Bread Financial Holdings, Inc. · NYSE:BFH
Bread Financial — Alliance Data Systems — FY2019 Earnings Presentation
11 slides from Bread Financial's earnings presentation, Jan 30, 2020
Slide 1: Alliance Data Full Year 2019 Results
Alliance Data NYSE: ADS Full Year 2019 ResultsJanuary 30, 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: Charles Horn Vice Chairman and Acting CEO Tim King EVP and CFO Consolidated ResultsSegment Results2020 Guidance 3
Slide 4: 2019 Consolidated Results
2019 Consolidated Results(MM, except per share) 4 Year Ended December 31, 2019 2018 % Change Revenue $5,581 $5,667 -2% Income from continuing operations $573 $946 -39% Income from continuing operations per diluted share (EPS) $11.24 $17.17 -35% Core EPS $16.77 $19.49 -14% Adjusted EBITDA $1,710 $1,9
Slide 5: 2019 Segment Results
2019 Segment Results(MM) 5 Year Ended December 31, 2019 2018 % Change Revenue: LoyaltyOne® $1,033 $1,068 -3% Card Services $4,548 $4,598 -1% $5,581 $5,667 -2% Adjusted EBITDA, net: LoyaltyOne $245 $254 -4% Card Services $1,120 $1,496 -25% Corporate/Other ($93) ($141) -34% $1,271 $1,609 -21%
Slide 6: 2019 LoyaltyOne
Year Ended December 31, 2019 2018 % Change Revenue $1,033 $1,068 -3% Adjusted revenue 1 $1,121 $1,068 +5% Adjusted EBITDA, net $245 $254 -4% Constant currency adjusted EBITDA, net $253 $254 0% 2019 LoyaltyOne(MM) 1 Adjusted for constant currency and change to net revenue presentation required under
Slide 7: 2019 Card Services – Key Metrics
2019 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. Year Ended December 31, 2019 2018 % Change/Variance Credit Sales $30,987 $30,702 +1% Average Ca
Slide 8: 2019 Card Services
Year Ended December 31, 2019 2018 % Change Revenue $4,548 $4,598 -1% Operating Expenses $1,929 $1,814 +6% Provision for Loan Losses $1,188 $1,016 +17% Funding Costs $439 $386 +14% Earnings before taxes $992 $1,382 -28% Adjusted EBITDA, net $1,120 $1,496 -25% 2019 Card Services(MM) 8
Slide 9: Initial Annual Guidance
Initial Annual Guidance:Revenue of $5.6 billion, flat with 2019Precima divestiture negatively impacts 2020 revenue by $100 millionCore EPS of $20.50, up 22 percent from 2019Full-year benefit of expense controls realizedKey Card Metrics:Normalized average card receivables flat (sold $2.1 billion in r
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, adjusted EBITDA, adjusted EBITDA margin, adjusted EBITD
Slide 11: Q & A
Q & A 11