COLUMBUS, Ohio, Feb. 13, 2024 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE:BFH), a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions, today announced the company's participation in the Bank of America 2024 Financial Services Conference on Wednesday, Feb. 21 and KBW's 2024 Fintech & Payments Conference on Tuesday, Feb. 27. Bread Financial President and Chief Executive Officer Ralph Andretta and EVP and Chief Financial Officer Perry Be ...

Bread Financial Holdings’ (BFH) operating income of 90 cents per share for the fourth quarter of 2023 beat the Zacks Consensus Estimate of a loss of 73 cents.  The bottom line improved from the year-ago quarter’s reported loss of $2.68 per share.The quarterly results reflect the execution of growth initiatives and the strengthening of the balance sheet by lowering the debt level.  With the sale of the BJ's portfolio in February 2023 and strategic credit tightening, loans grew at a low to mid-single digit.Th ...

( ) bread financial. © 2 0 2 2 B r e a d F i n a n c i a l | C o n f i d e n t i a l & P r o p r i e t a r y 1 Bread Financial Fourth quarter and full year 2023 results January 25, 2024 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. Forward-looking statements give our expectations or forecasts of futur ...

Bread Financial Holdings, Inc. (NYSE:BFH) Q4 2023 Earnings Conference Call January 25, 2024 8:30 AM ET Company Participants Brian Vereb - Head, Investor Relations Ralph Andretta - President and CEO Perry Beberman - Executive Vice President and CFO Conference Call Participants Vincent Caintic - Stephens Mihir Bhatia - Bank of America Merrill Lynch Sanjay Sakhrani - KBW Moshe Orenbuch - Cowen Jeff Adelson - Morgan Stanley Reggie Smith - JPMorgan Bill Carcache - Wolfe Research Dominick Gabriele - Oppenheimer J ...

For the quarter ended December 2023, Bread Financial Holdings (BFH) reported revenue of $1.02 billion, down 1.6% over the same period last year. EPS came in at $0.90, compared to -$2.68 in the year-ago quarter.The reported revenue represents a surprise of +3.03% over the Zacks Consensus Estimate of $987.07 million. With the consensus EPS estimate being -$0.73, the EPS surprise was +223.29%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectatio ...

Bread Financial Holdings (BFH) came out with quarterly earnings of $0.90 per share, beating the Zacks Consensus Estimate of a loss of $0.73 per share. This compares to loss of $2.68 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 223.29%. A quarter ago, it was expected that this manager of loyalty and rewards programs for retailers and others would post earnings of $2.24 per share when it actually produced earnings of $3.46, d ...

COLUMBUS, Ohio--(BUSINESS WIRE)--Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, flexible payment, lending and saving solutions, today announced its fourth quarter and full year 2023 financial results. All earnings-related materials are now available at the company’s investor relations website, here. Bread Financial President and Chief Executive Officer Ralph Andretta and Chief Financial Officer Perry Beberman will host a conference call at 8:30 a ...

The upcoming report from Bread Financial Holdings (BFH) is expected to reveal quarterly loss of $0.73 per share, indicating an increase of 72.8% compared to the year-ago period. Analysts forecast revenues of $987.07 million, representing a decrease of 4.5% year over year.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted upward by 12.6% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.Prior ...

COLUMBUS, Ohio--(BUSINESS WIRE)--Bread Financial™ (NYSE: BFH), a tech-forward financial services company that provides simple, flexible payment, lending and saving solutions, today announced that Allegra Driscoll has been named executive vice president and chief technology officer. Ms. Driscoll joins Bread Financial from American Express, where she most recently served as SVP, Chief Information Officer of the Global Commercial Services Unit. “We are thrilled to welcome Allegra to our organization and exe ...

Financial Data and Key Metrics Changes - The company reported net income of $171 million for the third quarter, with a return on equity of 25% [38] - Revenue for the quarter was $1.0 billion, up 5% year-over-year, while income from continuing operations increased by 29% to $173 million [65] - The net loss rate for the quarter was 6.9%, compared to 5.0% in the third quarter of 2022 and 8.0% in the second quarter of 2023 [67] Business Line Data and Key Metrics Changes - Credit sales decreased by 13% year-over-year to $6.7 billion, influenced by the sale of the BJs Wholesale Club portfolio and strategic credit tightening [45] - Average loans remained flat year-over-year, driven by new partner additions and a lower consumer payment rate [25] - Total non-interest expenses increased by 3% year-over-year but declined by $28 million or 5% sequentially [26] Market Data and Key Metrics Changes - The economic environment remains challenging, with consumers facing persistent inflation, high interest rates, and the resumption of student loan payments [20] - The delinquency rate for the third quarter was 6.3%, up from the second quarter, driven by macroeconomic pressures [67] - The company anticipates that the fourth quarter net loss rate will be approximately 8%, influenced by seasonal trends and consumer payment pressures [70] Company Strategy and Development Direction - The company aims to grow responsibly, strengthen its balance sheet, optimize data and technology, and strategically invest in its business [21] - The management team is committed to driving responsible growth that delivers long-term shareholder value, focusing on sustainable profitable growth [22] - The company is developing mitigation strategies in anticipation of regulatory changes regarding credit card late fees, which could significantly impact its business [40] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in their disciplined credit risk management and ability to drive sustainable value through the full economic cycle [23] - The company expects consumer macroeconomic pressures to continue, leading to softer consumer spending and lower loan growth in 2024 [72] - Management indicated that losses are expected to peak in 2024, with the net loss rate influenced by ongoing macroeconomic challenges [72] Other Important Information - The company completed a $35 million share repurchase during the quarter, representing 935,000 shares [19] - The tangible book value per share exceeded $42, nearly tripling since the fourth quarter of 2020 [38] - The company has reduced parent-level debt by 55% over the past three years, paying down more than $1.7 billion [43] Q&A Session Summary Question: What are the mitigation efforts regarding the CFPB rules? - Management is testing different APRs and fees to close gaps and is collaborating with partners to address potential impacts [75] Question: How will the reserve rate migrate next year? - The reserve rate is expected to remain steady, influenced by macroeconomic conditions and consumer payment pressures [89] Question: Did the company grow too aggressively post-COVID? - Management believes they have remained disciplined in growth, with proactive risk management across the borrower lifecycle [123] Question: What is the outlook for delinquency rates? - Delinquency rates are expected to remain elevated due to inflation pressures, but management is focused on reducing early-stage delinquency [126] Question: How does the company view its capital structure? - The company aims to support responsible growth while reducing debt and building capital ratios to fortify its balance sheet [83]