Bread Financial Q4 net income $45M vs loss a year ago; warns CFPB late fee rule could cut Q4'24 revenue 25%

BREAD FINANCIAL HOLDINGS, INC.

2023-FY EPS reported $14.34

Q4 2023 revenue $1,017M (-2% YoY); net income $45M ($0.90 EPS diluted) vs loss of $134M in Q4 2022.
Full year 2023 revenue $4,289M (+12% YoY); net income $737M ($14.74 EPS) vs $224M in 2022.
CET1 capital ratio 12.2% (up 350 bps); paid down ~$500M unsecured debt in 2023; $900M senior notes issued.
2024 guidance: average loans down low-single digits; revenue down low-mid single digits; net loss rate low 8% range.
CFPB late fee rule (if effective Oct 1, 2024) estimated to reduce Q4'24 revenue ~25% net of mitigation; rule may be challenged.

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 0.4

BREAD FINANCIAL HOLDINGS, INC. reported financial results for the fourth quarter and fiscal year ended December 31, 2023.

Period: the fourth quarter and fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On January 25, 2024, Bread Financial Holdings, Inc. (the “Company”) issued a press release regarding its results of operations for the fourth quarter and fiscal year ended December 31, 2023 (the “Q4 2023 Earnings Release”).

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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 0001101215-24-000020

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