📈 Price History

Ratio Health

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— Good

— Average

— Poor

By Category

📊 Sector Averages

About

Bread Financial Holdings, Inc. provides tech-forward payment and lending solutions to customers and consumer-based industries in North America.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ↑ Improving 4 quarters analysed

Q2 2025

Mixed

Management expresses confidence in Q2 results and improving credit metrics, while repeatedly cautioning about macroeconomic uncertainty, trade policies, and potential impacts on consumer behavior. Phrases like 'encouraged', 'strong results', and 'confident' are balanced with 'uncertainty', 'watchful', and 'cautious'.

Q3 2025

Confident Specific

Management highlighted strong financial results (net income $188M, ROATCE 28.6%), provided specific full-year guidance (net loss rate at low end of 7.8-7.9%, flat revenue outlook), and expressed confidence in achieving targets, while also acknowledging macroeconomic uncertainties and vigilant monitoring.

Q4 2025

Confident Specific

Management uses specific numbers and guidance throughout, e.g., 'strong fourth quarter and full-year 2025 results in line with our expectations', 'credit metrics continued to improve', 'we are nearing an inflection point for loan growth'. The tone is upbeat and forward-looking.

Q1 2026 latest

Confident Specific

Management highlighted strong Q1 results with concrete numbers (net income $181M, revenue growth 5%, tangible book value up 26%), but expressed caution on macro uncertainty and fuel price impacts, using phrases like 'cautiously optimistic' shifting to 'more cautious'.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call. Management delivered on key metrics (loan growth inflection, credit improvement, strong capital returns) and reaffirmed 2026 guidance. However, caution is warranted as macro uncertainty (trade policy, fuel prices) could pressure the consumer. Key to watch next quarter: (1) whether loan growth accelerates as guided, (2) the pace of credit improvement toward the 6% loss target, (3) the cadence of share repurchases given potential preferred issuance, and (4) any signs of consumer weakening from fuel cost pass-through. The PPNR growth and ROTCE trajectory towards mid-20% target remain positive signals.

AI-generated concall tone analysis · Updated 2026-06-08 · Not investment advice

🎙 Management Tone Confident Specific ↑ Improving 4 quarters Full tone analysis in Intelligence →

📊 MIXED Bread Financial Q1 2026 net income $181M, revenue up 5%, loan growth turns positive.

Revenue & Profitability

First quarter 2026 net income was $181 million, with diluted EPS of $4.15. Revenue increased 5% year-over-year to $48 million (likely incremental, but total revenue not stated explicitly; growth driven by pricing changes and lower interest expense). Total net interest income grew 6% YoY. Non-interest expenses decreased $5 million (-1% YoY). Pre-provision net revenue (PPNR) increased $53 million (+11% YoY).

Outlook

Management sees a resilient consumer supported by full employment and wage growth outpacing inflation, but notes low consumer sentiment and confidence due to higher fuel costs and trade policy uncertainty. They expect inflation above the Fed's 2% target and a generally stable labor market. Caution elevated due to potential downstream impacts of oil prices on goods and services.

Growth Drivers

Growth is driven by credit sales growth (+7% YoY), successful new partner launches (Ford, Ethan Allen, Academy Sports + Outdoors), and expansion of Bread Pay installment loans. Verticals showing strength include health & beauty, jewelry, travel/entertainment, and home. Returning to positive loan growth after inflection in Q1 2026.

Balance Sheet & CapEx

The company continues to invest in digital and technology advancements, including AI deployment across the enterprise to increase productivity, efficiency, innovation, and strengthen risk management. No specific CapEx guidance or dollar amounts were provided.

Margins

Net interest margin in Q1 2026 was 19.3%, up YoY and sequentially, benefiting from pricing changes and improving funding costs. Full-year NIM expected higher than 2025 but incremental benefits from pricing slowing. Positive operating leverage expected in 2026 (excluding debt repurchase impacts). Q2 total expenses estimated just under $500 million, up sequentially.

Key Risks

Risks include macroeconomic uncertainty (trade policy, global conflicts), inflation, higher fuel costs impacting consumer spending, and potential downstream price increases on goods and services. Lower consumer sentiment and confidence, potential changes in unemployment, and the impact of elevated oil prices are monitored closely. Higher payment rates and improving delinquency trends could pressure late fee revenue.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-07-23

Q2 saw robust loan and deposit growth, 7% revenue increase, and improved credit metrics, with net income of $146M and EPS of $3.55. Guidance for 2026 was raised for loan and revenue growth, and net loss rate guidance improved. Capital optimization and AI investments continue to support long-term targets.

Q1 2026 Q1 2026 2026-04-23

First-quarter 2026 saw 7% credit sales growth, 5% revenue growth, and improved credit metrics, with new partnerships and strong capital generation. Guidance for 2026 is reaffirmed, expecting low single-digit loan and revenue growth, higher NIM, and continued credit improvement.

Q4 2025 Q4 2025 2026-01-29

Strong Q4 and full-year 2025 results were driven by new partnerships, disciplined credit management, and technology investments. 2026 guidance calls for low single-digit loan and revenue growth, stable to improving credit metrics, and continued capital returns to shareholders.

Q3 2025 Q3 2025 2025-10-23

Q3 2025 saw strong net income, improved credit metrics, and robust capital returns, with credit sales up 5% year-over-year and a CET1 ratio at 14%. Guidance remains positive, with expectations to hit the low end of net loss rate targets and continued investment in technology and growth.

Q2 2025 Q2 2025 2025-07-24

Q2 2025 saw strong adjusted net income, robust credit sales growth, and improved credit metrics, with updated net loss rate guidance reflecting better performance. Capital and liquidity remain strong, with top partners secured and new product launches supporting future growth.

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