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, May 23, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq : CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named as one of Metropolitan Detroit's Best and Brightest Companies to Work For®. This is the eleventh straight year that Credit Acceptance has received this honor.

Credit Acceptance Named to the Metropolitan Detroit's Best and Brightest Companies to Work For® List

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Higher revenues and a fall in expenses support Credit Acceptance's (CACC) Q1 earnings.

Credit Acceptance (CACC) Up as Q1 Earnings Beat, Revenues Rise

Credit Acceptance Corporation (NASDAQ:CACC ) Q1 2022 Earnings Conference Call May 2, 2022 5:00 PM ET Company Participants Doug Busk - Chief Treasury Officer Ken Booth - Chief Executive Officer Conference Call Participants Moshe Orenbuch - Credit Suisse Arjun Tuteja - Jarislowsky, Fraser Rob Wildhack - Autonomous Research Alexandra Villalobos - Jefferies Operator Good day, everyone and welcome to the Credit Acceptance Corporation's First Quarter 2022 Earnings Call. Today's call is being recorded.

Credit Acceptance Corporation (CACC) CEO Ken Booth on Q1 2022 Results - Earnings Call Transcript

Credit Acceptance (CACC) delivered earnings and revenue surprises of 13.79% and 2.72%, respectively, for the quarter ended March 2022. Do the numbers hold clues to what lies ahead for the stock?

Credit Acceptance (CACC) Beats Q1 Earnings and Revenue Estimates

Southfield, Michigan , May 02, 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 $214.3 million, or $14.94 per diluted share, for the three months ended March 31, 2022 compared to consolidated net income of $202.1 million, or $11.82 per diluted share, for the same period in 2021.

Credit Acceptance Announces First Quarter 2022 Results

Southfield, Michigan , April 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 first quarter 2022 earnings on Monday, May 2, 2022, after the market closes.

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

Southfield, Michigan, April 13, 2022 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that Andrew Rostami will join our senior leadership team as Chief Marketing and Product Officer on April 18, 2022.

Credit Acceptance Announces Andrew Rostami as Chief Marketing and Product Officer

Credit Acceptance's (CACC) revenues will likely continue to improve, supported by the decent rise in dealer enrollments and active dealers. Yet, elevated costs might hurt profits.

Rise in Auto Loans Aid Credit Acceptance (CACC) Amid High Costs

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

Credit Acceptance (CACC) Up 1.1% Since Last Earnings Report: Can It Continue?

Credit Acceptance (CACC) records a rise in revenues and expenses in the fourth quarter of 2021.

Credit Acceptance (CACC) Q4 Earnings Beat, Revenues & Costs Up

Credit Acceptance Corporation (CACC) CEO Ken Booth on Q4 2021 Results - Earnings Call Transcript

Credit Acceptance (CACC) delivered earnings and revenue surprises of 14.78% and 1.09%, respectively, for the quarter ended December 2021. Do the numbers hold clues to what lies ahead for the stock?

Credit Acceptance (CACC) Q4 Earnings and Revenues Surpass Estimates

Southfield, Michigan , Jan. 31, 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 $217.6 million, or $14.60 per diluted share, for the three months ended December 31, 2021 compared to consolidated net income of $166.3 million, or $9.43 per diluted share, for the same period in 2020. For the year ended December 31, 2021, consolidated net income was $958.3 million, or $59.52 per diluted share, compared to consolidated net income of $421.0 million, or $23.47 per diluted share, for the same period in 2020.

Credit Acceptance Announces Fourth Quarter and Full Year 2021 Results

Southfield, Michigan, Jan. 24, 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 fourth quarter and full year 2021 results on Monday, January 31, 2022, after the market closes.

Credit Acceptance Announces Timing of Fourth Quarter and Full Year 2021 Earnings Release and Webcast

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Southfield, Michigan, Dec. 13, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the Best and Brightest Companies to Work For® in the Nation. We were selected as one of the top organizations that display a commitment to excellence in human resource practices and team member enrichment. We were evaluated by the National Association for Business Resources (NABR), an independent research firm, which reviewed several key measures such as communication, work-life balance, employee education, diversity, recognition, retention and more.

Credit Acceptance Named One of the Best and Brightest Companies to Work For® in the Nation and a 2021 National Best and Brightest in Wellness® Award Winner

Credit Acceptance (CACC) Down 6.8% Since Last Earnings Report: Can It Rebound?

Southfield, Michigan, Nov. 17, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been awarded a 2021 Top Workplaces honor by The Detroit Free Press. We ranked #3 among large companies that made the list this year, up two spots from a year ago. This is the tenth year in a row that Credit Acceptance has won a Detroit Free Press Top Workplace honor.

Credit Acceptance Named to the Detroit Free Press 2021 Top Workplaces List

Higher revenues and robust loan balance support Credit Acceptance's (CACC) Q3 results.

Credit Acceptance (CACC) Slips 3.7% Despite Q3 Earnings Beat

Credit Acceptance (CACC) delivered earnings and revenue surprises of 32.13% and 2.93%, respectively, for the quarter ended September 2021. Do the numbers hold clues to what lies ahead for the stock?

Credit Acceptance (CACC) Q3 Earnings and Revenues Beat Estimates

Credit Acceptance Corporation (CACC) Management on Q3 2021 Results - Earnings Call Transcript

Southfield, Michigan, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $250.0 million, or $15.79 per diluted share, for the three months ended September 30, 2021 compared to consolidated net income of $242.1 million, or $13.56 per diluted share, for the same period in 2020. For the nine months ended September 30, 2021, consolidated net income was $740.7 million, or $44.73 per diluted share, compared to consolidated net income of $254.7 million, or $14.17 per diluted share, for the same period in 2020.

Credit Acceptance Announces Third Quarter 2021 Results

Southfield, Michigan , Oct. 28, 2021 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $250.1 million asset-backed non-recourse secured financing (the “Financing”).  Pursuant to this transaction, we contributed loans having a value of approximately $312.6 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 $250.1 Million Asset-Backed Financing

Southfield, Michigan, Oct. 25, 2021 (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 2021 results on Monday, November 1, 2021, after the market closes.

News for Credit Acceptance Stock (CACC)