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.

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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.

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Southfield, Michigan , Nov. 03, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $389.9 million asset-backed non-recourse secured financing (the “Financing”).  Pursuant to this transaction, we contributed loans having a value of approximately $500.1 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue four classes of notes:

Credit Acceptance Announces Completion of $389.9 Million Asset-Backed Financing

Credit Acceptance (CACC) records a decline in GAAP revenues in the third quarter of 2022.

Credit Acceptance (CACC) Dips as Q3 Earnings Miss, Costs Rise

Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2022 Earnings Conference Call November 1, 2022 5:00 PM ET Company Participants Doug Busk - Chief Treasury Officer Conference Call Participants Moshe Orenbuch - Credit Suisse John Rowan - Janney Montgomery Scott Rob Wildhack - Autonomous Research Jason Hahn - Principal Global Investors Operator Good day, everyone, and welcome to Credit Acceptance Corporation Third Quarter 2022 Earnings Call. Today's call is being recorded.

Credit Acceptance Corporation (CACC) Q3 2022 Earnings Call Transcript

Credit Acceptance (CACC) delivered earnings and revenue surprises of -42.92% and 1.54%, respectively, for the quarter ended September 2022. Do the numbers hold clues to what lies ahead for the stock?

Credit Acceptance (CACC) Lags Q3 Earnings Estimates

Southfield, Michigan , Nov. 01, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $86.8 million, or $6.49 per diluted share, for the three months ended September 30, 2022 compared to consolidated net income of $250.0 million, or $15.79 per diluted share, for the same period in 2021. For the nine months ended September 30, 2022, consolidated net income was $408.5 million, or $29.74 per diluted share, compared to consolidated net income of $740.7 million, or $44.73 per diluted share, for the same period in 2021.

Credit Acceptance Announces Third Quarter 2022 Results

Southfield, Michigan, Oct. 31, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that Ravi Mohan joined our senior leadership team as Chief Technology Officer on October 24, 2022.

Credit Acceptance Announces Ravi Mohan as Chief Technology Officer

Southfield, Michigan , Oct. 25, 2022 (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 2022 earnings on Tuesday, November 1, 2022, after the market closes. A webcast is scheduled for Tuesday, November 1, 2022, at 5:00 p.m. Eastern Time to discuss third quarter earnings.

Credit Acceptance Announces Timing of Third Quarter 2022 Earnings Release and Webcast

Southfield, Michigan, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been recognized on the 2022 Fortune Best Workplaces in Financial Services & Insurance list based on last year's GPTW Trust Index Survey results. We ranked #12 among the 50 large companies that made the list, up nine spots from last year. This is the eighth consecutive year we have received this honor.

Credit Acceptance Named to the 2022 Best Workplaces in Financial Services & Insurance List for the Eighth Year in a Row

CACC Manages loans made to $40,000+ cost new-car buyers from franchised auto dealers. Here are prior investment market outcomes of same-as-today's stock price-range forecasts being made by institutional investors.

Credit Acceptance: Best Near-Term Capital-Gain Portfolio Wealth-Builder

Southfield, Michigan, Sept. 01, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been honored by Great Place to Work and PEOPLE magazine as one of the 2022 PEOPLE Companies that Care. We rank #84 out of 100.

Credit Acceptance Named to People Magazine Companies That Care List

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

Credit Acceptance (CACC) Up 2% Since Last Earnings Report: Can It Continue?

Southfield, Michigan, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announces with great sadness the passing of our founder Don Foss. Don passed away Sunday, August 14, from complications arising from an aggressive cancer. He was surrounded by his family.

Credit Acceptance Announces the Passing of Our Founder Don Foss

Southfield, Michigan, Aug. 12, 2022 (GLOBE NEWSWIRE) -- Credi t Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have extended by three years the $500.0 million asset-backed non-recourse secured financing that we entered into on August 28, 2019 (the “Financing”) and to which we refer as Term ABS 2019-2. Under the amendment effecting the extension, the date on which the Financing will cease to revolve has been extended from August 15, 2022 to August 15, 2025. The amendment has also increased the interest rate under the Financing from 3.13% to 5.15% and decreased the servicing fee from 6.0% to 4.0% of collections on the underlying consumer loans.

Credit Acceptance Announces Extension of $500.0 Million Asset-Backed Financing

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In light of credit card balances surging at the highest rate in over 20 years, five credit service companies with high GF Scores and are modestly undervalued based on GF Value are Visa Inc. ( V , Financial), Mastercard Inc. ( MA , Financial), Capital One Financial Corp. ( COF , Financial), Credit Acceptance Corp. ( CACC , Financial) and Regional Management Corp. ( RM , Financial) according to the All-in-One Screener, a Premium feature of GuruFocus.

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Higher expenses and provisions and a decline in revenues hurt Credit Acceptance's (CACC) Q2 earnings.

Credit Acceptance (CACC) Stock Up Despite Q2 Earnings Miss

Credit Acceptance Corporation (NASDAQ:CACC ) Q2 2022 Earnings Conference Call August 1, 2022 5:00 PM ET Company Participants Doug Busk – Chief Treasurer Officer Jay Martin – Senior Vice President, Finance and Accounting Ken Booth – Chief Executive Officer Conference Call Participants Moshe Orenbuch – Credit Suisse Ray Cheesman – Anfield Capital Management John Hecht – Jefferies Diogo Vaz da Silva – PSquared Asset Management Robert Wildhack – Autonomous Research John Rowan – Janney Operator Good day, everyone, and welcome to the Credit Acceptance Corporation's Second Quarter 2022 Earnings Call. Today's call is being recorded.

Credit Acceptance Corporation's (CACC) CEO Ken Booth on Q2 2022 Results - Earnings Call Transcript

Southfield, Michigan , Aug. 01, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $107.4 million, or $7.94 per diluted share, for the three months ended June 30, 2022 compared to consolidated net income of $288.6 million, or $17.18 per diluted share, for the same period in 2021. For the six months ended June 30, 2022, consolidated net income was $321.7 million, or $23.10 per diluted share, compared to consolidated net income of $490.7 million, or $28.96 per diluted share, for the same period in 2021.

Credit Acceptance Announces Second Quarter 2022 Results

Southfield, Michigan , July 25, 2022 (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 2022 earnings on Monday, August 1, 2022, after the market closes. A webcast is scheduled for Monday, August 1, 2022, at 5:00 p.m. Eastern Time to discuss second quarter earnings.

Credit Acceptance Announces Timing of Second Quarter 2022 Earnings Release and Webcast

Southfield, Michigan , July 20, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has earned an award based on rankings released by Great Place to Work® and FORTUNE.

Credit Acceptance Named One of the Best Workplaces for Millennials by Great Place to Work® and Fortune

Credit Acceptance (CACC) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.

Credit Acceptance (CACC) Stock Jumps 6.2%: Will It Continue to Soar?

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Falling consumer sentiments, recessionary woes and worsening asset quality hurt the Zacks Consumer Loans industry players' financials. Efforts to digitize operations along with easing lending standards will aid companies like Credit Acceptance (CACC) & Encore Capital (ECPG).

2 Consumer Loan Stocks Overcoming Tough Industry Backdrop

Southfield, Michigan, June 16, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq : CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $350.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we contributed loans having a value of approximately $437.6 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue four classes of notes:

News for Credit Acceptance Stock (CACC)