Bread Financial Holdings, Inc. Stock Price, News & Analysis

Bread Financial (NYSE: BFH), a tech-forward financial services company, reported its performance update for July 2024.

As of July 31, 2024, the company's credit card and other loans at month-end were $17,659 million, down from $17,963 million the previous year. Average credit card and other loans stood at $17,588 million, showing no year-over-year change.

The net principal losses increased to $120 million from $108 million, resulting in a net loss rate of 8.0%, up from 7.4%. Delinquency rates also rose, with 30+ days delinquencies at $1,004 million (6.2%) compared to $956 million (5.7%) the previous year.

The rise in net principal losses and delinquency rates may concern investors, reflecting potential risks in Bread Financial's credit portfolio.

Bread Financial Holdings, Inc. (NYSE: BFH) has announced a partial repurchase of its 4.25% Convertible Senior Notes due 2028. The company has entered into privately negotiated agreements to repurchase $237.6 million aggregate principal amount of the Notes for an approximate cash price of $350.0 million. The final price is subject to adjustment based on the daily volume-weighted average price of BFH's common stock over an agreed measurement period starting August 9, 2024.

The repurchases are expected to close before the end of the current fiscal quarter. After the transaction, $78.6 million principal amount of Notes will remain outstanding from an initial balance of $316.25 million. The company's previously established capped call transactions related to the Notes issuance will remain in effect.

Bread Financial Holdings (NYSE: BFH) has released its performance update for June 2024. The company, which specializes in payment, lending, and saving solutions, reported key metrics for its credit card and other loan portfolios. As of June 30, 2024, the end-of-period credit card and other loans stood at $17,743 million. The average credit card and other loans showed a 1% year-over-year increase for both the month and three months ended June 30, 2024.

The net loss rate for June 2024 was 8.4%, with net principal losses of $122 million. For the three-month period, the net loss rate was slightly higher at 8.6%. The delinquency rate as of June 30, 2024, increased to 6.0% from 5.5% a year earlier, with 30 days+ delinquencies reaching $979 million.

Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company, has released its second quarter 2024 financial results. The company, which specializes in payment, lending, and saving solutions, has made all earnings-related materials available on its investor relations website. President and CEO Ralph Andretta and CFO Perry Beberman will host a conference call at 8:30 a.m. ET to discuss the results. Investors can access the call link and a replay of the discussion on the company's investor relations website.

Bread Financial Holdings (NYSE: BFH), a tech-forward financial services company, has announced a quarterly cash dividend of $0.21 per share on its common stock. The dividend will be payable on September 13, 2024 to stockholders of record at the close of business on August 9, 2024. Bread Financial specializes in providing simple, flexible payment, lending, and saving solutions. This dividend declaration demonstrates the company's commitment to returning value to its shareholders and may indicate confidence in its financial stability and future prospects.

Bread Financial, a tech-forward financial services company, has announced a $1 million donation to the Women's Sports Foundation (WSF) in celebration of the Foundation's 50th anniversary. The gift will support WSF's strategic growth initiatives, research, and advocacy efforts to advance gender equity in sports.

The donation will fund various activities, including:

• Evidence-based research, such as the 2026 Winter Olympic and Paralympic Games analysis
• Support for National Girls & Women in Sports Day (NGWSD)
• Funding for the Annual Salute to Women in Sports fundraising event

Bread Financial's CEO, Ralph Andretta, emphasized the company's commitment to diversity, equity, and inclusion, stating that supporting girls and women in sports contributes to a more equitable society.

Bread Financial Holdings (NYSE: BFH) will host a conference call on July 25, 2024, at 8:30 a.m. ET to discuss its second-quarter 2024 results. This tech-forward financial services company offers flexible payment, lending, and saving solutions. Interested participants and analysts can register in advance on the company's investor relations website. The call will be accompanied by several slides, and the webcast will be archived for later access.

Bread Financial Holdings (NYSE: BFH) released its performance update for May 2024. The company reported an end-of-period credit card and other loans amounting to $17.847 billion, slightly down from $18.078 billion in May 2023.

The average credit card and other loans for May 2024 were $17.846 billion, a 1% increase from $17.666 billion in May 2023. Bread Financial's net principal losses stood at $133 million, up from $124 million in the same period the previous year, leading to a net loss rate of 8.8% compared to 8.4% in May 2023.

As of May 31, 2024, the company recorded 30-day delinquencies of $976 million, an increase from $932 million in May 2023. This resulted in a delinquency rate of 5.9%, up from 5.5% in the previous year. The period-end loans amounted to $16.446 billion, a decrease from $16.845 billion in May 2023.

Bread Financial (NYSE: BFH) has signed a long-term agreement with Saks Fifth Avenue to provide a dual credit card program, including co-branded and private label credit cards, effective August 2024. The agreement involves transitioning the existing Saks Fifth Avenue credit card portfolio to Bread Financial's Comenity Capital Bank. Cardmembers will earn two to six points per dollar spent at Saks Fifth Avenue and Saks OFF 5TH locations, with additional rewards for Saks World Elite Mastercard users. Bread Financial will leverage its Enhanced Digital Suite for personalized customer engagement and seamless account acquisition, supporting Saks with targeted marketing campaigns.