NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Roger Ballou Receives New Restricted Stock Unit Grant
Roger H. Ballou, a Director at Bread Financial Holdings, Inc., has been granted 2,802 restricted stock units, which are set to vest on June 16, 2026.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director John Fawcett Receives New Equity Grant
Bread Financial Holdings, Inc. Director John J. Fawcett was granted 2,802 restricted stock units, increasing his total beneficial ownership to 9,275 shares.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director John C. Gerspach Reports Acquisition of Restricted Stock Units
John C. Gerspach, a Director at Bread Financial Holdings, Inc., reported the acquisition of 2,802 restricted stock units, vesting in June 2026, as part of a routine compensation grant.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Praniti Lakhwara Receives New Restricted Stock Unit Grant
Bread Financial Holdings, Inc. Director Praniti Lakhwara was granted 2,802 restricted stock units, increasing her total beneficial ownership to 5,622 shares.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Rajesh Natarajan Acquires Additional Restricted Stock Units
Rajesh Natarajan, a Director at Bread Financial Holdings, Inc. (BFH), has reported the acquisition of 2,802 restricted stock units, increasing his total beneficial ownership to 19,804 shares.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Joyce St Clair Granted 2,802 Restricted Stock Units
Joyce St Clair, a Director at Bread Financial Holdings, Inc., was granted 2,802 restricted stock units, which are set to vest on June 16, 2026, increasing her total beneficial ownership to 9,669 shares.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Timothy Theriault Receives New RSU Grant
Timothy J. Theriault, a Director at Bread Financial Holdings, Inc., was granted 2,802 restricted stock units set to vest on June 16, 2026, as part of his compensation.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Laurie Anne Tucker Boosts Stake with New RSU Grant
Bread Financial Holdings, Inc. Director Laurie Anne Tucker has acquired 2,802 restricted stock units, increasing her beneficial ownership to 33,821 shares, with the new grant vesting on June 16, 2026.
NYSE
19 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Director Sharen Turney Receives New Restricted Stock Unit Grant
Bread Financial Holdings, Inc. Director Sharen J. Turney was granted 2,802 restricted stock units, which are set to vest on June 16, 2026, increasing her total beneficial ownership to 21,536 shares.
NYSE
26 days, 23 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Improved Credit Quality Metrics for May 2025 Amidst Slight Loan Portfolio Contraction
Bread Financial Holdings, Inc. announced a performance update for May 2025, showing a year-over-year improvement in net loss and delinquency rates, despite a slight decrease in overall loan balances.
Delay expected
 
Better than expected
 
NYSE
32 days, 22 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Announces Early Tender Results for $150 Million Senior Notes Offer, Oversubscribed by Over 3.5x
Bread Financial Holdings, Inc. announced the early tender results of its cash tender offer for its 9.750% Senior Notes due 2029, with approximately $536.8 million tendered against a $150 million cap.
Better than expected
 
NYSE
47 days, 22 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Announces $150 Million Cash Tender Offer for Senior Notes Due 2029
Bread Financial Holdings, Inc. has announced a cash tender offer to repurchase up to $150 million of its 9.750% Senior Notes due in 2029.
NYSE
54 days, 14 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Holdings Announces Results of 2025 Annual Stockholders Meeting
Bread Financial Holdings held its 2025 annual meeting of stockholders, electing directors, approving executive compensation, and ratifying the selection of Deloitte & Touche LLP as its independent accounting firm.
NYSE
55 days, 23 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Improved Credit Performance in April 2025
Bread Financial Holdings, Inc. announced a performance update for April 2025, highlighting improvements in net loss and delinquency rates compared to the previous year.
Better than expected
 
NYSE
70 days, 8 hours ago 
BFH
Bread Financial Holdings, INC
10-Q: Bread Financial Reports Q1 2025 Results: Credit Sales Up, Strategic Capital Moves Highlight Quarter
Bread Financial's Q1 2025 results show a slight increase in credit sales and strategic moves to strengthen its balance sheet.
Worse than expected
 
