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Sep 30, 2022
Credit Acceptance Q3 2022 Earnings Report
Credit Acceptance's financial performance decreased due to a decline in Consumer Loan performance and an increase in operating expenses.
Key Takeaways
Credit Acceptance Corporation reported a decrease in consolidated net income for the third quarter of 2022 compared to the same period in 2021. The decrease was primarily due to an increase in provision for credit losses and a decrease in finance charges.
Forecasted collection rates decreased for Consumer Loans assigned in 2019 through 2022, decreasing forecasted net cash flows by $85.4 million.
Consumer Loan assignment volume grew, with unit and dollar volumes increasing by 29.3% and 32.1%, respectively, compared to Q3 2021.
The number of active dealers increased by 12.6%, and the average unit volume per active dealer grew by 15.1%.
Total realized collections for October 2022 were consistent with expectations at the start of the month.
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
The company did not provide specific forward guidance in this earnings report.
Revenue & Expenses
Visualization of income flow from segment revenue to net income