Bread Financial CFO Sees Resilient Middle America, Improving Credit, and Loan Growth Ahead

Beberman highlights consumer trends, credit quality, and partner program launches driving the company's outlook

Published on Feb. 17, 2026

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Bread Financial CFO Perry Beberman said the company is seeing a 'resilient' middle-America consumer, continued gradual improvement in credit trends, and an inflection toward loan growth as new partner programs scale. Beberman discussed the company's outlook in a conversation with UBS analyst Nick Holowko, noting Bread's focus on near-prime to prime customers, seasonal credit trends, and the impact of new partner launches on loan growth.

Why it matters

Bread Financial's performance provides insights into the state of the consumer economy, particularly in middle America, as well as the company's ability to navigate credit challenges and drive growth through its partner network. The commentary offers a window into broader trends in the financial services and consumer lending sectors.

The details

Beberman said Bread primarily serves the 'middle part of the K' economy—near-prime to prime customers—with an average portfolio income just under $80,000. He noted customers have adjusted budgets to cope with post-COVID inflation, but the company expects continued credit improvement and a resumption of spend as inflation moderates. On credit, Beberman said January results were in line with expectations, with a seasonal uptick anticipated in February, though he expects metrics to move 'near 8%' but 'not all the way to 8%' as seasonal factors play out. He cited credit improvement from both the existing portfolio and newer, lower-loss vintages. For loan growth, Beberman pointed to partner launches from last year, including Raymour & Flanigan, Cricket Wireless, and Vivint, as well as 'yet-to-be-announced' new launches, as key tailwinds.

  • Beberman said January credit results were 'good numbers' and came in around expectations.
  • He also flagged a seasonal increase in February, though he expects it to improve year-over-year.

The players

Perry Beberman

The Chief Financial Officer of Bread Financial.

Nick Holowko

A UBS analyst who discussed Bread Financial's outlook with Beberman.

Bread Financial

A Columbus, Ohio-based financial services company that specializes in providing private label credit programs, co-brand credit cards and digital payment solutions for retail partners.

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What they’re saying

“We must not let individuals continue to damage private property in San Francisco.”

— Robert Jenkins, San Francisco resident (San Francisco Chronicle)

“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”

— Gordon Edgar, grocery employee (Instagram)

The takeaway

Bread Financial's commentary highlights the resilience of the middle-American consumer, the company's ability to navigate credit challenges, and the growth potential from its expanding partner network. These insights provide a valuable window into broader trends in the financial services and consumer lending sectors.