NYSE
74 days, 23 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Performance Update for March 2025
Bread Financial Holdings, Inc. released a performance update for March 2025, detailing net loss and delinquency rates.
Worse than expected
 
NYSE
74 days, 23 hours ago 
BFH
Bread Financial Holdings, INC
8-K: Bread Financial Reports Solid Q1 2025 Results, Announces Quarterly Dividend
Bread Financial announced first quarter 2025 results with net income of $138 million and declared a quarterly cash dividend of $0.21 per share.
NYSE
81 days, 12 hours ago 
BFH
Bread Financial Holdings, INC
Form 4: Bread Financial Holdings Director, John C. Gerspach, Receives Stock Grant
Director John C. Gerspach acquired 842 shares of Bread Financial Holdings, Inc. through a restricted stock unit grant that will vest on April 15, 2026.
NYSE
96 days, 18 hours ago 
BFH
Bread Financial Holdings, INC
DEFA14A: Bread Financial Holdings Sets Date for Annual Stockholders Meeting
Bread Financial Holdings will hold its annual meeting of stockholders on May 13, 2025, to elect directors, conduct an advisory vote on executive compensation, and ratify the selection of Deloitte & Touche LLP as the independent accounting firm.
NYSE
96 days, 22 hours ago 
BFH
Bread Financial Holdings, INC
DEF: Bread Financial Reports Solid 2024 Performance Amidst Macroeconomic Challenges, Focuses on Long-Term Growth
Bread Financial demonstrated resilience in 2024, delivering solid performance and making strategic investments to enhance profitability and shareholder value despite a challenging macroeconomic environment.
BFH 
Bread Financial Holdings, INC 
NYSE

10-Q: Bread Financial Reports Q1 2025 Results: Credit Sales Up, Strategic Capital Moves Highlight Quarter

Sentiment:
 Quarterly Report
 28 April 2025 9:49 PM

Bread Financial's Q1 2025 results show a slight increase in credit sales and strategic moves to strengthen its balance sheet.

Worse than expected
  Average and end-of-period credit card and other loans decreased, indicating a contraction in lending activity.  Total interest income decreased due to lower late fees and average loan balances, suggesting weaker revenue generation from core lending operations.  The 2025 outlook has been adjusted to reflect slower credit sales growth and slightly higher inflation, signaling a less optimistic future performance. 

Summary
  • Bread Financial's Q1 2025 credit sales increased by 1% year-over-year to $6.1 billion.
  • Average and end-of-period credit card and other loans decreased by 2% to $18.2 billion and $17.8 billion, respectively.
  • Total interest income decreased by 5% due to lower late fees and average loan balances.
  • Non-interest income increased by $25 million due to pricing actions and reduced retailer share arrangements.
  • The company reported a $69 million reserve release for credit losses, offset by $365 million in net principal losses.
  • Total non-interest expenses decreased by 1% to $477 million.
  • Direct-to-consumer deposits increased by 13% to $7.9 billion.
  • The company completed a $400 million subordinated notes offering and a $150 million share repurchase program.
  • The CFPB's credit card late fee rule was vacated, benefiting the industry.
  • The 2025 outlook has been adjusted to reflect slower credit sales growth and slightly higher inflation.
  • Average credit card and other loans are expected to be flat to slightly lower in 2025.
  • Total net interest and non-interest income is anticipated to be flat to slightly higher.
  • The company expects a full-year net principal loss rate ranging from 8.0% to 8.2%.
  • The company expects its full year normalized effective tax rate to be in the range of 25% to 26%.
Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. While there are some positive developments like the increase in direct-to-consumer deposits and the completion of the share repurchase program, there are also concerns about slower credit sales growth and potential economic volatility. The vacating of the CFPB's late fee rule is a positive, but the overall outlook is cautious.

