Southfield, Michigan, Feb. 27, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (the "Company", "Credit Acceptance", "we", "our", or "us") announced today the completion of a $200.0 million asset-backed non-recourse secured financing (the "Financing").  Pursuant to this transaction, we conveyed loans having a value of approximately $250.1 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: Note Class Amount I ...

Southfield, Michigan, Feb. 16, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today that we have extended the $100.0 million asset-backed non-recourse secured financing that we entered into on January 29, 2021 (the "Financing") and to which we refer as Term ABS 2021-1. Under the amendment effecting the extension, the date on which the Financing will cease to revolve has been extended from December 16, 2 ...

UNITED STATES We currently operate in one reportable segment which represents our core business of offering Dealers financing programs and related products and services that enable them to sell vehicles to consumers, regardless of their credit history. For information regarding our one reportable segment and related entity-wide disclosures, see Note 15 to the consolidated financial statements contained in Item 8 of this Form 10-K, which is incorporated herein by reference. Principal Business • a down paymen ...

Shares of Credit Acceptance Corporation (CACC) gained 2.4% in the after-market trading following the release of its fourth-quarter and 2023 results. Quarterly earnings of $7.29 per share surpassed the Zacks Consensus Estimate of $4.52 by a significant margin. However, the bottom line reflects a 23.9% fall from the prior-year quarter. These figures include certain non-recurring items.Results were aided by an improvement in GAAP revenues and consumer loan assignment volumes. However, higher operating expenses ...

Credit Acceptance Corporation (NASDAQ:CACC) Q4 2023 Earnings Conference Call January 31, 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 Moshe Orenbuch - TD Cowen Robert Wildhack - Autonomous Research Vincent Caintic - Stephens Operator Good day everyone and welcome to the Credit Acceptance Corporation Fourth Quarter 2023 Earnings Call. Today's call is being recorded. A webcast an ...

Credit Acceptance (CACC) reported $491.6 million in revenue for the quarter ended December 2023, representing a year-over-year increase of 7.1%. EPS of $7.29 for the same period compares to $9.58 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $478.8 million, representing a surprise of +2.67%. The company delivered an EPS surprise of +61.28%, with the consensus EPS estimate being $4.52.While investors closely watch year-over-year changes in headline numbers -- revenue and earning ...

Credit Acceptance (CACC) came out with quarterly earnings of $7.29 per share, beating the Zacks Consensus Estimate of $4.52 per share. This compares to earnings of $9.58 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 61.28%. A quarter ago, it was expected that this auto financing company would post earnings of $6.59 per share when it actually produced earnings of $5.43, delivering a surprise of -17.60%.Over the last four quar ...

Southfield, Michigan, Jan. 31, 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 $93.6 million, or $7.29 per diluted share, for the three months ended December 31, 2023 compared to consolidated net income of $127.3 million, or $9.58 per diluted share, for the same period in 2022. Adjusted net income, a non-GAAP financial measure, for the three months ended December 31, 2023 ...

Southfield, Michigan, Jan. 25, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") announced today the promotion of Jay Martin to Chief Financial Officer, effective January 23, 2024. Since joining Credit Acceptance in 2003, Mr. Martin has been successful in a variety of increasingly challenging roles throughout his tenure, including his most recent role as Senior Vice President, Finance and Accounting. He has played a ...

Southfield, Michigan, Jan. 24, 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 fourth quarter 2023 earnings on Wednesday, January 31, 2024, after the market closes. A webcast is scheduled for Wednesday, January 31, 2024, at 5:00 p.m. Eastern Time to discuss fourth quarter 2023 earnings.   Conference Call and Webcast Information:Date: Wednesday, Janua ...