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Dec 31, 2022
Credit Acceptance Q4 2022 Earnings Report
Credit Acceptance reported a decrease in net income and adjusted net income compared to the same period last year, driven by increased provision for credit losses and decreased finance charges.
Key Takeaways
Credit Acceptance Corporation reported consolidated net income of $127.3 million, or $9.58 per diluted share, for the three months ended December 31, 2022, compared to $217.6 million, or $14.60 per diluted share, for the same period in 2021. Adjusted net income was $156.1 million, or $11.74 per diluted share, compared to $212.6 million, or $14.26 per diluted share, for the same period in 2021. The results were impacted by a decrease in forecasted collection rates and changes in profitability per Consumer Loan assignment.
Net income decreased due to an increase in provision for credit losses and a decrease in finance charges.
Adjusted net income decreased, impacted by lower yields on recent Consumer Loan assignments.
Consumer Loan assignment volume grew, with unit and dollar volumes increasing by 25.6% and 26.2%, respectively.
Active dealers increased by 15.0%, and average unit volume per active dealer grew by 9.1%.
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
This document does not contain forward guidance.
Revenue & Expenses
Visualization of income flow from segment revenue to net income