Bread Financial Q4 net loss $134M; revenue up 21%; announces Yankees co-brand card, dividend $0.21

BREAD FINANCIAL HOLDINGS, INC.

2022-FY EPS reported $4.46

Q4 net loss of $134M ($2.68 diluted EPS loss); full year net income $223M ($4.46 EPS).
Total Q4 revenue $1,033M, +21% YoY; avg loan growth +23% YoY; reserve build $380M.
Expects 2023 avg loan growth mid-single digit, net loss rate ~7%, effective tax rate 25-26%.
Multi-year co-brand credit card agreement with New York Yankees; card launching before 2023 MLB season.
Quarterly dividend maintained at $0.21 per share, payable March 17, 2023 to holders of record Feb 10.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BREAD FINANCIAL HOLDINGS, INC. reported fourth quarter and fiscal year ended December 31, 2022 results: revenue $1,033 million, net income $(134) million, EPS $(2.68) per diluted share. Guidance reaffirmed.

Period: fourth quarter and fiscal year ended December 31, 2022
Revenue: $1,033 million
Net income: $(134) million
EPS: $(2.68) per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

due to strong loan growth in the quarter, including the required reserve build relating to the acquisition of the AAA credit card portfolio. Total fourth quarter revenue was $1,033 million, up $178 million, or 21%, versus the fourth quarter of 2021. As expected, normalization of credit metrics continued in the fourth quarter with a delinquency rate of 5.5% and a

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BREAD FINANCIAL HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001101215-23-000008

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