Funds, Expands Buyback to $4.2BAXP · FY2026 Q2 · Calendar Q3 2026AXP Q2 2026: Platinum Card Drives 10% Revenue Growth, Full-Year Guidance RaisedHBAN · FY2026 Q2 · Calendar Q3 2026Huntington Bancshares Q2 2026: Strong Organic Growth, EPS Miss on Deposit Cost Pressure
Sources
- Earnings call transcript and parsed analysis · 2026-07-21T16:03:14.136128+00:00
- FN2 earnings calendar · 2026-07-30T01:23:13.872335+00:00
- Polygon adjusted daily market bars · 2026-07-30T20:21:55.234033+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-07-30T20:21:55.231907+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated . For educational purposes only; not investment advice.