Bread Financial Holdings, Inc. · NYSE:BFH
Bread Financial — Alliance Data Systems — Q1 2020 Earnings Presentation
11 slides from Bread Financial's earnings presentation, Apr 23, 2020
Slide 1: First Quarter 2020 Results
Alliance Data NYSE: ADS First Quarter 2020 ResultsApril 23, 2020
Slide 2: Forward-Looking Statements
2 Forward-Looking StatementsThis presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements give our expectations or forecasts of future events and can generally b
Slide 3: Agenda
Agenda Speakers: Ralph Andretta President and CEO Tim King EVP and CFO COVID-19 Key Stakeholder ResponseQ1 Consolidated ResultsBusiness Segment ResultsQ1 Liquidity UpdateClosing Remarks Q&A 3
Slide 4: COVID-19 Key Stakeholder Response
4 COVID-19 Key Stakeholder Response Our Associates Our Cardmembers/ Consumers Our Brand Partners/Clients Our Communities Activated global Business Continuity Plan with ~95% of global workforce working remotely Extended our hours of operation to manage elevated cardmember needs and call volume Adjust
Slide 5: Consolidated Results
Q1 2020 Consolidated Results (MM, except per share) 5 Quarter Ended March 31, 2020 2019 % Change Revenue $1,382 $1,334 4% Income from continuing operations $30 $178 -83% Income from continuing operations per diluted share (EPS) $0.63 $3.35 -81% Core EPS $0.75 $3.79 -80% Adjusted EBITDA $194 $423 -54
Slide 6: LoyaltyOne
Q1 2020 LoyaltyOne (MM) 6 Revenue and Adj EBITDA increased 7 and 6 percent respectively, adjusted for currency translation and the divestiture of Precima
Slide 7: Card Services – Key Metrics
Q1 2020 Card Services – Key Metrics 7 1 Normalized card receivables includes held-for-sale receivables.2 Revenue divided by normalized card receivables.3 Excludes mark to market on held-for-sale receivables. Quarter Ended March 31, 2020 2019 % Change/Variance Credit Sales $6,099 $6,315 -3% Average C
Slide 8: Card Services
Q1 2020 Card Services (MM) 8 * Includes all end of quarter changes to provision, including COVID-19
Slide 9: Liquidity Update
Q1 2020 Liquidity Update Parent Level Liquidity at 3/31 of $1.1 billion, consisting of cash on hand plus revolver capacity $588 million in cash and cash equivalents, $500 million in unused revolverReduced the dividend and suspended all share repurchasesNo refinancing risk until 12/22Bank LevelBanks
Slide 10: Financial Measures
10 Financial MeasuresIn addition to the results presented in accordance with generally accepted accounting principles, or GAAP, the Company may present financial measures that are non-GAAP measures, such as constant currency financial measures, pre-provision earnings before taxes, adjusted EBITDA, a
Slide 11: Q & A
Q & A 11
Alliance Data Systems — Q1 2020 Earnings Presentation on 6ix