Credit Acceptance

Credit Acceptance Corp. engages in the provision of dealer financing programs that enables automobile dealers to sell vehicles to consumers, regardless of its credit history. Its financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers. The company was founded by Donald A. Foss in 1972 and is headquartered in Southfield, MI.

Earnings data Q1 2021

Earnings data Q2 2021

Earnings data Q3 2021

Earnings data Q4 2021

Earnings data Q1 2022

Earnings data Q2 2022

Earnings data Q3 2022

Earnings data Q4 2022

Earnings data Q1 2023

Earnings data Q2 2023

Earnings data Q3 2023

Earnings data Q4 2023

Earnings data Q1 2024

Earnings data Q2 2024

Earnings data Q3 2024

Earnings data Q4 2024

Credit Acceptance reports mixed Q4 results, focuses on regulatory compliance

Credit Acceptance's Q4 2022 earnings call highlighted mixed financial results with growth in volumes but a decline in net income and EPS. The company faces challenges in managing cash flow expectations, legal defense, and competitive pressures while seeking opportunities in settlements, expense optimization, and market conditions.

Credit Acceptance reports stable Q1 performance amidst profitability challenges

Credit Acceptance Corporation demonstrated resilience with stable collection rates and growth in loan assignments, despite challenges.
While facing lower forecasted profitability and increased expenses, the company remains focused on managing risks and profitability effectively.
Opportunities exist for optimizing strategies in loan pricing, unit origination growth, and navigating industry underwriting practices.
Investments in technology systems and confidence in financial position signal a commitment to long-term success.

Credit Acceptance Q2 2023: Challenges in Net Income Amid Growth Opportunities

Credit Acceptance Corporation faces challenges in adjusted net income and earnings per share, driven by changes in forecasting methodology and poor loan vintage performance. However, the company's strategic focus on growth, intrinsic value, and technology investments positions it well to capitalize on opportunities in the competitive used vehicle financing market.

Credit Acceptance reports Q3 challenges but sees growth opportunities

Credit Acceptance Corporation faced challenges in collection rate forecasts and profitability but showed strength in volume growth and loan portfolio balance. The competitive landscape remains favorable with opportunities to navigate industry dynamics and enhance performance.

Credit Acceptance (CACC) faces lower Q4 earnings amidst growth opportunities

Credit Acceptance (CACC) reported lower adjusted net income and EPS for Q4 2023, driven by decreased collection rates and higher interest rates. Despite challenges, the company is optimistic about growth opportunities and maintains a strong buyback strategy tied to funding loan originations.

Credit Acceptance reports Q1 income dip but sees growth opportunities

Credit Acceptance faced challenges with decreased collection rates and forecasted collection percentages for the 2022 vintage.
Despite income declines, the company demonstrated strengths in volume growth, reduced common shares outstanding, and stable loan prepayments.
Opportunities lie in leveraging competitor market exits, revenue expansion through loan portfolio growth, and strategic capital deployment.
Managing challenges and capitalizing on opportunities will be crucial for Credit Acceptance's future financial performance and growth.

Credit Acceptance (CACC) reports mixed Q2 performance, focuses on growth and value creation

Credit Acceptance (CACC) navigated a mixed Q2 2024 with strong growth in loan portfolio and originations, despite challenges with forecast adjustments. The company remains committed to creating value for stakeholders and investing in technology enhancements. Opportunities exist for sustained profitability and market expansion.

Revenue

Cost of revenue

Gross profit

Operating expenses

SG&A

Other

Operating income

EBITDA

Net income

Earnings per share

Total assets

Current assets

Cash & equivalents

Receivables

Inventory

Non-current assets

Net PPE

Intangibles

Total liabilities

Current liabilities

Short term debt

Income tax payable

Non-current liabilities

Long-term debt

Total equity

Stockholders equity

Minority interest

Total liabilities & equity

Total debt

Net debt

Book value per share

Cash from operations

Funds from operations

Change in working capital

Cash from investing

Capital expenditure

Purchase/sale of investments

Purchase/sale of business

Other sources

Cash from financing

Change in stock

Change in debt

Cash dividends paid

Cash from other sources

Net change in cash

Free cash flow

Higher provisions and operating expenses hurt Credit Acceptance's Q3 earnings, while a rise in revenues offers some support.

CACC Stock Tanks 8% as Q3 Earnings Lag on Higher Provisions

Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Jay Martin - CFO Ken Booth - CEO Conference Call Participants Moshe Orenbuch - TD Cowen John Rowan - Janney Montgomery Scott John Hecht - Jefferies Rob Wildhack - Autonomous Research Ryan Shelley - Bank of America Operator Good day, everyone, and welcome to the Credit Acceptance Corporation Third Quarter 2024 Earnings Call. Today's call is being recorded.

Credit Acceptance Corporation (CACC) Q3 2024 Earnings Call Transcript

Although the revenue and EPS for Credit Acceptance (CACC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Credit Acceptance (CACC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates

Credit Acceptance (CACC) came out with quarterly earnings of $6.35 per share, missing the Zacks Consensus Estimate of $7.88 per share. This compares to earnings of $5.43 per share a year ago.