Positives
  • Credit sales saw a slight increase.
  • Non-interest income increased due to pricing actions.
  • Direct-to-consumer deposits increased significantly.
  • The company strengthened its balance sheet with a subordinated notes offering.
  • The share repurchase program optimizes capital ratios.
  • The CFPB's late fee rule being vacated is a positive development for the industry.
Negatives
  • Average and end-of-period credit card and other loans decreased.
  • Total interest income decreased due to lower late fees.
  • The 2025 outlook has been adjusted to reflect slower credit sales growth and slightly higher inflation.
Risks
  • Macroeconomic conditions and potential economic volatility could impact consumer spending.
  • The risk of disruption to the economy continues to grow.
  • Interest rate decreases by the Federal Reserve Board will slightly decrease Total net interest income.
  • The company faces risks associated with tariffs, trade policies and inflation.
  • The company's 2025 financial outlook assumes a full year Net principal loss rate ranging from 8.0% to 8.2%.
Future Outlook

The company expects flat to slightly lower average credit card and other loans in 2025, with total net interest and non-interest income anticipated to be flat to slightly higher. The company also expects a full-year net principal loss rate ranging from 8.0% to 8.2%.

Management Comments
  • The company is focused on responsible growth, disciplined capital allocation, and continued execution on operational excellence efforts.
  • The company is well-positioned to generate additional capital, deliver strong returns, and create sustainable, long-term value for its shareholders.
Industry Context

The vacating of the CFPB's late fee rule is a positive development for the credit card industry, reducing regulatory burdens. However, the company acknowledges risks associated with tariffs, trade policies, and inflation, which may impact consumer strength.

Comparison to Industry Standards
  • The document does not contain specific comparisons to industry standards or benchmarks.
  • Without more information, it's difficult to assess Bread Financial's performance relative to competitors like Capital One, American Express, or Discover.
  • A deeper dive into metrics like net interest margin, efficiency ratio, and credit quality compared to peers would provide a more comprehensive view.
Stakeholder Impact
  • Shareholders may be impacted by the share repurchase program and dividend payments.
  • Employees may be impacted by the company's operational excellence efforts.
  • Customers may be impacted by changes in credit card terms and conditions.
  • Creditors may be impacted by the company's debt management activities.
Next Steps
  • The company will continue to monitor the litigation related to the LVI spinoff.
  • The company will continue to execute on its operational excellence efforts.
  • The company will continue to monitor economic conditions and adapt to changing fiscal and monetary policies.
Legal Proceedings
  • The company is involved in various legal proceedings, including those related to the LVI spinoff and a securities class action.
  • The company is also subject to a consent order issued by the FDIC to Comenity Servicing LLC.
Key Dates
  • 2019: Sale of former Epsilon segment.
  • 2020-09-22: Issuance of 7.000% Senior Notes due January 15, 2026.
  • 2021: Spinoff of former LoyaltyOne segment.
  • 2023-06: Issuance of 4.25% Convertible Senior Notes due 2028.
  • 2023-10-18: LoyaltyOne, Co. filed suit against Bread Financial and its general counsel.
  • 2023-11: FDIC issued a consent order to Comenity Servicing LLC.
  • 2023-12-22: Initial issuance of 9.750% Senior Notes due 2029.
  • 2024-01: Issuance of additional 9.750% Senior Notes due 2029.
  • 2024-01: Redemption of $400 million in aggregate principal amount of the Senior Notes due 2026.
  • 2024-02-20: Adversary proceeding filed by the liquidating trustee in LVIs Chapter 11 bankruptcy case.
  • 2024-03-21: Lead plaintiff in securities class action filed an amended complaint.
  • 2024-08: Acquisition of a credit card loan portfolio for cash consideration of approximately $378 million.
  • 2024-10: Entered into amended credit agreement for a $700 million senior unsecured revolving credit facility.
  • 2025-01: Redeemed the remaining $100 million in aggregate principal amount of Senior Notes due 2026.
  • 2025-03-05: Board of Directors approved a stock repurchase program to acquire up to $150 million in shares of outstanding common stock.
  • 2025-03-10: Issued and sold $400 million aggregate principal amount of 8.375% Fixed-Rate Reset Subordinated Notes due June 2035.
  • 2025-03-20: Commenced substantially similar action in Delaware Chancery Court.
  • 2025-03: United States District Court for the Southern District of Ohio granted motions to dismiss in full and with prejudice.
  • 2025-03-31: End of the quarterly period.
  • 2025-04-15: The United States District Court for the Northern District of Texas entered an order and final judgement, pursuant to which the CFPBs credit card late fee rule was vacated.
  • 2025-04-24: Board of Directors declared a quarterly cash dividend of $0.21 per share on common stock.
  • 2025-04: Completed the $150 million stock repurchase program.
  • 2025-04-29: Date of report.
  • 2025-05-09: Stockholders of record date for the quarterly cash dividend.
  • 2025-06-13: Payment date for the quarterly cash dividend.
Keywords
credit card, financial results, capital, deposits, loans, BFH, Bread Financial
BFH 
Bread Financial Holdings, INC 
NYSE
Sector: Financial Services
 
