Bread Financial Q1 net income $455M, EPS $9.08 on $1.29B revenue; dividend maintained at $0.21

BREAD FINANCIAL HOLDINGS, INC.

2023-Q1 EPS reported $9.08

Q1 net income $455M ($9.08 diluted EPS) vs $211M ($4.21) a year ago; revenue $1,289M, up 40% YoY.
Results include $230M pretax gain on sale of BJ's Wholesale Club portfolio and $235M pretax reserve release.
Credit metrics elevated: delinquency rate 5.7%, net loss rate 7.0%; full-year 2023 net loss rate outlook ~7% unchanged.
Tangible common equity / tangible assets ratio improved to 9.1%; tangible book value per share over $38.
Board declared quarterly dividend of $0.21 per share, payable June 16, 2023 to holders of record May 12, 2023.

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 0.9

BREAD FINANCIAL HOLDINGS, INC. reported first quarter ended March 31, 2023 results: revenue $1,289 million, net income $455 million, EPS $9.08 per diluted share. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Revenue: $1,289 million
Net income: $455 million
EPS: $9.08 per diluted share
Guidance: reaffirmed
Result: reported results

Exact text from the filing

COLUMBUS, Ohio, April 27, 2023 – Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions, today announced financial results for the first quarter ended March 31, 2023. • First quarter net income was $455 million, or $9.08 per diluted share, with a $230 million pretax gain on portfolio sale and a pretax reserve release of $235 million due primarily to the sale of the BJ's Wholesale Club portfolio in February. • First quarter revenue was $1,289 million, up $368 million, or 40%, and up 15%, excluding the gain on portfolio sale versus the first quarter of 2022.

View on SEC.gov

8 earnings releases filed in the last 30 days. Browse all earnings releases →

BREAD FINANCIAL HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001101215-23-000075

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.