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Mar 31, 2024
Credit Acceptance Q1 2024 Earnings Report
Consolidated net income decreased due to a decrease in forecasted collection rates, increase in interest expense, and increase in operating expenses.
Key Takeaways
Credit Acceptance Corporation announced consolidated net income of $64.3 million, or $5.08 per diluted share, for the three months ended March 31, 2024, compared to $99.5 million, or $7.61 per diluted share, for the same period in 2023. Adjusted net income was $117.4 million, or $9.28 per diluted share, compared to $127.0 million, or $9.71 per diluted share, for the same period in 2023.
Forecasted collection rates decreased, impacting net cash flows negatively.
Consumer Loan assignment volume and average loan portfolio balance grew.
The initial spread on Consumer Loan assignments increased.
The average cost of debt increased due to higher interest rates.
Credit Acceptance
Credit Acceptance
Credit Acceptance Revenue by Segment
Revenue by Segment
Finance Charges Revenue
CapyFin.comPremiums Earned Revenue
CapyFin.comOther Income Revenue
CapyFin.com Forward Guidance
We claim the protection of the safe harbor for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 for all of our forward-looking statements.
Revenue & Expenses
Visualization of income flow from segment revenue to net income