Core Viewpoint - Credit Acceptance Corporation (CACC) reported disappointing third-quarter 2024 results, with earnings per share of $6.95 falling short of the Zacks Consensus Estimate of $7.88, despite a year-over-year growth of 16.9% in the bottom line [1][2]. Financial Performance - Total GAAP revenues for CACC reached $550.3 million, reflecting a 15% increase year over year, driven by higher finance charges and premiums earned, surpassing the Zacks Consensus Estimate of $542 million [3]. - Adjusted net income, excluding non-recurring items, was $109.1 million or $8.79 per share, down from $139.5 million or $10.70 per share in the same quarter last year [2]. - Operating expenses rose to $129.4 million, an increase of 17.1% year over year, which negatively impacted the bottom line [3][5]. Asset and Loan Performance - As of September 30, 2024, net loans receivables stood at $7.78 billion, marking an 11.9% increase from December 2023 [3]. - Total assets increased to $8.68 billion from $7.61 billion as of December 31, 2023, while total shareholders' equity decreased to $1.65 billion from $1.75 billion [4]. - Consumer loan assignment volumes increased by 17.7% in units and 12.2% in dollar volumes year over year [4]. Market Position and Outlook - The company is facing challenges from rising expenses and potential asset quality issues, which may hinder financial performance in the near term [5]. - Despite these challenges, CACC is positioned for revenue growth due to increasing demand for consumer loans [5].

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. A webcast and transcrip ...

For the quarter ended September 2024, Credit Acceptance (CACC) reported revenue of $550.3 million, up 15% over the same period last year. EPS came in at $6.35, compared to $5.43 in the year-ago quarter. The reported revenue compares to the Zacks Consensus Estimate of $542.46 million, representing a surprise of +1.45%. The company delivered an EPS surprise of -19.42%, with the consensus EPS estimate being $7.88. While investors closely watch year-over-year changes in headline numbers -- revenue and earnings ...

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. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -19.42%. A quarter ago, it was expected that this auto financing company would post earnings of $7.20 per share when it actually produced a loss of $3.83, delivering a surprise of -153.19%.Over the last four quar ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-20202 CREDIT ACCEPTANCE CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-1999511 (State or other ...

Credit Acceptance 25505 West Twelve Mile Road Southfield, MI 48034-8339 (248) 353-2700 creditacceptance.com NEWS RELEASE FOR IMMEDIATE RELEASE Date: October 30, 2024 Investor Relations: Douglas W. Busk Chief Treasury Officer (248) 353-2700 Ext. 4432 IR@creditacceptance.com Nasdaq Symbol: CACC CREDIT ACCEPTANCE ANNOUNCES THIRD QUARTER 2024 RESULTS Southfield, Michigan – October 30, 2024 – Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") to ...

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, 20 ...

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.   Conference Call and Webcast Information:Date: Thursday, October 3 ...

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 ...

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. The Most Loved Workplaces® list reflects companies that prioritize employee loyalty and create workplaces that employees love. These traits a ...