Bread Financial Provides Performance Update for April 2026
Rhea-AI Summary
Bread Financial (NYSE: BFH) reported April 2026 credit performance metrics. Average credit card and other loans were $18.1 billion, up 2.0% year over year, with end-of-period loans at $18.1 billion.
Net principal losses were $105 million versus $114 million a year earlier, for a 7.09% net principal loss rate compared with 7.85% in April 2025. The delinquency rate improved to 5.34% on $859 million of 30+ day delinquencies, versus 5.73% on $933 million in April 2025.
AI-generated analysis. Not financial advice.
Positive
- Average credit card and other loans up 2.0% year over year to $18.1 billion
- End-of-period credit card and other loans increased to $18.1 billion from $17.7 billion
- Net principal losses declined to $105 million from $114 million year over year
- Net principal loss rate improved to 7.09% from 7.85% year over year
- 30+ day delinquencies fell to $859 million from $933 million year over year
- Delinquency rate decreased to 5.34% from 5.73% year over year
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
BFH showed a 4.13% gain against mixed peers: ENVA up 0.89% while SEZL, LU, WU and QFIN declined (down to -5.07%), pointing to a stock-specific move rather than a sector rotation.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| May 05 | Preferred offering pricing | Neutral | +3.8% | Pricing of Series B preferred depositary share offering with stated net proceeds. |
| May 05 | Preferred offering launch | Neutral | +1.8% | Launch of underwritten public offering of Series B preferred depositary shares. |
| Apr 23 | March performance update | Positive | -0.3% | March portfolio metrics showing modest loan growth and slightly lower delinquency rate. |
| Apr 23 | Q1 2026 earnings | Positive | -0.3% | Release of first quarter 2026 financial results and earnings materials. |
| Apr 23 | Dividend declaration | Positive | -0.3% | Declaration of quarterly cash dividends on common and preferred stock for Q2 2026. |
Recent updates, offerings, and dividends have all produced relatively modest single-day price reactions, suggesting measured responses to both capital actions and operating updates.
Over the past few months, BFH has combined routine performance updates with capital and capital-returns activity. In April 2026, it reported Q1 results alongside a March performance update and dividend declarations. In early May 2026, it launched and priced a Series B preferred stock depositary share offering. These events, with single-day moves mostly within a few percent, frame today’s April 2026 credit metrics as part of an ongoing cadence of operational and balance sheet disclosures.
Regulatory & Risk Context
BFH has an effective automatic shelf registration on Form S-3ASR filed on 2025-11-17, allowing it to issue preferred stock and related depositary shares in multiple series for general corporate purposes. The shelf has been used in at least 2 recent 424B5 takedowns, providing flexibility for future capital raising.
Market Pulse Summary
This announcement details April 2026 credit performance, highlighting end-of-period loans of $18,123M, a net principal loss rate of 7.09%, and a delinquency rate of 5.34%. These follow earlier monthly updates and Q1 2026 results that showed improving credit trends. Investors may compare these figures against prior months and the company’s stated full-year net principal loss rate outlook, while also monitoring ongoing capital actions under its effective S-3ASR shelf and recent preferred stock offering.
Key Terms
net principal loss rate financial
delinquency rate financial
federal emergency management agency regulatory
AI-generated analysis. Not financial advice.
COLUMBUS, Ohio, May 15, 2026 (GLOBE NEWSWIRE) -- Bread Financial Holdings, Inc. (NYSE: BFH), a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers, provided a performance update. The following tables present the Company’s Net principal loss rate and Delinquency rate for the periods indicated:
| For the month ended April 30, 2026 | For the month ended April 30, 2025 | ||||||
| (dollars in millions) | |||||||
| End-of-period credit card and other loans | $ | 18,123 | $ | 17,721 | |||
| Average credit card and other loans | $ | 18,067 | $ | 17,712 | |||
| Year-over-year change in average credit card and other loans | 2.0 | % | (1.6 | %) | |||
| Net principal losses (1) | $ | 105 | $ | 114 | |||
| Net principal loss rate (1) | 7.09 | % | 7.85 | % | |||
| As of April 30, 2026 | As of April 30, 2025 | ||||||
| (dollars in millions) | |||||||
| 30 days + delinquencies – principal | $ | 859 | $ | 933 | |||
| Period ended credit card and other loans – principal | $ | 16,087 | $ | 16,264 | |||
| Delinquency rate | 5.34 | % | 5.73 | % | |||
___________________________
| (1) | As a result of hurricanes Helene and Milton in September and October 2024, we froze delinquency progression in the fourth quarter of 2024 for cardholders in Federal Emergency Management Agency identified impact zones for one billing cycle, which resulted in modestly lower Net principal losses and Net loss rate in the fourth quarter of 2024, and consequently these actions negatively impacted Net principal losses and Net loss rate in the second quarter of 2025. |
About Bread Financial®
Bread Financial® (NYSE: BFH) is a tech-forward financial services company that provides simple, personalized payment, lending and saving solutions to millions of U.S. consumers. Our payment solutions deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, technology, electronics, jewelry, home and specialty apparel through our co-brand and private label credit cards and pay-over-time products providing choice and value to our shared customers. Additionally, we offer Bread Financial general purpose credit cards and saving products that empower our customers and their passions for a better life.
Bread Financial proudly marks 30 years of success in 2026. To learn more about our global associates, our performance and our sustainability progress, visit breadfinancial.com or follow us on Instagram and LinkedIn.
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, interest rates, labor market conditions, recessionary pressures or concerns over a prolonged economic slowdown, and the related impact on consumer spending behavior, payments, debt levels, savings rates and other behaviors; global political events and conditions, including significant shifts in trade policy, such as changes to, or the imposition of, tariffs and/or trade barriers and consequently any economic impacts, volatility, uncertainty and geopolitical instability resulting therefrom, as well as ongoing wars and military conflicts, and international tensions or hostilities; local or global public health issues, climate-related events, impacts to the power grid, and natural disasters; future credit performance, including the level of future delinquency and charge-off rates; loss of, or reduction in demand for services and/or products from, significant brand partners or customers in the highly competitive markets in which we operate, including competition from new and non-traditional competitors, such as financial technology companies, and with respect to new products, services and technologies, such as the emergence or increase in popularity of agentic commerce, digital payment platforms and currencies and other alternative payment and deposit solutions; the concentration of our business in U.S. consumer credit; inaccuracies in the models and estimates on which we rely, including our credit risk management models and the amount of our Allowance for credit losses; 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 federal and state legislation, executive action, 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 that would place limits on credit card interest rates or late fees, interchange fees or other charges; 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 liability or other adverse impacts arising out of or related to the spinoff of our former LoyaltyOne segment or the bankruptcy filings of Loyalty Ventures Inc. (LVI) and certain of its subsidiaries, including the pending litigation against us in connection with the spinoff. 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.
Contact:
Brian Vereb — Investor Relations
Brian.Vereb@breadfinancial.com
Susan Haugen — Investor Relations
Susan.Haugen@breadfinancial.com
Rachel Stultz — Media
Rachel.Stultz@breadfinancial.com
