CACC Stock Tanks 8% as Q3 Earnings Lag on Higher Provisions [Yahoo! Finance]
Credit Acceptance Corporation (CACC)
Last credit acceptance corporation earnings: 1/30 04:02 pm
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US:NASDAQ Investor Relations:
ir.creditacceptance.com/investor-relations
Company Research
Source: Yahoo! Finance
Earnings per share of $6.95 lagged the Zacks Consensus Estimate of $7.88 by a considerable margin. However, the bottom line grew 16.9% year over year. Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar Results were adversely impacted by higher operating expenses and provisions. Improvements in GAAP revenues and consumer loan assignment volumes were positive. Excluding the non-recurring items, adjusted net income was $109.1 million or $8.79 per share, down from $139.5 million or $10.70 per share in the prior-year quarter. Total GAAP revenues were $550.3 million, up 15% year over year. Increased finance charges and premiums earned supported revenue growth. The top line beat the Zacks Consensus Estimate of $542 million. Provision for credit losses was $184.7 million, stable year over year. Operating expenses of $129.4 million increased 17.1%. As of Sept. 30, 2024, net loans receivables were $7.78 billion, up 11.9% from December 2023-end. Total assets
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CACC
News
- Credit Acceptance Co. (NASDAQ: CACC) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Is Credit Acceptance (CACC) Trading at an Attractive Upside-To-Downside Ratio? [Yahoo! Finance]Yahoo! Finance
- Credit Acceptance Co. (NASDAQ: CACC) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
- Credit Acceptance Co. (NASDAQ: CACC) had its price target lowered by analysts at TD Cowen from $400.00 to $380.00. They now have a "sell" rating on the stock.MarketBeat
- Credit Acceptance Announces Third Quarter 2024 ResultsGlobeNewswire
CACC
Earnings
- 10/30/24 - Miss
CACC
Sec Filings
- 11/4/24 - Form 4
- 10/30/24 - Form 10-Q
- 10/30/24 - Form 8-K
- CACC's page on the SEC website