We make vehicle ownership possible by providing innovative financing solutions that enable automobile dealers to sell vehicles to consumers regardless of their credit history. Our financing programs are offered through a nationwide network of automobile dealers who benefit from sales of vehicles to consumers who otherwise could not obtain financing; from repeat and referral sales generated by these same customers; and from sales to customers responding to advertisements for our financing programs, but who a ...

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: have an expected av ...

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the "Financing"). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: The notes have not ...

As of June 17, 2024, we had $66.8 million outstanding under the facility. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Credit Acceptance is publicly traded on the Nasd ...

Description of Credit Acceptance Corporation As of June 17, 2024, we had $66.8 million outstanding under the facility. Without our financing programs, consumers are often unable to purchase vehicles or they purchase unreliable ones. Further, as we report to the three national credit reporting agencies, an important ancillary benefit of our programs is that we provide consumers with an opportunity to improve their lives by improving their credit score and move on to more traditional sources of financing. Cre ...

Credit Acceptance Corporation (CACC) is well-poised for top-line growth, supported by decent demand for auto loans, along with increases in dealer enrollments and active dealers. The company's share buyback policy also seems impressive. However, elevated expenses will likely hurt the company's profitability to some extent. Weak credit quality and high debt levels are other concerns. The Zacks Consensus Estimate for CACC's 2024 earnings has been unchanged over the past 30 days. Hence, the company currently c ...

Credit Acceptance Corporation’s (CACC) first-quarter 2024 earnings of $5.08 per share missed the Zacks Consensus Estimate of $6.81. The bottom line reflects a 33.2% decline from the prior-year quarter. These figures include certain non-recurring items.Results were primarily hurt by an increase in operating expenses and higher provisions. Nevertheless, improvements in GAAP revenues and consumer loan assignment volumes were positives.Excluding non-recurring items, net income was $117.4 million or $9.28 per sh ...

For the quarter ended March 2024, Credit Acceptance (CACC) reported revenue of $508 million, up 11.9% over the same period last year. EPS came in at $5.08, compared to $7.61 in the year-ago quarter.The reported revenue compares to the Zacks Consensus Estimate of $495.27 million, representing a surprise of +2.57%. The company delivered an EPS surprise of -25.40%, with the consensus EPS estimate being $6.81.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and ...

Credit Acceptance Corporation (NASDAQ:CACC) Q1 2024 Earnings Conference Call April 29, 2024 5:00 PM ET Company Participants Jay Martin - Chief Financial Officer Ken Booth - Chief Executive Officer Douglas Busk - Chief Treasury Officer Conference Call Participants Rob Wildhack - Autonomous Research Ryan Shelley - Bank of America Operator Good day, everyone. And welcome to the Credit Acceptance Corporation First Quarter 2024 Earnings Call. Today’s call is being recorded. A webcast and transcript of today’s ea ...

(Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 Commission file number 000-20202 Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ Table of C ...