Synchrony reports Q1 EPS $1.56, consensus 93c
Reports Q1 CET1 capital ratio 14.5%. Reports Q1 book value per share $21.35. Reports Q1 net charge-offs 6.06%. Results include a $522M pre-tax, $395M after-tax, or 56c per diluted share benefit from reserves released. "We are maintaining the momentum we generated over the last several quarters. Our focus on organic growth, program renewals, valuable strategic partnerships, forward-thinking technology investments, and actionable data analytics, continue to be key factors in driving solid growth and strong partnerships," said Margaret Keane, president and CEO of Synchrony Financial. "Synchrony's balance sheet remains strong as we continue to focus on creating value for shareholders through growth, portfolio acquisitions, and the execution of our capital plan."