Bread Financial™ releases July 2024 earnings update

COLUMBUS, Ohio, Aug. 15, 2024 (GLOBE NEWSWIRE) — Bread Financial Holdings, Inc. (NYSE: BFH), a technology-driven financial services company that provides simple, personalized payment, lending and savings solutions, today provided an earnings update. The tables below show the company’s net loss ratio and delinquency rate for the periods indicated.

About Bread Financial™
Bread Financial™ (NYSE: BFH) is a technology-driven financial services company that offers simple, personalized payment, lending and savings 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 analytics and white-label technology, Bread Financial enables its partners to grow with a comprehensive set of payment solutions that includes private and co-branded credit cards and Bread Pay™ buy now, pay later products. Bread Financial also offers direct-to-consumer products that provide customers with greater 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 approximately 7,000 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/X and Instagram .

Forecast statements

This press 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 represent 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 meaning. Similarly, statements describing our business strategy, prospects, objectives, plans, intentions or goals are also forward-looking statements. Examples of forward-looking statements include, but are not limited to, statements we make regarding our anticipated operating or financial results, future financial results and prospects, future dividend declarations and future economic conditions and guidance we provide with respect thereto.

We believe that our expectations are based on reasonable assumptions. However, forward-looking statements are subject to a number of risks and uncertainties that are difficult to predict and in many cases are beyond our control. Accordingly, our actual results could differ materially from the forecasts, expected results or other expectations expressed in this release, and no assurance can be given that our expectations will prove to be correct. Factors that could cause results to differ materially include, but are not limited to, the following: macroeconomic conditions, including market conditions, inflation, higher interest rates, labor market conditions, recessionary pressures or concerns about a prolonged economic slowdown and the related impact on consumer spending, payment behavior, debt levels, savings rates and other behaviors; global political and public health events and conditions, including ongoing wars and armed conflicts; future credit performance, including the level of future delinquencies and charge-off rates; loss or reduction in demand from significant brand partners or customers in the highly competitive markets in which we compete; the concentration of our consumer credit business in the U.S.; 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; our failure to realize the intended benefits of acquisitions, divestitures and other strategic initiatives; our level of indebtedness and ability to access the financial or capital markets; pending and future laws, regulations, supervisory guidance and regulatory and legal actions, including, but not limited to, those related to financial regulatory reform and consumer financial services practices, and any such actions with respect to late payment fees, interchange fees or other fees; effects arising from or related to the transfer of our credit card processing services to third-party service providers, which we completed in 2022; failures or breaches of our operational or security systems, including as a result of cyberattacks, unforeseen effects of technology modernization projects or otherwise; and any tax liabilities, disputes or other adverse effects arising from or related to the spin-off of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. and certain of its subsidiaries. In addition, the Consumer Financial Protection Bureau (CFPB) has issued a final rule that, absent an effective legal challenge, would impose significant restrictions on late fees on credit card payments, which would have a significant effect on our business and results of operations, at least in the short term, and, depending on the effectiveness of mitigating actions we have taken or may take in the future in anticipation of or in response to the final rule, could potentially adversely affect us in the longer term; we cannot provide any assurance as to the effective date of the rule, the outcome of any pending or future challenges or other litigation related to the rule, or our ability to mitigate or offset the impact of the rule on our business and results of operations. These factors, together with other risks and uncertainties that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, are described in more detail in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K for the most recently completed fiscal year, which may be updated on Item 1A 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 on which they are made, and we do not undertake any obligation, except as required by law, to update or revise any forward-looking statements, whether as a result of new information, subsequent events, anticipated or unforeseen circumstances or otherwise.

Communication
Brian Vereb – Investor Relations
[email protected]

Susan Haugen – Investor Relations
[email protected]

Rachel Stultz – Media
[email protected]