Every 10-Q that Bread Financial Holdings, Inc. (BFH) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow BFH and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full BFH filings page.
Bread Financial Holdings, Inc. reported third-quarter 2026 total net interest and non-interest income of $1.017 billion, up 5% year over year, while net income declined 17% to $156 million from $188 million. Credit sales rose 9% to $7.424 billion, and average credit card and other loans increased 6% to $18.591 billion. Provision for credit losses increased 7% to $321 million.
As of September 30, 2026, consumer deposits were $9.9 billion, up 21% year over year. The delinquency rate was 5.57%, versus 6.04%, and the quarterly net principal loss rate was 6.40%, versus 7.39%. Bread repurchased 0.7 million shares for $75 million during the quarter, with $374 million of authorization remaining as of September 30, 2026. Comenity Bank's merger into Comenity Capital Bank was completed on October 1, 2026; the company does not expect a significant impact on its consolidated financial position, results of operations, or liquidity.
For 2026, Bread expects average loans to be up approximately 4% and total net interest and non-interest income to be up approximately 5% from full-year 2025. Its outlook assumes a full-year net principal loss rate below 7%; it also anticipates net interest margin slightly above 2025 and positive operating leverage excluding pretax impacts from debt repurchases.
Bread Financial Holdings reported stronger Q2 2026 results, with total net interest and non-interest income of $993 million, up 7% year over year. Provision for credit losses rose to $313 million, but net income grew to $146 million and diluted EPS increased to $3.55 from $2.94. Net interest margin expanded to 18.49% from 17.71% as loan yields benefited from prior pricing actions and lower funding costs.
Credit sales reached $7.5 billion, up 11%, with average credit card and other loans at $18.2 billion, up 3%. Asset quality improved: the net principal loss rate fell to 6.98% from 7.88%, and the reserve rate declined to 11.23% from 11.89%. Direct-to-consumer deposits grew 16% to $9.36 billion, now about half of total funding. The company issued $135 million of 8.875% Series B preferred stock and repurchased 2.8 million common shares for $241 million, leaving $449 million under its authorization. The consolidated CET1 capital ratio was 12.9%.
For 2026, management now expects average credit card and other loans and total net interest and non-interest income to grow low- to mid-single digits versus 2025, net interest margin to be flat to slightly higher, and to deliver positive operating leverage excluding debt repurchase impacts. The outlook assumes a full-year net principal loss rate of 7.0%–7.1% and a normalized effective tax rate of 25%–27%.
Bread Financial Holdings reported stronger results for the first quarter of 2026, with net income rising to $181 million from $138 million a year earlier and diluted EPS increasing to $4.15 from $2.78. Total net interest and non-interest income grew 5% to $1.02 billion as credit sales increased 7% to $6.5 billion and average credit card and other loans edged up to $18.3 billion.
Net interest margin expanded to 19.25% from 18.06% as loan yields benefited from prior pricing actions and lower funding costs, while non-interest income declined $13 million due to higher brand partner share arrangements. The provision for credit losses rose slightly to $303 million, but the net principal loss rate improved to 7.33% from 8.16%, and the reserve rate fell to 11.46% from 12.19%, reflecting better credit performance.
The company continued to return capital, repurchasing $150 million of common stock and retiring another 1.5 million shares via capped call terminations, while also buying back $50 million of subordinated notes. Common equity tier 1 capital ratio improved to 13.3%, tangible book value per share increased 26% year-over-year to $61.57, and direct-to-consumer deposits grew 10% to $8.7 billion. Management reaffirmed its 2026 outlook for low single-digit loan and revenue growth, higher full-year net interest margin, positive operating leverage excluding debt repurchase impacts, and a full-year net principal loss rate of 7.2% to 7.4%.
Bread Financial (BFH) reported Q3 2025 results showing stronger profitability on lower credit costs and tighter expenses. Total net interest and non‑interest income was $971 million (down 1% year over year), while Provision for credit losses fell to $299 million. Net income rose to $188 million, and diluted EPS reached $3.96.
Credit sales were $6.8 billion, up 5%, but average loans slipped 1% to $17.6 billion as payment rates increased. Net interest margin held at 18.8% and improved sequentially. Non‑interest expenses declined 17% to $476 million, reflecting the absence of prior‑year debt repurchase impacts and continued cost discipline.
Capital and funding remained solid: CET1 was 14.0% and direct‑to‑consumer deposits rose 9% to $8.2 billion. The company repurchased 0.6 million shares for $40 million in the quarter, part of 3.8 million year‑to‑date. Management’s 2025 outlook calls for a full‑year net principal loss rate of 7.8% to 7.9% and an effective tax rate of 19% to 20%.