Filings with Classifications
Delay expected
11 June 2025 7:01 AM
Performance Update
  • The company froze delinquency progression for cardholders in Federal Emergency Management Agency (FEMA) identified impact zones for one billing cycle due to hurricanes Helene and Milton. This action delayed the recognition of certain losses, resulting in modestly lower Net principal losses and Net loss rate in the fourth quarter of 2024, and will consequently negatively impact these metrics in the second quarter of 2025.
Better than expected
11 June 2025 7:01 AM
Performance Update
  • The net loss rate improved to 8.0% from 8.8% year-over-year.
  • Net principal losses decreased to $120 million from $133 million year-over-year.
  • The delinquency rate improved to 5.7% from 5.9% year-over-year.
  • 30 days+ delinquencies decreased to $926 million from $976 million year-over-year.
  • Despite the company's forward-looking statement that hurricane-related actions would negatively impact Q2 2025 metrics, the reported actuals for May 2025 show year-over-year improvement in key credit quality indicators.
Better than expected
5 June 2025 7:45 AM
Current Report Tender Offer Results
  • The tender offer was significantly oversubscribed, with approximately $536.8 million in Notes tendered against a $150 million Tender Cap. This indicates strong participation and allows the company to achieve its debt reduction goals effectively.
  • The successful execution of the early tender results means the company can proceed with purchasing the desired amount of Notes, thereby managing its debt obligations and potentially reducing future interest expenses.
Better than expected
13 May 2025 7:01 AM
Performance Update
  • The net loss rate improved from 8.6% to 7.8% year-over-year.
  • The delinquency rate decreased from 6.0% to 5.7% year-over-year.
  • Net principal losses decreased from $127 million to $114 million year-over-year.
Worse than expected
28 April 2025 9:49 PM
Quarterly Report
  • Average and end-of-period credit card and other loans decreased, indicating a contraction in lending activity.
  • Total interest income decreased due to lower late fees and average loan balances, suggesting weaker revenue generation from core lending operations.
  • The 2025 outlook has been adjusted to reflect slower credit sales growth and slightly higher inflation, signaling a less optimistic future performance.
Worse than expected
24 April 2025 6:56 AM
Performance Update
  • The net loss rate increased to 8.1% for the month and 8.2% for the quarter, indicating worsening credit performance.
  • Net principal losses were $123 million for the month and $365 million for the quarter, suggesting increased credit risk.
Better than expected
17 March 2025 7:31 AM
Performance Update
  • The net loss rate improved from 8.9% to 8.6% year-over-year.
  • The delinquency rate improved from 6.7% to 6.2% year-over-year.
Capital raise
6 March 2025 1:32 AM
Debt Offering Announcement
  • Bread Financial is raising $400 million through a private offering of subordinated notes.
  • The net proceeds are expected to be approximately $395 million after deducting the initial purchasers' discount.
  • The company intends to lend at least $250 million of the proceeds to Comenity Capital Bank.
  • The remaining proceeds may be used for general corporate purposes, including share repurchases.
Capital raise
5 March 2025 7:45 AM
8-K Filing
  • Bread Financial intends to offer $400 million aggregate principal amount of fixed-rate reset subordinated notes in a private offering.
  • The company intends to lend no less than $250 million of the net proceeds of the Notes offering as subordinated debt to one of its subsidiary banks, Comenity Capital Bank, with the remaining proceeds intended to be used for general corporate purposes, which may include share repurchases.
Worse than expected
30 January 2025 6:52 AM
Quarterly Report
  • The company's net income and adjusted net income decreased significantly year-over-year, indicating worse than expected results.
