Bread Financial Q1 2024 net income $134M, revenue down 23% YoY; provides CFPB rule-impacted outlook

BREAD FINANCIAL HOLDINGS, INC.

2024-Q1 EPS reported $2.70

Net income $134M, diluted EPS $2.70; continuing ops net income $135M, EPS $2.73.
Revenue $991M, down 23% YoY; PPNR $509M nearly flat ex $230M BJ's portfolio gain.
Average loans down 4% YoY; net loss rate 8.5%; delinquency rate 6.2%.
CET1 ratio 12.6% (+80 bps YoY); tangible book value per share $45.96 (+20%).
FY 2024 outlook: revenue down mid- to high-teen%; avg loans down low-single digits; net loss rate low 8% range.

item 2.02 item 7.01 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

BREAD FINANCIAL HOLDINGS, INC. reported first quarter ended March 31, 2024 results: revenue $991MM, net income $134 million, EPS $2.70.

Period: first quarter ended March 31, 2024
Revenue: $991MM
Net income: $134 million
EPS: $2.70
Result: reported results

Exact text from the filing

offering to $900 million in January 2024; reduced parent-level debt by $100 million. • Grew direct-to-consumer deposits to $7 billion at quarter-end. $18.5B 1Q24 Average loans $991MM 1Q24 Revenue 12.6% Common equity tier 1 capital ratio $45.96 Tangible book value per share Exhibit 99.1 Bread Financial | April 25, 2024 2 "Our first quarter financial results

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Source: SEC EDGAR

accession 0001101215-24-000092

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