Earnings summaries and quarterly performance for BREAD FINANCIAL HOLDINGS.
Executive leadership at BREAD FINANCIAL HOLDINGS.
Ralph Andretta
Detailed
President and Chief Executive Officer
CEO
AD
Allegra Driscoll
Detailed
Executive Vice President, Chief Technology Officer
BC
Bryan Campbell
Detailed
Senior Vice President, Chief Accounting Officer
JM
Joseph Motes
Detailed
Executive Vice President, Chief Administrative Officer, General Counsel and Secretary
PB
Perry Beberman
Detailed
Executive Vice President, Chief Financial Officer
TM
Tammy McConnaughey
Detailed
Executive Vice President, Chief Credit Risk and Operations Officer
VG
Valerie Greer
Detailed
Executive Vice President, Chief Commercial Officer
Board of directors at BREAD FINANCIAL HOLDINGS.
Research analysts who have asked questions during BREAD FINANCIAL HOLDINGS earnings calls.
Jeffrey Adelson
Morgan Stanley
8 questions for BFH
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MB
Mihir Bhatia
Bank of America
8 questions for BFH
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SS
Sanjay Sakhrani
Keefe, Bruyette & Woods (KBW)
8 questions for BFH
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MO
Moshe Orenbuch
TD Cowen
7 questions for BFH
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VC
Vincent Caintic
Stephens Inc.
7 questions for BFH
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JP
John Pancari
Evercore ISI
5 questions for BFH
Also covers: ALLY, AXP, CFG +19 more
Bill Carcache
Wolfe Research, LLC
4 questions for BFH
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DG
Dominick Gabriele
Compass Point Research & Trading, LLC
3 questions for BFH
Also covers: AVDX, JKHY, NATL +2 more
RS
Reggie Smith
JPMorgan Chase & Co.
3 questions for BFH
Also covers: AFRM, CIFR, CLSK +7 more
TM
Terry Ma
Barclays
3 questions for BFH
Also covers: AER, AL, AXP +16 more
JH
John Hecht
Jefferies
2 questions for BFH
Also covers: AFRM, ARCC, CACC +23 more
RS
Reginald Smith
JPMorgan Chase & Co.
2 questions for BFH
Also covers: AFRM, BETR, CIFR +8 more
Richie Smith
JPMorgan Chase & Co.
2 questions for BFH
DR
David Rochester
Compass Point
1 question for BFH
Also covers: BKU, CFR, EWBC +6 more
Jon Arfstrom
RBC Capital Markets
1 question for BFH
Also covers: ALLY, ASB, BKU +24 more
RS
Ryan Shelley
Bank of America
1 question for BFH
Also covers: CACC, NAVI, PFSI
Recent press releases and 8-K filings for BFH.
Bread Financial Reports Strong Q4 2025 Results and Provides 2026 Outlook
BFH
Earnings
Guidance Update
Share Buyback
Debt Issuance
- Bread Financial reported Q4 2025 adjusted net income of $95 million and adjusted earnings per diluted share of $2.07, with tangible book value per common share growing 23% year-over-year to $57.57. Revenue increased 5% year-over-year.
- In 2025, the company returned $350 million in capital to shareholders, including $310 million in common share repurchases (representing 12% of year-end 2024 outstanding shares) and a 10% increase in the quarterly common stock dividend. Bread Financial also issued $75 million in preferred shares and refinanced $900 million of senior notes.
- Credit metrics showed improvement, with the Q4 2025 net loss rate at 7.4% (down 60 basis points year-over-year) and the delinquency rate at 5.8% (down 10 basis points year-over-year).
- For full-year 2026, Bread Financial anticipates low single-digit growth in average loans and total revenue, expects to achieve positive operating leverage, and projects a net loss rate in the 7.2%-7.4% range.
- Strategic focus includes new partnerships like Crypto.com, Cricket Wireless, and Vivint, and the renewal of all top 10 programs until at least 2028. The company continues its multi-year technology transformation, including accelerated AI adoption , with over 60 AI initiatives in motion.
Jan 29, 2026, 1:30 PM
Bread Financial Reports Strong Q4 and Full-Year 2025 Results, Provides Positive 2026 Outlook
BFH
Earnings
Guidance Update
Share Buyback
- Bread Financial reported Q4 2025 adjusted net income of $95 million and adjusted earnings per diluted share of $2.07, with a full-year return on average tangible common equity of 20%.
