Southfield, Michigan, June 17, 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 maturity of our revolving secured line of credit facility with a commercial bank syndicate from June 22, 2026 to June 22, 2027. The interest rate on borrowings under the facility has changed from the Bloomberg Short-Term Bank Yield Index rate plus 187.5 basis points to the Secured Overnight Fina ...

文章核心观点 - 公司收入增长势头良好,主要得益于汽车贷款需求稳定,以及经销商注册和活跃经销商的增加 [1][5] - 但是高昂的费用将在一定程度上影响公司的盈利能力 [2] - 信用质量疲软和高债务水平是其他关注点 [2][7] 公司业务表现 - 公司2016-2023年收入复合年增长率为10.1%,2024年第一季度收入增长趋势持续 [5][6] - 2024年第一季度,融资费用占总收入的92.4% [6] - 公司预计2024年总收入将增长9.5%,2025年增长6.3%,2026年增长3.7% [6] - 公司有充足的流动性来满足短期债务偿付,即使经济形势恶化 [7] - 公司通过股票回购而不是派息的方式回报股东,截至2024年3月31日,公司还有150万股可回购 [8] 经营风险 - 公司2017-2023年运营费用复合年增长率为10.4%,主要由于薪资和营销费用上升 [9][10] - 公司资产质量一直是一个关注点,贷款损失准备金在2020年大幅上升,此后一直保持上升趋势 [11] - 随着贷款余额上升和宏观经济环境恶化,贷款损失准备金预计将在短期内保持较高水平 [11]

文章核心观点 - 公司一季度每股收益5.08美元,低于市场预期6.81美元,同比下降33.2% [1] - 主要受到运营费用上升和拨备金增加的影响,但GAAP收入和消费贷款分配量有所改善 [2] 公司财务表现 - GAAP收入同比增长11.9%至5.08亿美元,超出市场预期 [4] - 拨备金同比增加35.4%至1.86亿美元,高于预期 [5] - 运营费用同比增加7.5%至1.261亿美元,高于预期 [6] - 净贷款余额增加5.6%至73.5亿美元 [7] - 总资产增加6.5%至81亿美元,股东权益下降5.8%至16.5亿美元 [8] 业务表现 - 消费贷款分配量(单位和金额)同比分别增长24.1%和20.2% [9] 行业表现 - 同行Ally Financial一季度每股收益同比下降45.1% [13][14] - 同行Navient Corporation一季度每股收益同比下降27.9% [15][16]

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 -- a ...

财务数据和关键指标变化 - 公司调整后净利润为1.17亿美元,同比下降8% [1] - 调整后每股收益为9.28美元,同比下降4% [1] - 预测净现金流下降0.3%,去年同期增加0.1% [1] - 2020-2022年消费贷款的预测盈利能力下降,主要由于预测回收率下降和现金流时间延缓 [1] 各条业务线数据和关键指标变化 - 单位和美元交易量分别增长24.1%和20.2% [2] - 贷款组合平均余额创历史新高,GAAP和调整后分别增长12%和15% [2] 各个市场数据和关键指标变化 - 新发放消费贷款的初始利差从21%增加到22% [2] - 平均债务成本从5%上升到7%,主要由于新增或展期的有担保融资和发行的高级票据利率上升,以及偿还了较低利率的旧有融资和票据 [2] 公司战略和发展方向及行业竞争 - 公司认为行业内竞争对手的退出对公司有利 [2][3] - 公司认为竞争对手要重新进入市场需要一定时间来稳定业务和获得更好的融资渠道 [3] 管理层对经营环境和未来前景的评论 - 公司认为2022年消费贷款表现下降是行业普遍现象,主要由于贷款发放时期竞争激烈、车辆价格下跌以及通胀对次级消费者的影响 [3] 问答环节重要的提问和回答 问题1 **Rob Wildhack 提问** 4月份交易量增速从24%下降到11%,是否有什么原因导致 [3] **Ken Booth 回答** 公司认为可能是由于客户变得更加困难,但竞争环境并未发生重大变化 [3] 问题2 **Ryan Shelley 提问** 2022年贷款组合预测回收率下降5.4%,是否有什么特殊原因 [3] **Ken Booth 回答** 这是整个次级汽车金融行业的普遍现象,主要由于贷款发放时期竞争激烈、车辆价格下跌以及通胀对次级消费者的影响 [3]

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 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 Commission file number 000-20202 CREDIT ACCEPTANCE CORPORATION (Exact name of registrant as specified in its charter) Michigan 38-1999511 (State or other jur ...

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

公司财报发布 - 公司宣布将于2024年4月30日发布第一季度财报[1] 参与网络研讨会 - 电话接入仅限于通过电话参与网络研讨会的人员[2] - 网络研讨会可以通过访问公司网站的“投资者关系”部分实时访问[3] 创新融资方案 - 公司通过创新融资方案使汽车经销商能够向消费者销售汽车，无论其信用历史如何[5] 公司上市信息 - 公司在纳斯达克证券交易所上市，股票代码为CACC[6] 投资者关系 - 投资者关系联系人是Douglas W. Busk，联系方式为IR@creditacceptance.com[7]

Southfield, Michigan, April 04, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named one of the 100 Best Companies to Work For® by Fortune for the tenth time. With a ranking of #39 this year, the Company's longstanding presence on the list reinforces the strength of our culture. "Credit Acceptance is focused on creating and sustaining an inclusive and caring workplace environment where our team can thriv ...

Southfield, Michigan, March 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (NASDAQ:CACC) (referred to as the "Company", "Credit Acceptance", "we", "our", or "us") has been named a Top Workplaces USA Award winner for the fourth consecutive year. We made it into the Top 10 again this year with a #9 ranking in the 1,000-2,499-employee size category. The award is due to the longstanding strengths of Credit Acceptance's 2,200+ team members and the culture they foster, which is centered on our core va ...