Synchrony Financial Prepares to Report Q3 Earnings as Analysts Expect Flat Revenue
Synchrony Financial (NYSE:SYF) will publish its third-quarter financial results on Tuesday before the market opens. Wall Street analysts expect revenue to remain flat year over year, matching the performance recorded in the same period last year. Over the past 30 days, consensus revenue projections have held steady as analysts anticipate the consumer finance company will remain on its current trajectory. Shares recently traded at 73.68 USD, down 0.49% for the session.
In the previous quarter, Synchrony Financial reported 3.72 billion USD in revenue, representing a 1.9% increase year over year but falling short of Wall Street forecasts. Despite the revenue miss, the company delivered a strong overall quarter by beating analyst predictions for both earnings per share and efficiency ratio. Synchrony Financial has missed Wall Street revenue estimates multiple times over the past two years.
As the first major consumer finance firm to present results this quarter, Synchrony Financial will offer an early indication of health across the sector. Industry peers have faced downward pressure, with competitor stock prices declining an average of 3.2% over the past month, while Synchrony Financial shares dropped 1.4% in the same timeframe.
Key points
- Synchrony Financial (NYSE:SYF) reports third-quarter earnings on Tuesday before the market opens.
- Wall Street expects revenue to be flat year-on-year, in line with analyst estimates reconfirmed over the past 30 days.
- The company missed revenue targets last quarter despite reporting $3.72 billion in revenue and beating earnings per share expectations.
- Synchrony Financial shares are down 1.4% over the past month, while consumer finance peers fell 3.2% on average.
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When does Synchrony Financial report Q3 earnings?
Synchrony Financial will report its third-quarter financial results on Tuesday before the market opens.
What are analysts expecting for Synchrony Financial's revenue?
Wall Street expects revenue to be flat year over year, matching performance from the same period last year.
How did Synchrony Financial perform in the previous quarter?
In the previous quarter, Synchrony Financial missed revenue forecasts with $3.72 billion in revenue, but beat expectations for earnings per share and efficiency ratio.