BREAD FINANCIAL HOLDINGS, INC. (BFH) Form 10-Q — Oct 26, 2026
Bread Financial (BFH) reported Q3 2026 net income of $156 million ($3.82 diluted EPS) on total net interest and non-interest income of $1,017 million, up 5% year-over-year. Credit sales grew 9% to $7.4 billion and end-of-period loans rose 7% to $18.9 billion, while the net principal loss rate improved to 6.40% from 7.39% and the delinquency rate fell to 5.57% from 6.04%. Nine-month diluted EPS rose 20% to $11.54, and management raised its full-year 2026 outlook: average loans up ~4%, revenue up ~5%, and a net principal loss rate below 7%, with positive operating leverage expected. Consumer deposits grew 21% to $9.9 billion and now represent 53% of total funding.
Key figures
- Eps
- 3.82
- Eps Beat
- 0
- Revenue
- $1,017 million Q3 2026 (total net interest and non-interest income, +5% YoY); $3,027 million nine months
- Guidance
- 2026 average loans up ~4%, total net interest and non-interest income up ~5%, full year net principal loss rate below 7%, positive operating leverage, normalized effective tax rate 25%-27%
- Net Income
- $156 million Q3 2026; $483 million nine months
- Total Debt
- $814 million long-term and other debt
- Revenue Yoy
- 5
- Total Assets
- 23291
- Cash Position
- $3,961 million cash and equivalents
- Cet1 ratio
- 13.1% vs 14.0%
- Reserve rate
- 11.12%
- Average loans
- $18.6 billion, up 6%
- Credit sales q3
- $7.4 billion, up 9% YoY
- Delinquency rate
- 5.57% vs 6.04%
- Consumer deposits
- $9.9 billion, up 21%
- End of period loans
- $18.9 billion, up 7%
- Net interest margin
- 18.89% vs 18.81%
- Shares repurchased q3
- 0.7 million shares for $75 million
- Net principal loss rate
- 6.40% vs 7.39%
- Dividend per common share
- $0.23 (raised to $0.25 declared October 22, 2026)
- Tangible book value per share
- $66.95, up 19%
- Remaining buyback authorization
- $374 million
AI analysis
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