---
schema_version: "secwatch.filing_event.v1"
accession: "0001101215-23-000148"
form_type: "8-K"
ticker: "BFH"
cik: "0001101215"
company_name: "BREAD FINANCIAL HOLDINGS, INC."
filed_at: "2023-07-27T23:59:59+00:00"
generated_at: "2026-06-12T23:42:10.443118+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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).

## SEC filing metadata
- accession: 0001101215-23-000148
- form_type: 8-K
- ticker: BFH
- cik: 0001101215
- company_name: BREAD FINANCIAL HOLDINGS, INC.
- filed_at: 2023-07-27T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000148/0001101215-23-000148-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000148/bfh-20230727.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001101215-23-000148
- JSON: https://secwatch.observer/filing/0001101215-23-000148.json
- Plain text: https://secwatch.observer/filing/0001101215-23-000148.txt

## Key facts
- Earnings Releases
  BREAD FINANCIAL HOLDINGS, INC. updated its full year 2023 guidance (lowered).
  - Period: full year 2023
  - Guidance: lowered
  - Result: guidance update
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000148/0001101215-23-000148-index.htm
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/1101215/000110121523000148/0001101215-23-000148-index.htm

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