Bread Financial Provides Performance Update for February 2026
Rhea-AI Summary
Bread Financial (NYSE: BFH) provided a February 2026 performance update with portfolio and credit-quality metrics. End-of-period loans were $18,081 million and average loans were $18,275 million. Net principal losses were $108 million and the net principal loss rate fell to 7.7% from 8.6% a year earlier. Delinquencies improved: 30+ day delinquencies were $939 million and the delinquency rate declined to 5.8% from 6.2% year-over-year.
Positive
- Net principal loss rate down 0.9 percentage points to 7.7%
- Delinquency rate improved 0.4 percentage points to 5.8%
- End-of-period credit card loans of $18,081 million signify portfolio stability
Negative
- None.
Key Figures
Market Reality Check
Peers on Argus
Peers show mixed moves: ENVA up 0.43%, SEZL down 4.91%, LU down 1.24%, QFIN down 0.82%, WU flat. This points to stock-specific factors for BFH.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Mar 04 | Conference participation | Neutral | +3.3% | Announcement of participation in the RBC 2026 Financial Institutions Conference. |
| Feb 26 | Share repurchase increase | Positive | +8.3% | Board approved a $600M increase, taking buyback authorization to $765M. |
| Feb 10 | Monthly performance update | Positive | -1.0% | January 2026 update showed slightly higher loans and improved loss and delinquency metrics. |
| Feb 04 | Conference participation | Neutral | +1.5% | Planned participation in UBS Financial Services Conference with webcast access. |
| Feb 03 | Conference participation | Neutral | +3.2% | Planned fireside chat at Bank of America 2026 Financial Services Conference. |
BFH has generally seen positive price reactions to conferences and capital return news, while monthly performance updates have shown at least one divergence between improving metrics and share performance.
Over the past months, BFH has highlighted conferences, capital return actions, and operating updates. A $600 million increase in share repurchase authorization on Feb 26, 2026 coincided with a +8.31% move. Multiple conference appearances in early February saw modest positive reactions. A January 2026 performance update showing improved credit metrics led to a -1.01% move, indicating that operating improvements have not always translated into immediate price strength. Today’s February 2026 credit update follows that pattern of frequent operating disclosures.
Regulatory & Risk Context
BFH has an effective automatic shelf registration on Form S-3ASR filed on Nov 17, 2025, allowing it to offer preferred stock and related depositary shares from time to time for general corporate purposes.
Market Pulse Summary
This announcement provides a February 2026 performance snapshot, highlighting modest loan growth and better credit quality. End-of-period loans were $18,081M, while net principal losses fell to $108M with a 7.7% loss rate versus 8.6% a year earlier. Delinquencies improved, with a 5.8% rate and $939M of 30+ day balances. In recent months, BFH has regularly shared similar updates alongside capital return actions and conference participation, giving investors frequent operating visibility but also creating ongoing sensitivity to changes in credit trends.
Key Terms
net principal loss rate financial
delinquency rate financial
30 days + delinquencies – principal financial
AI-generated analysis. Not financial advice.
COLUMBUS, Ohio, March 11, 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 February 28, 2026 | For the month ended February 28, 2025 | ||||||
| (dollars in millions) | |||||||
| End-of-period credit card and other loans | $ | 18,081 | $ | 17,949 | |||
| Average credit card and other loans | $ | 18,275 | $ | 18,141 | |||
| Year-over-year change in average credit card and other loans | 1 | % | (2 | %) | |||
| Net principal losses | $ | 108 | $ | 120 | |||
| Net principal loss rate | 7.7 | % | 8.6 | % | |||
| As of February 28, 2026 | As of February 28, 2025 | ||||||
| (dollars in millions) | |||||||
| 30 days + delinquencies – principal | $ | 939 | $ | 1,027 | |||
| Period ended credit card and other loans – principal | $ | 16,091 | $ | 16,506 | |||
| Delinquency rate | 5.8 | % | 6.2 | % | |||
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, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers.
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 and public health 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 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.
Contacts
Brian Vereb — Investor Relations
Brian.Vereb@breadfinancial.com
Susan Haugen — Investor Relations
Susan.Haugen@breadfinancial.com
Rachel Stultz — Media
Rachel.Stultz@breadfinancial.com
FAQ
What was Bread Financial's net principal loss rate for February 2026 (BFH)?
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Did Bread Financial report a material change in credit losses for February 2026 (BFH)?
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