- The company returned $350 million in capital to shareholders in 2025, including $310 million in common share repurchases (representing 12% of year-end 2024 outstanding shares) and a 10% increase in its quarterly common stock dividend.
- Credit metrics showed improvement, with the Q4 2025 net loss rate at 7.4% and the full-year net loss rate at 7.7%, which was better than their outlook.
- For 2026, Bread Financial anticipates low single-digit growth in average credit card and other loans and total revenue, along with a projected net loss rate in the 7.2%-7.4% range.
- Strategic initiatives included renewing all top 10 brand partners until at least 2028, growing direct-to-consumer deposit balances by 11% year-over-year, and receiving credit rating upgrades from Moody's and Fitch.
Jan 29, 2026, 1:30 PM
Bread Financial Reports Strong Q4 and Full-Year 2025 Results, Provides 2026 Outlook
BFH
Earnings
Guidance Update
Share Buyback
- Bread Financial reported strong Q4 2025 adjusted net income of $95 million and adjusted EPS of $2.07, contributing to a full-year return on average tangible common equity (ROTCE) of 20%. Tangible book value per common share increased 23% year-over-year to $57.57.
- The company demonstrated improving credit metrics with a Q4 net loss rate of 7.4%, down 60 basis points year-over-year, and a full-year net loss rate of 7.7%. Capital management included returning $350 million to shareholders in 2025, comprising $310 million in common share repurchases and a 10% increase in the quarterly common stock dividend.
- For 2026, Bread Financial anticipates average credit card and other loans growth to be up low single digits, with total revenue growth also projected to be up low single digits. The net loss rate is expected to be in the 7.2%-7.4% range, and the company aims for a longer-term mid-20% ROTCE target.
Jan 29, 2026, 1:30 PM
Bread Financial Holdings, Inc. provides December 2025 performance update
BFH
Demand Weakening
Earnings
- Bread Financial Holdings, Inc. reported a net loss rate of 7.4% for both December 2025 and the three months ended December 31, 2025.
- The company's delinquency rate was 5.8% as of December 31, 2025, which is a decrease from 5.9% as of December 31, 2024.
- End-of-period credit card and other loans totaled $18,805 million as of December 31, 2025.
- Average credit card and other loans experienced a year-over-year decrease of 1% for the period ended December 31, 2025.
Jan 29, 2026, 11:57 AM
Bread Financial Reports Strong Full Year 2025 Results and Provides 2026 Outlook
BFH
Earnings
Dividends
Share Buyback
- Bread Financial reported strong full year 2025 financial results, with net income of $518 million and diluted earnings per share of $10.89, representing an 87% and 98% increase, respectively, over 2024.
- The company returned $350 million in capital to shareholders in 2025, including $310 million via common share repurchases, and increased its quarterly common dividend by 10%, declaring $0.23 per share for Q1 2026.
- Balance sheet strength was highlighted by a 23% increase in tangible book value per common share to $57.57 by Q4 2025 and a Common Equity Tier 1 (CET1) capital ratio of 13.0%. Credit quality improved, with the full year 2025 net loss rate decreasing to 7.7% and the delinquency rate to 5.8%.
- For full year 2026, Bread Financial anticipates low single-digit growth for average loans and revenue, with a projected net loss rate of 7.2% to 7.4%.
Jan 29, 2026, 11:46 AM
Bread Financial Provides Update on Q4 Outlook, Capital Structure, and 2026 Strategy
BFH
Guidance Update
Debt Issuance
Convertible Preferred Issuance
- Bread Financial expects Q4 2025 spend growth of 1-2% year over year and anticipates loan growth to be slightly up in 2026 after being slightly down in 2025. The company expects to come in at the low end of its 7.8-7.9% loss rate guidance for the current year, with continued improvement of 30-40 basis points expected in 2026.
- The company achieved its CET1 ratio target of mid-13% to 14%. It refinanced $719 million of senior notes at 9.75% with $500 million at 6.75%, incurring a $60 million debt extinguishment cost in Q4.
