Synchrony Financial
Q3 2022 Earnings Call
Oct 25, 2022, 8:00 a.m. ET
Contents:
- Prepared Remarks
- Questions and Answers
- Call Participants
Prepared Remarks:
Operator
Welcome to the Synchrony Financial third quarter 2022 earnings conference call. My name is Vanessa and I will be your operator for today's call. [Operator instructions] Please note that this conference is being recorded. I will now turn the call over to your host.
Kathryn Miller, senior vice president of investor relations. You may begin.
Kathryn Miller -- Senior Vice President, Investor Relations
Thank you, and good morning, everyone. Welcome to our quarterly earnings conference call. In addition to today's press release, we have provided a presentation that covers the topics we plan to address during our call. The press release, detailed financial schedules, and presentation are available on our website, synchronyfinancial.com.
This information can be accessed by going to the investor relations section of the website. Before we get started, I wanted to remind you that our comments today will include forward-looking statements. These statements are subject to risks and uncertainty, and actual results could differ materially. We list the factors that might cause actual results to differ materially in our SEC filings, which are available on our website.
During the call, we will refer to non-GAAP financial measures in discussing the company's performance. You can find a reconciliation of these measures to GAAP financial measures in our materials for today's call. Finally, Synchrony Financial is not responsible for and does not edit or guarantee the accuracy of our earnings teleconference transcripts provided by third parties. The only authorized webcasts are located on our website.
On the call this morning are Brian Doubles, Synchrony's president and chief executive officer, and Brian Wenzel, executive vice president and chief financial officer. I will now turn the call over to Brian Doubles.
Brian Doubles -- President and Chief Executive Officer
Thanks, Kathryn, and good morning, everyone. Synchrony delivered another strong quarter of financial results, highlighted by net earnings of $703 million or $1.47 per diluted share, a return on average assets of 2.8% and a return on tangible common equity of 26.6%. Synchrony's ability to deliver consistent growth and resilient returns is a testament to our well-diversified portfolio, our balanced approach to product, consumer and credit strategies and the strength of our differentiated business model. As we continue to leverage our advanced digital capabilities, expand our reach through new partners and distribution channels and further diversify our product suite, Synchrony further solidifies itself as the partner of choice for retailers, merchants, and providers alike.