Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward
financial services company that provides simple, personalized
payment, lending and saving solutions, provided a performance
update. The following tables present the Company’s net loss rate
and delinquency rate for the periods indicated.
For the month ended
June 30, 2023
For the three months
ended June 30, 2023
(dollars in millions)
End-of-period credit card and other
loans
$
17,962
$
17,962
Average credit card and other loans
$
17,623
$
17,652
Year-over-year change in average credit
card and other loans
2
%
4
%
Net principal losses(1)
$
113
$
351
Net loss rate(1)
7.7
%
8.0
%
As of June 30,
2023
As of June 30,
2022
(dollars in millions)
30 days + delinquencies – principal
$
926
$
737
Period ended credit card and other loans –
principal
$
16,728
$
16,825
Delinquency rate
5.5
%
4.4
%
________________________________________________ (1)
As previously communicated, the month and
three months ended June 30, 2023 Net principal losses and Net loss
rate were impacted by the transition of our credit card processing
services.
About Bread Financial™
Bread Financial™ (NYSE: BFH) is a tech-forward financial
services company providing simple, personalized payment, lending
and saving solutions. The company creates opportunities for its
customers and partners through digitally enabled choices that offer
ease, empowerment, financial flexibility and exceptional customer
experiences. Driven by a digital-first approach, data insights and
white-label technology, Bread Financial delivers growth for its
partners through a comprehensive suite of payment solutions that
includes private label and co-brand credit cards and Bread
Pay™ buy now, pay later products. Bread Financial also offers
direct-to-consumer products that give customers more access, choice
and freedom through its branded Bread Cashback™ American
Express® Credit Card and Bread Savings™ products.
Headquartered in Columbus, Ohio, Bread Financial is powered by
its 7,500+ global associates and is committed to sustainable
business practices. To learn more about Bread Financial, visit
BreadFinancial.com or follow us on Facebook,
LinkedIn, Twitter and Instagram.
Forward-Looking Statements
This release contains forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Forward-looking
statements give our expectations or forecasts of future events and
can generally be identified by the use of words such as “believe,”
“expect,” “anticipate,” “estimate,” “intend,” “project,” “plan,”
“likely,” “may,” “should” or other words or phrases of similar
import. Similarly, statements that describe our business strategy,
outlook, objectives, plans, intentions or goals also are
forward-looking statements. Examples of forward-looking statements
include, but are not limited to, statements we make regarding, and
the guidance we give with respect to, our anticipated operating or
financial results, future financial performance and outlook, future
dividend declarations, and future economic conditions.
We believe that our expectations are based on reasonable
assumptions. Forward-looking statements, however, are subject to a
number of risks and uncertainties that are difficult to predict
and, in many cases, beyond our control. Accordingly, our actual
results could differ materially from the projections, anticipated
results or other expectations expressed in this release, and no
assurances can be given that our expectations will prove to have
been correct. Factors that could cause the outcomes to differ
materially include, but are not limited to, the following:
macroeconomic conditions, including market conditions, inflation,
rising interest rates, unemployment levels and the increased
probability of a recession, and the related impact on consumer
payment rates, savings rates and other behavior; global political
and public health events and conditions, including the ongoing war
in Ukraine and the continuing effects of the global COVID-19
pandemic; future credit performance, including the level of future
delinquency and write-off rates; the loss of, or reduction in
demand from, significant brand partners or customers in the highly
competitive markets in which we compete; the concentration of our
business in U.S. consumer credit; inaccuracies in the models and
estimates on which we rely, including the amount of our Allowance
for credit losses and our credit risk management models; the
inability to realize the intended benefits of acquisitions,
dispositions and other strategic initiatives; our level of
indebtedness and ability to access financial or capital markets;
pending and future legislation, regulation, supervisory guidance,
and regulatory and legal actions, including, but not limited to,
those related to financial regulatory reform and consumer financial
services practices, as well as any such actions with respect to
late fees, interchange fees or other charges; impacts arising from
or relating to the transition of our credit card processing
services to third party service providers that we completed in
2022; failures or breaches in our operational or security systems,
including as a result of cyberattacks, unanticipated impacts from
technology modernization projects or otherwise; and any tax
liability, disputes or other adverse impacts arising out of or
relating to the spinoff of our former LoyaltyOne segment or the
recent bankruptcy filings of Loyalty Ventures Inc. and certain of
its subsidiaries. The foregoing factors, along with other risks and
uncertainties that could cause actual results to differ materially
from those expressed or implied in forward-looking statements, are
described in greater detail under the headings “Risk Factors” and
“Management’s Discussion and Analysis of Financial Condition and
Results of Operations” in our Annual Report on Form 10-K for the
most recently ended fiscal year, which may be updated in Item 1A
of, or elsewhere in, our Quarterly Reports on Form 10-Q filed for
periods subsequent to such Form 10-K. Our forward-looking
statements speak only as of the date made, and we undertake no
obligation, other than as required by applicable law, to update or
revise any forward-looking statements, whether as a result of new
information, subsequent events, anticipated or unanticipated
circumstances or otherwise.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230727479980/en/
Brian Vereb — Investor Relations
Brian.Vereb@breadfinancial.com
Susan Haugen — Investor Relations
Susan.Haugen@breadfinancial.com
Rachel Stultz — Media Rachel.Stultz@breadfinancial.com
Bread Financial (NYSE:BFH)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024
Bread Financial (NYSE:BFH)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024