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Bread Financial Holdings (BFH) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Oct 27, 2026 · Bread Financial Holdings (BFH) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $1.0B · 15¢ of every $1 of revenue kept as net profit · operating margin 20.6%

Bread Financial Holdings made $1.0B in Q3 2026 (+5% Y/Y). Operating margin 20.6%, net earnings $156M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Oct 27, 2026.

Revenue$1.0B
Year over year+5%
Operating margin20.6%
Net earnings$156M
Operating cash flow$601M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $1.0B in Q3 2026, up 5% year over year and up 2% from the previous quarter.

Operating profit was $0.21B, a 20.6% margin (up 0.4 points year over year). Of the extra revenue versus Q3 2025, 28% reached operating profit, above the 20% margin then. Total costs grew 4% against revenue growth of 5%. Net earnings were $0.16B, down 17% year over year. The effective tax rate was 25.4%.

Operating cash flow was $0.60B (down 1% year over year), 385% of net earnings. Non-cash charges added back $0.02B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items added $0.41B.

Quarterly history

Bread Financial Holdings revenue by quarterBread Financial Holdings revenue by quarter$970MQ1 2025$929MQ2 2025$971MQ3 2025$975MQ4 2025$1.0BQ1 2026$993MQ2 2026$1.0BQ3 2026
Bread Financial Holdings net earnings by quarterBread Financial Holdings net earnings by quarter$138MQ1 2025$139MQ2 2025$188MQ3 2025$54.0MQ4 2025$181MQ1 2026$146MQ2 2026$156MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QOct 27, 2026$1.0B+5%20.6%$156M$601M
Q2 202610-QJul 28, 2026$993M+7%19.8%$146M$533M
Q1 202610-QApr 28, 2026$1.0B+5%23.9%$181M$487M
Q4 202510-KFeb 13, 2026$975M+5%4.9%$54.0M$568M
Q3 202510-QOct 28, 2025$971M-1%20.2%$188M$605M
Q2 202510-QJul 29, 2025$929M-1%18.7%$139M$526M
Q1 202510-QApr 29, 2025$970M-2%19.9%$138M$393M

Charts

Bread Financial Holdings: revenue growth, year over year and quarter over quarterBread Financial Holdings: revenue growth, year over year and quarter over quarterY/YQ/Q-2%Q1 2025-1%-4%Q2 2025-1%+5%Q3 2025+5%+0%Q4 2025+5%+4%Q1 2026+7%-2%Q2 2026+5%+2%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q +2%.
Bread Financial Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Bread Financial Holdings: where the cash came from (+) and went (−), TTM to Q3 2026Other investing−$2.5BOperating cash flow$2.2BOther financing$1.6BBuybacks−$595MCash drawn (+) / kept (−)−$427MNet borrowing (+) / repaid (−)−$364MShares issued$201MDividends−$39.0M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Bread Financial Holdings: profit against cash, quarter by quarterBread Financial Holdings: profit against cash, quarter by quarterNet incomeOperating cash flow$7.0M$479MQ4 2024$138M$393MQ1 2025$139M$526MQ2 2025$188M$605MQ3 2025$54.0M$568MQ4 2025$181M$487MQ1 2026$146M$533MQ2 2026$156M$601MQ3 2026
Latest (Q3 2026): Net income $156M, Operating cash flow $601M.
Bread Financial Holdings: diluted shares by fiscal yearBread Financial Holdings: diluted shares by fiscal year48MFY202050MFY202150MFY202250MFY202350MFY202448MFY2025
-0.6% since FY2020: buybacks shrank the count.
Bread Financial Holdings in its industry: growth against margin (9 companies, SIC 6141)Bread Financial Holdings in its industry: growth against margin (9 companies, SIC 6141)revenue growth, year over year →↑ operating marginmedian +8%median 16%OMFAFRMENVAATLCCACCHAPNRMWRLDBFH (+5%, 21%)
Personal Credit Institutions; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About Bread Financial Holdings

We are 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 and entertainment, health and 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.

In its own words, from its 10-K, filed Feb 13, 2026.

Bread Financial Holdings against its Personal Credit Institutions peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +8%. Operating margin: 20.6% against the peers' median 15.6%.

CompanyQuarterRevenueY/YOp. margin
BFH Bread Financial HoldingsQ3 2026$1.0B+5%20.6%
OMF OneMain HoldingsQ3 2026$1.4B+10%17.2%
AFRM Affirm HoldingsQ1 FY27$1.3B+35%14.8%
ENVA Enova InternationalQ3 2026$1.0B+26%24.5%
ATLC Atlanticus HoldingsQ3 2026$776M+60%15.6%
CACC Credit AcceptanceQ3 2026$595M+2%-12.4%
HAPN HappenQ3 2026$263M-1%29.2%
RM Regional ManagementQ3 2026$179M+8%11.1%
WRLD World AcceptanceQ2 FY27$139M+3%8.4%

Source: Bread Financial Holdings 10-Q on SEC EDGAR · CIK 1101215 · Personal Credit Institutions

Guidance and outlook

Bread Financial Holdings Tax rate: guidance against what was reportedBread Financial Holdings Tax rate: guidance against what was reportedguided rangereported (above / within / below)FY202515.4%
Met or beat 1 of 1 guided periods. Grey: the last range guided before the figures came out; dot: the reported figure.

13F: who owns BFH and who is buying

Largest holders of BFH (13F)Largest holders of BFH (13F)BlackRock$421MVanguard Group$379MDimensional Fund Advisors LP$335MVanguard Portfolio Management LLC$284MAmerican Century Companies$194MAllianz Asset Management GmbH$194MVanguard Capital Management LLC$190MState Street$182MTurtle Creek Asset Management$142MGeode Capital Management, LLC$123M
Funds' net buying of BFH by quarter (13F)Funds' net buying of BFH by quarter (13F)$25.9M2024-09−$62.4M2024-12−$12.8M2025-03−$15.4M2025-06$2.3M2025-09−$96.4M2025-12−$345M2026-03−$432M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on BFH

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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