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Dec 31, 2024
Credit Acceptance Q4 2024 Earnings Report
Credit Acceptance reported an increase in GAAP net income and a decrease in adjusted net income for Q4 2024.
Key Takeaways
Credit Acceptance Corporation announced consolidated net income of $151.9 million, or $12.26 per diluted share, for the three months ended December 31, 2024, compared to consolidated net income of $93.6 million, or $7.29 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended December 31, 2024, was $126.0 million, or $10.17 per diluted share, compared to $129.1 million, or $10.06 per diluted share, for the same period in 2023.
Forecasted collection rates declined, decreasing net cash flows from the loan portfolio by $31.1 million, or 0.3%.
Consumer Loan assignment unit volume growth slowed to 0.3%, while the average loan portfolio balance increased by 14.0% on a GAAP basis.
The initial spread on Consumer Loan assignments increased to 22.4%, compared to 21.7% in Q4 2023.
The average cost of debt increased from 6.3% to 7.2%, due to higher interest rates on recent financings.
Revenue by Segment
Forward Guidance
This section is not available in the report.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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