Credit Acceptance (CACC) Posts Q2 Loss, Y/Y Rise in Provisions
CACCCredit Acceptance(CACC) ZACKS·2024-08-02 01:11

Credit Acceptance Corporation (CACC) reported a second-quarter 2024 loss per share of 3.83,missingtheZacksConsensusEstimateforearningsof3.83, 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,inthereportedquarter,thecompanyrecognizeda1.69.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 provisions ...