Bread Financial Q2 revenue $952M +7% YoY, EPS $1.27; Dell credit program and $35M buyback

BREAD FINANCIAL HOLDINGS, INC.

2023-Q2 EPS reported $10.02

Q2 continuing ops revenue $952M (+7% YoY); PPNR $422M flat; net loss rate 8.0% (100bps impact from processing transition).
Full-year 2023 outlook: avg loan growth low-to-mid single digits; net loss rate low-to-mid 7%; total revenue slightly above loan growth.
Signed agreement to provide private label credit program for Dell Technologies; acquiring Dell's consumer credit portfolio; expected close early Q4 2023.
Board approved $35M share repurchase program (offset dilution) and declared $0.21 quarterly dividend payable Sept 15.
Parent unsecured debt reduced by $500M in Q2; long-term debt reduced 55% since 2020; tangible book value per share $38.99 (+23% YoY).

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. updated its full year 2023 guidance (lowered).

Period: full year 2023
Guidance: lowered
Result: guidance update

Exact text from the filing

Our 2023 full year outlook is updated to reflect slower sales growth as a result of strategic credit tightening and moderating consumer spending, which pressures loan growth and the net loss rate.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

BREAD FINANCIAL HOLDINGS, INC. reported the second quarter ended June 30, 2023 results: revenue $952MM, net income $48 million, EPS $0.95 per diluted share.

Period: the second quarter ended June 30, 2023
Revenue: $952MM
Net income: $48 million
EPS: $0.95 per diluted share
Result: reported results

Exact text from the filing

rate would have been approximately 7%. • Tangible book value per share increased $7.24, or 23%, versus the second quarter of 2022. $17,652MM Average credit card and other loans $952MM Revenue 9.4% TCE/TA ratio $38.99 Tangible book value per share Exhibit 99.1 Bread Financial | July 27, 2023 2 2023 full year outlook • "Our 2023 full year outlook is updated to

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

BREAD FINANCIAL HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001101215-23-000148

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