Synchrony Financial (NYSE:SYF) Q3 2024 Earnings Conference Call October 16, 2024 8:00 AM ET

Company Participants

Kathryn Miller - SVP of IR
Brian Doubles - President and CEO
Brian Wenzel - EVP and CFO

Conference Call Participants

Ryan Nash - Goldman Sachs
Terry Ma - Barclays
Don Fandetti - Wells Fargo
Moshe Orenbuch - TD Cowen
Sanjay Sakhrani - KBW
Mihir Bhatia - Bank of America
Mark DeVries - Deutsche Bank
John Hecht - Jefferies
Jeff Adelson - Morgan Stanley
Rick Shane - JPMorgan

Operator

Good morning and welcome to the Synchrony Financial Third Quarter 2024 Earnings Conference Call. Please refer to the Company's Investor Relations website for access to their earnings materials. Please be advised that today's conference call is being recorded.

Currently all callers have been placed in a listen-only mode and the call will be open for your questions following the conclusion of the management's prepared remarks. [Operator Instructions]

I will now turn the call over to Kathryn Miller, Senior Vice President of Investor Relations. Thank you. You may begin.

Kathryn Miller

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.

Brian Doubles

Thanks, Kathryn, and good morning, everyone. Today Synchrony reported strong third quarter results, including net earnings of $789 million, or $1.94 per diluted share, a return on average assets of 2.6%, and a return on tangible common equity of 24.3%. These results reflect Synchrony's commitment to driving value for our customers, partners, providers, small businesses, and our shareholders, as the operating environment continues to evolve.