--- title: "Bread Financial | 8-K: FY2026 Q2 Revenue: USD 993 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/293601923.md" datetime: "2026-07-23T10:54:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/293601923.md) - [en](https://longbridge.com/en/news/293601923.md) - [zh-HK](https://longbridge.com/zh-HK/news/293601923.md) --- # Bread Financial | 8-K: FY2026 Q2 Revenue: USD 993 M Revenue: As of FY2026 Q2, the actual value is USD 993 M. EPS: As of FY2026 Q2, the actual value is USD 3.55, beating the estimate of USD 2.7415. EBIT: As of FY2026 Q2, the actual value is USD 197 M. ### Dividend Declarations Bread Financial Holdings, Inc. declared a quarterly cash dividend of $21.56 per share for its 8.625% Non-Cumulative Perpetual Preferred Stock, Series A, equivalent to $0.539 per depositary share, payable on September 15, 2026, to stockholders of record as of August 31, 2026. A quarterly cash dividend of $30.32 per share for its 8.875% Fixed Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, equivalent to $0.758 per depositary share, was also declared with the same payment and record dates. Additionally, a quarterly cash dividend of $0.23 per share of common stock was declared, payable on September 15, 2026, to stockholders of record as of August 31, 2026. ### Second Quarter 2026 Financial and Operational Highlights (Compared to Second Quarter 2025) #### Net Income Net income was $146 million, an increase of $7 million, or 5%. #### Revenue Total revenue reached $993 million, marking a 7% increase from $929 million. #### Pretax Pre-Provision Earnings (PPNR) PPNR increased by $62 million, or 14%, to $510 million from $448 million. #### Adjusted PPNR Adjusted PPNR rose by $49 million, or 11%, to $510 million from $461 million. #### Total Non-Interest Expenses Total non-interest expenses were $483 million, nearly flat compared to $481 million, though expenses increased by $15 million, or 3%, excluding the impact from debt repurchases. #### Credit Sales Credit sales totaled $7.5 billion, an increase of $0.7 billion, or 11%. #### Average Loans Average credit card and other loans were $18.2 billion, up 3%. #### End-of-Period Loans End-of-period credit card and other loans increased 5% to $18.5 billion. #### Direct-to-Consumer Deposits End-of-period direct-to-consumer deposits grew 16%, or $1.3 billion, to $9.4 billion. #### Delinquency Rate The delinquency rate decreased 48 basis points to 5.25%. #### Net Loss Rate The net loss rate decreased 90 basis points to 6.98%. #### Common Equity Tier 1 (CET1) Capital Ratio The CET1 ratio was 12.9%, a decrease from 13.0%. #### Book Value Per Common Share Book value per common share increased $13.91, or 21%, to $81.79. #### Tangible Book Value Per Common Share Tangible book value per common share increased $11.45, or 22%, to $63.66. #### Return on Average Equity Return on average equity was 17.1%. #### Return on Average Tangible Common Equity Return on average tangible common equity was 22.6%. #### Preferred Shares Issued Bread Financial Holdings, Inc. issued $135 million of 8.875% preferred shares. #### Common Shares Repurchased The company repurchased 2.8 million shares of common stock for $241 million. #### Net Interest Margin Net interest margin improved to 18.5% year-over-year. #### Provision for Credit Losses Provision for credit losses was $313 million, an increase of 14% from $274 million. #### Reserve Release The reserve release was - $3 million compared to - $74 million in the prior year. #### Reserve Rate The reserve rate improved 66 basis points year-over-year to 11.23%. ### Year-to-Date 2026 Financial Highlights (Compared to Year-to-Date 2025) #### Revenue Total net interest and non-interest income was $2,010 million, up 6% from $1,899 million. #### Net Principal Losses Net principal losses were $647 million, down 9% from $713 million. #### Provision for Credit Losses Provision for credit losses was $616 million, up 8% from $570 million. #### Total Non-Interest Expenses Total non-interest expenses were $955 million, nearly flat compared to $958 million. #### Income from Continuing Operations Before Income Taxes Income from continuing operations before income taxes was $439 million, up 18% from $371 million. #### Net Income Net income was $328 million, up 18% from $276 million. #### Net Income Available to Common Stockholders Net income available to common stockholders was $324 million, up 17% from $276 million. #### Adjusted Net Income Available to Common Stockholders Adjusted net income available to common stockholders was $325 million, up 13% from $288 million. #### Pretax Pre-Provision Earnings (PPNR) PPNR was $1,055 million, up 12% from $941 million. #### Adjusted PPNR Adjusted PPNR was $1,057 million, up 11% from $956 million. ### 2026 Full Year Outlook Bread Financial Holdings, Inc. projects average credit card and other loan growth to be up low- to mid-single digits from full year 2025, which is expected to drive a low- to mid-single digit increase in total revenue growth. The company anticipates a 2026 net loss rate in the range of 7.0% to 7.1% and expects to deliver positive operating leverage, excluding the pretax impacts from debt repurchases. The full year normalized effective tax rate is projected to be in the range of 25% to 27%. ### Related Stocks - [BFH.US](https://longbridge.com/en/quote/BFH.US.md) ## Related News & Research - [Bread Financial (NYSE:BFH) Announces Quarterly Earnings Results](https://longbridge.com/en/news/293635746.md) - [Bread Financial director Praniti Lakhwara sells 2,802 shares worth $297,348.24](https://longbridge.com/en/news/294258819.md) - [Bread Financial Reports Strong Second-Quarter Results and Outlook](https://longbridge.com/en/news/293606377.md) - [Miller Value Partners LLC Sells 68,595 Shares of Bread Financial Holdings, Inc. $BFH](https://longbridge.com/en/news/290189044.md) - [Bread Financial Director Sold Shares Worth Over $874K](https://longbridge.com/en/news/284281677.md)