Profile
Sector:
Financial ServicesIndustry:
Credit ServicesCountry:
United StatesIPO:
05 June 1992Website:
http://www.creditacceptance.comNext earnings report:
N/ALast dividends:
N/ANext dividends:
N/APrice
after hours | Fri, 01 Nov 2024 23:09:56 GMTDividend
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CACC Latest News
Higher provisions and operating expenses hurt Credit Acceptance's Q3 earnings, while a rise in revenues offers some support.
Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Jay Martin - CFO Ken Booth - CEO Conference Call Participants Moshe Orenbuch - TD Cowen John Rowan - Janney Montgomery Scott John Hecht - Jefferies Rob Wildhack - Autonomous Research Ryan Shelley - Bank of America Operator Good day, everyone, and welcome to the Credit Acceptance Corporation Third Quarter 2024 Earnings Call. Today's call is being recorded.
Southfield, Michigan, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named to Newsweek's annual America's Top 200 Most Loved Workplaces® list. The Company has been ranked #10 after being named a Most Loved Workplace® in several other categories this year.
Southfield, Michigan, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $600.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $750.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes:
Southfield, Michigan , Sept. 19, 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 Warehouse Facility II (the “Facility”), one of our revolving secured warehouse facilities, from $400.0 million to $500.0 million. We also extended the date on which the Facility will cease to revolve from April 30, 2026 to September 20, 2027. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate (“SOFR”) plus 230 basis points to SOFR plus 185 basis points.
Southfield, Michigan, Sept. 12, 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 2024 Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for the tenth consecutive year. The Company ranked #13 out of 50 companies in the large company category.
Southfield, Michigan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of PEOPLE Magazine's 100 Companies That Care® by Great Place To Work® and PEOPLE magazine for the third consecutive year. Credit Acceptance was ranked 59th among the 100 companies that made the list.
Decent auto loan demand and a rise in dealer enrollment numbers support Credit Acceptance (CACC) amid higher expenses and deteriorating asset quality.
Credit Acceptance (CACC) records a y/y rise in revenues and operating expenses in the second quarter of 2024.
Although the revenue and EPS for Credit Acceptance (CACC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
What type of business is Credit Acceptance?
Credit Acceptance Corporation is a financial company that provides subprime auto loans and other related financial products in the USA. The company was founded by Donald Foss in 1972, being one of the largest used car dealers at the time. The headquarters is located in Southfield, Michigan. The company has two financing programs. Under the first one, Credit Acceptance advances money to dealers in exchange for the right to service the corresponding consumer loans. Under the other program, they purchase consumer loans from dealers and retain all amounts received from consumers. The main revenue comes from finance charges for servicing loans, commissions for additional services, and a monthly subscription fee.
What sector is Credit Acceptance in?
Credit Acceptance is in the Financial Services sector
What industry is Credit Acceptance in?
Credit Acceptance is in the Credit Services industry
What country is Credit Acceptance from?
Credit Acceptance is headquartered in United States
When did Credit Acceptance go public?
Credit Acceptance initial public offering (IPO) was on 05 June 1992
What is Credit Acceptance website?
https://www.creditacceptance.com
Is Credit Acceptance in the S&P 500?
No, Credit Acceptance is not included in the S&P 500 index
Is Credit Acceptance in the NASDAQ 100?
No, Credit Acceptance is not included in the NASDAQ 100 index
Is Credit Acceptance in the Dow Jones?
No, Credit Acceptance is not included in the Dow Jones index
When was Credit Acceptance the previous earnings report?
No data
When does Credit Acceptance earnings report?
Next earnings report date is not announced yet