Credit AcceptanceNASDAQ: CACC

Southfield, Michigan, June 21, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of the asset-backed non-recourse secured financing that we entered into on December 15, 2022 (the “Financing”) and to which we refer as Term ABS 2022-2 from $200.0 million to $300.0 million. Under the amendment effecting the increase and extension, the date on which the Financing will cease to revolve has been extended from December 15, 2025 to June 15, 2027.

Southfield, Michigan, June 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $550.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $687.7 million to a wholly-owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:

Credit Acceptance's (CACC) revenues will likely continue to improve, supported by decent increases in dealer enrollments and active dealers. Yet, elevated costs might hurt profits.

Credit Acceptance (CACC) experiences an increase in revenues and operating expenses compared to the same period last year in the first quarter of 2024.

While the revenue and EPS of Credit Acceptance (CACC) provide insight into its performance in the first quarter of 2024, it is important to also examine how certain important metrics stack up against analyst expectations and the same period last year.

Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?

Credit Acceptance (CACC) records a rise in revenues and operating expenses in the fourth quarter of 2023.

Credit Acceptance Corporation (CACC) Q4 2023 Earnings Call Transcript

While the top- and bottom-line numbers for Credit Acceptance (CACC) give a sense of how the business performed in the quarter ended December 2023, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.