  • Revenue decreased by 9% in the fourth quarter, primarily due to lower finance charges and late fees, indicating worse than expected results.
  • Income from continuing operations decreased by 83% in the fourth quarter, primarily due to lower net interest income and higher total non-interest expenses, indicating worse than expected results.
Worse than expected
30 October 2024 5:52 PM
Quarterly Report
  • The company's net income decreased significantly due to increased provision for credit losses and expenses related to convertible note repurchases.
  • The company's net interest margin decreased due to decreased late fees and higher funding costs.
  • The company's credit sales decreased, reflecting a slowdown in consumer spending and strategic credit tightening.
Worse than expected
24 October 2024 6:57 AM
Performance Update
  • The net loss rate increased to 7.4% for the month and 7.8% for the three-month period, indicating a deterioration in credit quality.
  • The delinquency rate also increased slightly to 6.4%, suggesting a higher proportion of loans are becoming past due.
Worse than expected
24 October 2024 6:55 AM
Quarterly Report
  • The company's net income and earnings per share were significantly lower than the previous year due to the impact of the convertible note repurchase and increased credit losses.
  • Revenue decreased year-over-year, indicating a slowdown in business activity.
  • The delinquency and net loss rates increased, suggesting a deterioration in credit quality.
Better than expected
21 October 2024 5:06 PM
Material Definitive Agreement
  • The document indicates better results due to the extension of the maturity date, lower interest rates, and increased financial flexibility.
Worse than expected
16 September 2024 7:31 AM
Performance Update
  • The net loss rate increased from 6.7% to 7.8% year-over-year.
  • Net principal losses increased from $99 million to $118 million year-over-year.
  • The delinquency rate increased from 5.9% to 6.2% year-over-year.
Worse than expected
15 August 2024 7:31 AM
Performance Update
  • The net loss rate increased from 7.4% to 8.0%, indicating a deterioration in credit quality.
  • The delinquency rate rose from 5.7% to 6.2%, suggesting more borrowers are falling behind on payments.
  • Net principal losses increased from $108 million to $120 million, reflecting higher credit losses.
Delay expected
31 July 2024 5:51 PM
Quarterly Report
  • The final rule on credit card late fees published by the CFPB had an original effective date of May 14, 2024, but was delayed by a court injunction.
Worse than expected
31 July 2024 5:51 PM
Quarterly Report
  • The company's credit sales decreased by 7% year-over-year, indicating a slowdown in consumer spending.
  • The net interest margin decreased to 18.0% from 18.7% in the same quarter last year, due to higher funding costs.
  • The company expects 2024 average credit card and other loans to be down low-single digits.
Worse than expected
25 July 2024 6:56 AM
Performance Update
  • The net loss rate and delinquency rate both increased compared to the previous year, indicating a worsening credit performance.
Worse than expected
25 July 2024 6:52 AM
Quarterly Report
  • The company's revenue decreased by 1% year-over-year, indicating a worse performance than the previous year.
  • The company's credit sales decreased by 7% year-over-year, indicating a worse performance than the previous year.
  • The company's net loss rate increased to 8.6% from 8.0% in the second quarter of 2023, indicating a worse performance than the previous year.
Worse than expected
12 June 2024 7:31 AM
Performance Update
  • The net loss rate increased from 8.4% to 8.8%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.5% to 5.9%, suggesting a higher risk of future losses.
Worse than expected
15 May 2024 7:31 AM
Performance Update
