Bread Financial reported its earnings for the fourth quarter (Q4) and full year (FY) 2025. For Q4 2025, the company recorded net income of USD 53 million and earnings per diluted share of USD 1.16. Adjusted net income for the quarter was USD 95 million, with adjusted earnings per diluted share at USD 2.07. Pretax pre-provision earnings for the quarter were USD 420 million, while adjusted PPNR (pre-tax pre-provision net revenue) stood at USD 475 million. For the full year 2025, net income amounted to USD 595 million and earnings per diluted share reached USD 10.96. Adjusted net income for the year was USD 578 million and adjusted earnings per diluted share was USD 12.16. Pretax pre-provision earnings for the full year were USD 1.86 billion, with adjusted PPNR at USD 1.93 billion. Bread Financial's CET1 capital ratio was 13.0 percent at the end of Q4 2025, compared to 12.4 percent in Q4 2024. The total risk-based capital ratio was 16.8 percent at the end of Q4 2025. The company reported direct-to-consumer deposits of USD 8.5 billion at the end of Q4 2025, representing an 11 percent increase year-over-year and accounting for 48 percent of average total funding for the quarter. Liquid assets totaled USD 3.6 billion as of Q4 2025.

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