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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.
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 section is not available in the report.