Earnings ·
Reports Q3 net income of $156 million and raises common stock dividend to $0.25 per share
BFHBread Financial Holdings, Inc.
Bread Financial Holdings reported third-quarter net income of $156 million, a 17% decline from the prior year period which included a $38 million favorable discrete tax item. Pretax pre-provision earnings rose 7% to $530 million, driven by 9% growth in credit sales and strong loan portfolio expansion. The company improved its full-year net loss rate outlook to below 7%, citing better-than-expected delinquency trends. Additionally, the Board declared a quarterly common stock dividend of $0.25 per share, representing a 9% increase from the previous quarter's payout. Bread Financial is a tech-forward financial services company providing payment, lending, and saving solutions to U.S. consumers.