Credit Acceptance (CACC) Posts Q2 Loss, Y/Y Rise in Provisions

Credit Acceptance Corporation (CACC) reported a second-quarter 2024 loss per share of $3.83, missing the Zacks Consensus Estimate for earnings of$7.20. In the prior-year quarter, the company reported earnings per share of $1.69. Notably, in the reported quarter, the company recognized a$23.7-million loss related to the sale of one of its two office buildings, which has been included in the above-mentioned earnings figure. Results were primarily hurt by an increase in operating expenses and higher provisio ...