---
schema_version: "secwatch.filing_event.v1"
accession: "0001101215-23-000075"
form_type: "8-K"
ticker: "BFH"
cik: "0001101215"
company_name: "BREAD FINANCIAL HOLDINGS, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:07:00.435455+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001101215-23-000075
- form_type: 8-K
- ticker: BFH
- cik: 0001101215
- company_name: BREAD FINANCIAL HOLDINGS, INC.
- filed_at: 2023-04-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000075/0001101215-23-000075-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000075/bfh-20230427.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001101215-23-000075
- JSON: https://secwatch.observer/filing/0001101215-23-000075.json
- Plain text: https://secwatch.observer/filing/0001101215-23-000075.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000075/0001101215-23-000075-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.