Financial Performance - Total net interest and non-interest income increased by $59 million (7%) to $952 million for the three months ended June 30, 2023, compared to the same period in 2022[62] - Provision for credit losses decreased by $68 million (17%) to $336 million for the three months ended June 30, 2023, compared to the same period in 2022[62] - Net income increased by $36 million to $48 million for the three months ended June 30, 2023, compared to the same period in 2022[62] - Total interest income increased by 12% year-over-year, with a net interest margin of 18.7% for Q2 2023[79] - Non-interest income increased by $45 million, primarily due to merchant discount fees and interchange revenue[79] - Net principal losses increased by $113 million and $256 million for the three and six months ended June 30, 2023, respectively[90] Expenses and Efficiency - Total non-interest expenses increased by $57 million (12%) to $530 million for the three months ended June 30, 2023, compared to the same period in 2022[62] - Total non-interest expenses increased by 12% year-over-year, driven by higher employee compensation and technology investments[80] - The company expects second half 2023 total non-interest expenses to be lower than the first half, driven by improved operating efficiencies and lower intangible amortization expense[59] Credit and Loans - Credit sales decreased by 13% year-over-year to $7.1 billion, driven by the sale of the BJ's Wholesale Club portfolio and macroeconomic headwinds[79] - Average credit card and other loans increased by 4%, while end-of-period loans increased by 1%, driven by new brand partners and moderation in consumer payment rates[79] - The company expects full-year 2023 average credit card and other loans to grow in the low- to mid-single digits relative to 2022[83] - The 2023 financial outlook assumes a full-year net loss rate in the low-to-mid 7% range, with a reserve rate of 12.3% as of June 30, 2023[84] Capital and Liquidity - The company's TCE/TA ratio was 9.4% as of June 30, 2023, reflecting a strengthened balance sheet and improved capital ratios[56] - Direct-to-consumer (DTC) deposits comprised 33% of the funding mix as of June 30, 2023, with a reduction in debt of over $500 million[82] - The company maintains a significant majority of its liquidity portfolio on deposit within the Federal Reserve banking system[110] Reserves and Credit Quality - The reserve rate increased to 12.3% as of June 30, 2023, compared to 11.5% as of December 31, 2022, due to the sale of the BJ's portfolio and softening economic indicators[55] - The company's Vantage 660+ cardholder percentage remains materially above pre-pandemic levels due to prudent credit tightening actions and a more diversified product mix[55] Tax and Dividends - The company expects full-year normalized effective tax rate to remain in the range of 25% to 26% for 2023[60] - Dividends paid to common stockholders were $11 million and $21 million for the three and six months ended June 30, 2023, respectively[366] - Quarterly cash dividend of $0.21 per share declared on July 27, 2023, payable on September 15, 2023[366] Comprehensive Loss and Fair Value - Accumulated Other Comprehensive Loss increased from $(19) million to $(20) million for the three months ended June 30, 2023[362] - Accumulated Other Comprehensive Loss increased from $(9) million to $(14) million for the three months ended June 30, 2022[362] - Accumulated Other Comprehensive Loss decreased from $(21) million to $(20) million for the six months ended June 30, 2023[362] - Accumulated Other Comprehensive Loss increased from $(2) million to $(14) million for the six months ended June 30, 2022[362] - Money market and other non-maturity deposits carrying values approximate their fair values due to short-term duration and no defined maturity[353] Market and Interest Rate Risk - No material change in exposure to interest rate risk or other market risks compared to 2022 Form 10-K[385] - No transfers into or out of Level 3, and no transfers between Levels 1 and 2 for the three and six months ended June 30, 2023 and 2022[351] Financial Outlook - The company's 2023 financial outlook reflects slowing sales growth due to self-moderated consumer spending and targeted credit tightening[58]

Bread Financial Holdings, Inc. (NYSE:BFH) Q2 2023 Earnings Conference Call July 27, 2023 8:30 AM ET Company Participants Brian Vereb - Head of Investor Relations Ralph Andretta - President & Chief Executive Officer Perry Beberman - Executive Vice President & Chief Financial Officer Conference Call Participants Sanjay Sakhrani - KBW Robert Napoli - William Blair Mihir Bhatia - Bank of America Merrill Lynch Jeff Adelson - Morgan Stanley Bill Carcache - Wolfe Research Dominick Gabriele - Oppenheimer Reggie ...

UNITED STATES (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-15749 _______________________________________ Table of Contents Washington, D.C. 20549 Delaware 31-1429215 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) (614) 729-4000 (Registr ...

Bread Financial Holdings, Inc. (NYSE:BFH) Q1 2023 Earnings Conference Call April 27, 2023 8:30 AM ET Company Participants Brian Vereb - Head of Investor Relations Ralph Andretta - President and Chief Executive Officer Perry Beberman - Executive Vice President and Chief Financial Officer Conference Call Participants Sanjay Sakhrani - KBW Vincent Caintic - Stephens Moshe Orenbuch - Credit Suisse Mihir Bhatia - Bank of America Jeff Adelson - Morgan Stanley Bill Carache - Wolfe Research Regi Smith - JPMorgan Do ...

V bread financial. Bread Financial 1Q23 Investor Deck February 13, 2023 Forward-looking statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as "believe," "expect," "anticipate," "estimate," "intend," "project," "plan," "likely," "may," "should" or ...

Our revenues are largely dependent on the number and volume of credit transactions by consumers, whose spending patterns may be affected by economic, political, market, health and social events or conditions. As described above, adverse macroeconomic conditions within the U.S. or internationally, including but not limited to recessions, inflation, rising interest rates, high unemployment, currency fluctuations, actual or anticipated large-scale defaults or failures, volatility in energy prices, a slowdown o ...

Bread Financial Holdings, Inc. (NYSE:BFH) Q4 2022 Earnings Conference Call January 26, 2023 8:30 AM ET Company Participants Brian Vereb - Head of Investor Relations Ralph Andretta - President and Chief Executive Officer Perry Beberman - Executive Vice President and Chief Financial Officer Conference Call Participants Sanjay Sakhrani - KBW Robert Napoli - William Blair Moshe Orenbuch - Credit Suisse Vincent Caintic - Stephens Jeff Adelson - Morgan Stanley Bill Carache - Wolfe Research Mihir Bhatia - Bank of ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-15749 BREAD FINANCIAL HOLDINGS, INC. (Exact name of registrant as specified in its charter) d financic Delaware 31-1429215 (State or other j ...

Bread Financial Holdings, Inc. (NYSE:BFH) Q3 2022 Earnings Conference Call October 27, 2022 8:30 AM ET Company Participants Brian Vereb - Head, IR Ralph Andretta - CEO, President & Director Perry Beberman - EVP & CFO Conference Call Participants Sanjay Sakhrani - KBW Robert Napoli - William Blair & Company Mihir Bhatia - Bank of America Merrill Lynch Bill Carcache - Wolfe Research Jeffrey Adelson - Morgan Stanley John Pancari - Evercore ISI David Scharf - JMP Securities Reginald Smith - JPMorgan Chase & Co. ...

\ bread financial. Bread Financial Third Quarter 2022 Results October 27, 2022 Ralph Andretta President & CEO Perry Beberman EVP & CFO Forward-Looking Statements This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forwardlooking statements give our expectations or forecasts of future events and can generally be identified by the use of words such as "believe," "expect," "anticipate," "estimat ...