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Bread Financial Holdings (BFH)
NYSE:BFH
Earnings Data
Report Date
Apr 23, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
2.86Last Year’s EPS
2.86Same Quarter Last Year
Based on 12 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlighted multiple tangible operational and financial improvements—new partner signings, deposit growth, capital returns, rating upgrades, improving credit metrics, rising tangible book value, and positive operating leverage—while acknowledging short-term headwinds from debt repurchase costs, flat-to-slow loan growth due to high payment rates, and revenue pressure from lower billed fees and macro/rate sensitivity. Management provided a constructive 2026 outlook with low-single-digit growth targets and continued focus on efficiency and credit discipline.Company Guidance
New Brand Signings and Product Launches
Signed seven major new brand partners in 2025 (including Bed Bath & Beyond, Furniture First, Raymour & Flanigan) and launched relationships such as crypto.com and BreadPay integrations with Cricket Wireless and Vivint, expanding vertical and product reach.
Co-Brand Mix Expansion
Co-brand comprised 52% of credit sales in Q4 2025, up from 48% in 2024, reflecting increased partner-driven sales and product diversification.
Direct-to-Consumer Deposit Growth and Funding Mix
Direct-to-consumer deposit balances increased 11% year over year, grew for the 20th consecutive quarter, and comprised 48% of Q4 average total funding (up from 43% a year ago), lowering funding costs and increasing funding stability.
Capital Returned and Capital Optimization
Returned $350 million of capital to shareholders in 2025, including $310 million of share repurchases (repurchasing 12% of year-end 2024 shares) and a 10% increase in the quarterly dividend; issued $75 million of preferred shares to strengthen Tier 1 capital.
Debt Refinancing and Rating Upgrades
Issued a $500 million senior note at 6.75% and fully paid down a $900 million 9.75% note, reducing the rate by ~300 basis points and shrinking the note size by $400 million; received credit rating upgrades from Moody's and Fitch and positive outlooks from Moody's and S&P.
Improved Credit Metrics
Full-year net loss rate improved to 7.7% (better than outlook); Q4 net loss rate 7.4%, down 60 basis points year over year; Q4 delinquency rate 5.8%, down 10 basis points year over year and 20 basis points sequentially; reserve rate improved 70 basis points year over year to 11.2%.
Earnings and EPS (Adjusted)
Q4 adjusted net income was $95 million with adjusted diluted EPS of $2.07; net income available to common stockholders was $53 million excluding a $42 million post-tax charge related to debt repurchases.
Tangible Book Value and Returns
Tangible book value per common share grew 23% year over year to $57.57; return on average tangible common equity was 8% for the quarter and 20% for the full year.
Revenue, NII and NIM Momentum
Full-year credit sales grew 3% to $27.8 billion; Q4 credit sales increased 2% year over year; Q4 total net interest income increased 6% year over year and net interest margin improved to 18.9% versus prior year.
Operational Efficiency and Technology Progress
Delivered positive operating leverage with adjusted noninterest expenses down (adjusted total noninterest expenses decreased $29 million or 1% for the year; Q4 adjusted noninterest expense down 5% excluding debt repurchase impacts) and continued progress on cloud migration, automation and AI adoption.
Strong Liquidity and Capital Ratios
Total liquid assets and undrawn credit facilities of $66 billion (26.4% of assets); deposits comprised 78% of funding; CET1 ratio of 13% (up 60 basis points year over year) and total loss absorption capacity at 24.7% of total loans.
2026 Growth and Profitability Outlook
Management expects 2026 average loans and total revenue to be up low single digits, full-year net loss rate in the 7.2%–7.4% range, NIM near to slightly above 2025 on baseline assumptions, and a path toward mid-20% ROTC in coming years.
BFH Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
BFH Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Oct 23, 2025 | $60.32 | $65.22 | +8.12% |
Jul 24, 2025 | $63.74 | $60.56 | -4.99% |
Apr 24, 2025 | $47.33 | $48.35 | +2.16% |
Jan 30, 2025 | $62.71 | $62.77 | +0.10% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Bread Financial Holdings (BFH) report earnings?
Bread Financial Holdings (BFH) is schdueled to report earning on Apr 23, 2026, Before Open (Confirmed).
What is Bread Financial Holdings (BFH) earnings time?
Bread Financial Holdings (BFH) earnings time is at Apr 23, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BFH EPS forecast?
BFH EPS forecast for the fiscal quarter 2026 (Q1) is 2.86.