On February 28, 2025, Credit Acceptance Corporation, based in Southfield, Michigan, announced that it has successfully completed its previously mentioned offering of $500 million in senior notes with a 6.625% interest rate, due in 2030. The notes were issued at their full principal amount in a private offering that does not require registration under the Securities Act of 1933.
Credit Acceptance's Q4 earnings are boosted by a rise in finance charges, reduced provisions, and an increase in net loan receivables.
The financial results for Credit Acceptance (CACC) from the quarter ending in December 2024 provide insight into the company's performance. It may also be helpful to compare some important metrics with Wall Street predictions and figures from the previous year.
Credit Acceptance Corporation (NASDAQ:CACC) will hold its Q4 2024 Earnings Conference Call on January 30, 2024, at 5:00 PM ET. The call will feature company representatives, including Chief Financial Officer Jay D. Martin and Kenneth S.
On December 20, 2024, Credit Acceptance Corporation from Southfield, Michigan, announced that it has successfully completed a $300 million asset-backed non-recourse secured financing. In this deal, the company transferred loans worth about $375.1 million to a special purpose entity, which will use these loans as collateral for institutional lenders. The company plans to issue three different classes of notes as part of this financing.
On December 11, 2024, in Southfield, Michigan, Credit Acceptance Corporation (Nasdaq: CACC) was honored as one of the Best Places to Work in IT by Computerworld for the tenth consecutive year. The company achieved the 8th position among midsize firms. This recognition highlights organizations that implement effective technology strategies to create an inclusive and supportive work environment that encourages growth.
Southfield, Michigan, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) has been honored as one of the top workplaces in 2024 by the Detroit Free Press. We maintained our position at #2 among large companies in Michigan, just like last year. This marks the 13th consecutive year that we have received this recognition, and we also earned the Managers Specialty Award for our leaders' commitment to supporting team members' growth and addressing their concerns.
In the third quarter, Credit Acceptance's earnings were negatively affected by increased provisions and operating costs, although a rise in revenue provided some assistance.
Credit Acceptance Corporation (NASDAQ:CACC) will hold its Q3 2024 Earnings Conference Call on October 31, 2024, at 10:00 AM ET. The call will feature company representatives, including CFO Jay Martin and CEO Ken Booth, along with analysts from various financial firms. Please note that this call is being recorded.
Southfield, Michigan, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC), also known as "the Company" or "we," has made it onto Newsweek's yearly list of America's Top 200 Most Loved Workplaces®. This year, the Company achieved the 10th position after receiving recognition as a Most Loved Workplace® in various other categories.