- Bread Financial issued $75 million in preferreds and plans to issue an additional $225 million opportunistically to reach a total of $300 million (1.5% of RWA), which would reduce the binding capital constraint to 12-13%.
- The direct-to-consumer deposit program reached $8.2 billion and 47% of total funding at the end of the last quarter, with a long-term goal of 70%.
Dec 10, 2025, 6:40 PM
Bread Financial Discusses Strategy, Credit, and Capital Outlook
BFH
Guidance Update
Debt Issuance
Share Buyback
Convertible Preferred Issuance
- Bread Financial anticipates low single-digit 1%-2% year-over-year spend growth for the fourth quarter of 2025 and expects slightly positive loan growth in 2026, driven by new partners including Bed Bath & Beyond, Furniture First, and Raymour & Flanigan.
- The company projects ending 2025 at the lower end of its 7.8-7.9% loss rate guidance and expects a 30-40 basis point improvement in 2026, with a long-term goal of reaching a 6% loss rate over the next few years.
- Bread Financial has achieved its CET1 ratio targets and plans to issue an additional $225 million in preferreds over the coming year to reach a total of $300 million, which would reduce capital targets to 12-13%.
- The company refinanced debt, paying off $719 million of 9.75% senior notes and issuing $500 million of 6.75% senior notes, which will result in a $60 million debt extinguishment cost in Q4 2025.
- Bread Financial also has almost $350 million in share buyback authorizations that it expects to deploy over time.
Dec 10, 2025, 6:40 PM
Bread Financial Provides Q4 2025 Outlook and Strategic Updates
BFH
Guidance Update
Debt Issuance
Share Buyback
- Bread Financial anticipates low single-digit (1%-2%) year-over-year spend growth for Q4 2025 and expects loan growth to inflect from slightly down in 2025 to slightly up in 2026. The company projects to be at the low end of its 7.8%-7.9% loss rate guidance for the year and forecasts a 30-40 basis point improvement in the loss rate for 2026.
- The company has strengthened its capital position, achieving a CET1 ratio in the mid-13% to 14% range. It refinanced $719 million of senior notes at 9.75% interest with $500 million at 6.75%, incurring a $60 million debt extinguishment cost in Q4.
- Bread Financial issued a $75 million first tranche of preferreds and plans to issue an additional $225 million to reach a total of $300 million, which will lower its capital target constraint to 12%-13%. The company also has almost $350 million in share buyback authorizations to deploy over time.
- The direct-to-consumer deposit program reached $8.2 billion at the end of the last quarter, making up 47% of total funding, with a long-term goal of 70%. The company's new partner pipeline is robust, with recent additions including Bed Bath & Beyond, Furniture First, and Raymour & Flanigan.
Dec 10, 2025, 6:40 PM
Bread Financial Holdings, Inc. Provides November 2025 Performance Update
BFH
Guidance Update
Demand Weakening
- Bread Financial Holdings, Inc. reported a net loss rate of 7.4% for November 2025, an improvement from 8.0% in November 2024.
- The company's delinquency rate as of November 30, 2025, was 6.0%, down from 6.2% as of November 30, 2024.
- End-of-period credit card and other loans were $18,094 million as of November 30, 2025, with average credit card and other loans showing a year-over-year decrease of (1%).
Dec 10, 2025, 12:32 PM
Bread Financial Provides November 2025 Performance Update
BFH
Guidance Update
Demand Weakening
- Bread Financial reported a net loss rate of 7.4% for the month ended November 30, 2025, an improvement from 8.0% for the same period in 2024.
- The company's delinquency rate as of November 30, 2025, was 6.0%, a decrease from 6.2% as of November 30, 2024.
- End-of-period credit card and other loans stood at $18,094 million as of November 30, 2025, slightly down from $18,143 million a year prior, with average credit card and other loans decreasing 1% year-over-year.
- Net principal losses for the month ended November 30, 2025, were $109 million, compared to $118 million in the prior year. The company noted that Q4 2024 net principal losses and net loss rate were modestly lower due to freezing delinquency progression for cardholders in Federal Emergency Management Agency identified impact zones following hurricanes Helene and Milton.
Dec 10, 2025, 12:30 PM
Quarterly earnings call transcripts for BREAD FINANCIAL HOLDINGS.
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