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Jun 30, 2022
Credit Acceptance Q2 2022 Earnings Report
Reported consolidated net income and growth in consumer loan assignment volume.
Key Takeaways
Credit Acceptance Corporation reported a consolidated net income of $107.4 million, or $7.94 per diluted share, for the three months ended June 30, 2022, compared to $288.6 million, or $17.18 per diluted share, for the same period in 2021. Consumer Loan assignment volume increased, with unit and dollar volumes growing 5.1% and 22.0%, respectively, compared to the second quarter of 2021.
Forecasted collection rates decreased for Consumer Loans assigned in 2020 through 2022, reducing forecasted net cash flows by $43.4 million.
Forecasted profitability per Consumer Loan assignment significantly exceeded initial estimates for Consumer Loans assigned in 2018 through 2021.
Consumer Loan assignment volume grew, with unit and dollar volumes increasing by 5.1% and 22.0%, respectively, compared to Q2 2021.
The company repurchased approximately 404,000 shares, representing 3.0% of the shares outstanding at the beginning of the quarter.
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