Bread Financial Holdings Inc

BFH: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$83.00	Knv	Tdykjbn

Bread Earnings: Otherwise Uninspiring Results Benefit From One-Time Gains on Sold Credit Card Loans

Michael Miller

Apr 27, 2023

At first glance, Bread's first-quarter results were extremely strong, with a dramatic improvement in revenue and earnings. However, once the one-time gains associated with the sale of the BJ's Wholesale Club credit card portfolio are stripped away, the underlying results showed declining profitability. Even so, we appreciate the positive impact the sale has had on Bread's financial position.

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