Credit Acceptance (CACC) Q3 Earnings Miss Estimates

Southfield, Michigan, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $78.8 million, or $6.35 per diluted share, for the three months ended September 30, 2024 compared to consolidated net income of $70.8 million, or $5.43 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2024 was $109.1 million, or $8.79 per diluted share, compared to $139.5 million, or $10.70 per diluted share, for the same period in 2023. The following table summarizes our financial results:

Credit Acceptance Announces Third Quarter 2024 Results

Southfield, Michigan, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. A webcast is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 earnings.

Credit Acceptance Announces Timing of Third Quarter 2024 Earnings Release and Webcast

Southfield, Michigan, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named to the 2024 list of Top Workplaces for Remote Work by Monster and Energage. This is our first time being recognized on this list, with a #2 ranking out of 54 companies honored in the 500-plus employee-size category. The list celebrates organizations that cultivate exceptional remote working environments based on employee feedback.

Credit Acceptance Named a Top Workplace for Remote Work by Monster

Southfield, Michigan, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named to Newsweek's annual America's Top 200 Most Loved Workplaces® list. The Company has been ranked #10 after being named a Most Loved Workplace® in several other categories this year.

Credit Acceptance Named One of America's Top 200 Most Loved Workplaces® by Newsweek

Southfield, Michigan, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $600.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $750.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:

Credit Acceptance Announces Completion of $600.0 Million Asset-Backed Financing

Southfield, Michigan , Sept. 19, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of Warehouse Facility II (the “Facility”), one of our revolving secured warehouse facilities, from $400.0 million to $500.0 million. We also extended the date on which the Facility will cease to revolve from April 30, 2026 to September 20, 2027. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate (“SOFR”) plus 230 basis points to SOFR plus 185 basis points.

Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility and Extension of $500.0 Million Asset-Backed Financing

Southfield, Michigan, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 2024 Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for the tenth consecutive year. The Company ranked #13 out of 50 companies in the large company category.

Credit Acceptance Named One of the 2024 Best Workplaces in Financial Services & Insurance™ by Great Place To Work® and Fortune

Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?

Why Is Credit Acceptance (CACC) Down 3.5% Since Last Earnings Report?

Southfield, Michigan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of PEOPLE Magazine's 100 Companies That Care® by Great Place To Work® and PEOPLE magazine for the third consecutive year. Credit Acceptance was ranked 59th among the 100 companies that made the list.

Credit Acceptance Named One of PEOPLE Magazine's 100 Companies that Care for Third Consecutive Year

Decent auto loan demand and a rise in dealer enrollment numbers support Credit Acceptance (CACC) amid higher expenses and deteriorating asset quality.

Credit Acceptance (CACC) Aided By Auto Loan Demand Amid Cost Woes

Credit Acceptance Corporation (CACC) Q2 2024 Earnings Call Transcript

Credit Acceptance (CACC) records a y/y rise in revenues and operating expenses in the second quarter of 2024.

Credit Acceptance (CACC) Posts Q2 Loss, Y/Y Rise in Provisions

Although the revenue and EPS for Credit Acceptance (CACC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

Compared to Estimates, Credit Acceptance (CACC) Q2 Earnings: A Look at Key Metrics

Credit Acceptance (CACC) came out with a quarterly loss of $3.83 per share versus the Zacks Consensus Estimate of $7.20. This compares to earnings of $1.69 per share a year ago.

Credit Acceptance (CACC) Reports Q2 Loss, Tops Revenue Estimates

Southfield, Michigan, July 31, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net loss of $47.1 million, or $3.83 per diluted share, for the three months ended June 30, 2024 compared to consolidated net income of $22.2 million, or $1.69 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended June 30, 2024 was $126.4 million, or $10.29 per diluted share, compared to $140.0 million, or $10.69 per diluted share, for the same period in 2023. The following table summarizes our financial results:

Credit Acceptance Announces Second Quarter 2024 Results

Advantage Solutions

Enhabit Inc

Frontdoor Inc.

V.F.

Advantage Solutions currently trades at an attractive upside-to-downside ratio. Credit Acceptance's management allocates free cash flow to growing the business and repurchasing shares at attractive prices. Enhabit has historically earned high returns on capital and grew both organically and through acquisitions.

Curreen Capital's Top 5% Positions: Where I Am Finding The Most Value

Southfield, Michigan , July 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our second quarter 2024 results on Wednesday, July 31, 2024, after the market closes. A webcast is scheduled for Wednesday, July 31, 2024, at 5:00 p.m. Eastern Time to discuss second quarter 2024 results.

Credit Acceptance Announces Timing of Second Quarter 2024 Results and Webcast

Southfield, Michigan , July 15, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a Top Workplace in the Financial Services Industry by Top Workplaces with a #9 ranking in the 500-plus employee-size category. While Credit Acceptance has received the Top Workplaces USA recognition for four consecutive years, this year marks our debut on this industry-specific list.

Credit Acceptance Named a Top Workplace in Financial Services

Bank of New York Mellon

Heartland Financial USA

Northern Trust

Root

As of July 15, 2024, five stocks in the financials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

Top 5 Financials Stocks That May Collapse This Month

Primo Water

Telephone and Data Systems

PRMW, TDS and CACC made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 8, 2024.

Best Momentum Stocks to Buy for July 8th

Southfield, Michigan, June 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a Most Loved Workplace® for 2024 in several categories by the Best Practice Institute (BPI). These lists honor organizations that set a new standard for workplace excellence and demonstrate the power of a culture that fuels overall employee well-being, psychological safety, retention, and performance.

News for Credit Acceptance Stock (CACC)