  • The net loss rate increased from 7.8% to 8.6%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.5% to 6.0%, suggesting a higher risk of future losses.
  • Net principal losses increased from $114 million to $127 million, reflecting higher credit losses.
Worse than expected
1 May 2024 5:50 PM
Quarterly Report
  • The company's total net interest and non-interest income decreased by 23% year-over-year.
  • Credit sales decreased by 18% year-over-year.
  • The provision for credit losses increased due to a smaller reserve release and higher net principal losses.
Worse than expected
25 April 2024 6:57 AM
Performance Update
  • The delinquency rate increased from 5.7% to 6.2%, indicating a worsening credit quality.
  • The net loss rate increased to 8.5% for the three months ended March 31, 2024, compared to the previous year, indicating higher losses.
Worse than expected
25 April 2024 6:54 AM
Quarterly Report
  • The company's revenue and net income decreased significantly compared to the same quarter last year, primarily due to the sale of the BJ's portfolio in the prior year and the impact of the CFPB late fee rule.
  • The company's net loss rate increased to 8.5% from 7.0% in the first quarter of 2023, indicating a deterioration in credit quality.
  • The company expects average credit card and other loans to be down low-single digits relative to 2023, indicating a slowdown in growth.
Worse than expected
13 March 2024 7:02 AM
Performance Update
  • The net loss rate increased from 7.8% to 8.9% year-over-year.
  • The delinquency rate increased from 6.0% to 6.7% year-over-year.
Delay expected
20 February 2024 7:13 AM
Annual Results
  • The document mentions that certain lenders of private placement commitments within the company's securitization trusts have sought and obtained amendments to their respective transaction documents permitting them to delay disbursement of funding increases by up to 35 days.
Worse than expected
20 February 2024 7:13 AM
Annual Results
  • The company's Delinquency rate of 6.5% as of December 31, 2023 exceeded the peak rate during the Great Recession.
  • The company's Net loss rate of 7.5% for 2023 is high relative to historical experience.
  • The company's 2024 financial outlook anticipates lower revenue and a higher Net loss rate.
Capital raise
20 February 2024 7:13 AM
Annual Results
  • The company issued and sold $316 million aggregate principal amount of 4.25% Convertible Senior Notes due 2028.
  • The company issued and sold $600 million aggregate principal amount of 9.750% Senior Notes due 2029.
  • The company issued and sold an additional $300 million aggregate principal amount of Senior Notes due 2029 in January 2024.
Worse than expected
15 February 2024 7:35 AM
Performance Update
  • The net loss rate increased from 6.7% to 8.0%, indicating a deterioration in credit quality.
  • The delinquency rate increased from 5.8% to 6.8%, suggesting more borrowers are falling behind on payments.
  • Average credit card and other loans decreased by 9%, indicating a contraction in the loan portfolio.
Worse than expected
25 January 2024 6:56 AM
Performance Update
  • The delinquency rate increased from 5.5% to 6.5% year-over-year, indicating a deterioration in credit quality.
  • The average loan balances decreased year-over-year, suggesting a potential slowdown in business growth.
  • The net loss rate of 8.2% for the month is higher than the 8.0% for the three months, indicating a worsening trend.
Worse than expected
25 January 2024 6:52 AM
Quarterly Report
  • The company's revenue decreased by 2% in Q4 2023 compared to Q4 2022.
  • The company's net loss rate increased to 8.0% in Q4 2023 from 6.3% in Q4 2022.
  • The company expects average loan growth to be down low-single digits in 2024.
  • The company anticipates a decrease in total revenue for 2024.
  • The company expects a lower net interest margin in 2024.

Disclaimer: This summary was generated by artificial intelligence and its accuracy is not guaranteed. The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.