| Credit Acceptance Announces Conditional Notice of Redemption for Outstanding Senior Notes Due 2026 |
Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it has delivered a conditional notice of redemption to the trustee for the Company's 6.625% senior notes due 2026 (the “2026 notes”). The notice of redemption calls for the redemption of all of the outstanding $400.0 million aggregate principal amount of 2026 notes (the “redemption”) on February 28, 2025, in accordance with the terms of the indenture governing the 2026 notes. The redemption is conditioned upon the Company's receipt, prior to the redemption date (or on the redemption date at or prior to such time as may be determined by the Company in its sole and absolute discretion), of aggregate proceeds (before initial purchasers' discounts and commissions and other offering expenses) from the offering of the Company's senior notes due 2030 announced today of at least $400.0 million. |
globenewswire.com |
2025-02-13 18:30:00 |
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| Credit Acceptance Announces Pricing of $500.0 Million Senior Notes Offering |
Southfield, Michigan , Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it priced $500.0 million aggregate principal amount of its 6.625% senior notes due 2030 (the “notes”) in its previously announced offering at an issue price of 100% of the principal amount of the notes. The $500.0 million aggregate principal amount of the notes represents an increase in the offering size from the previously announced $400.0 million. The closing of the sale of the notes is expected to occur on or about February 28, 2025, subject to customary closing conditions. We intend to use the net proceeds from the offering of the notes (1) to fund the redemption of all of our $400.0 million outstanding 6.625% senior notes due 2026 (the “2026 notes”), in accordance with the terms of the indenture governing the 2026 notes, and the payment of fees and expenses in connection therewith and (2) for general corporate purposes. Pending this application of the net proceeds from the offering of the notes, the net proceeds may be invested in short-term investments or applied to repay borrowings under our revolving credit facility without reducing the lenders' commitments thereunder. |
globenewswire.com |
2025-02-13 18:25:00 |
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| Credit Acceptance Announces $400.0 Million Senior Notes Offering |
Southfield, Michigan, Feb. 13, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that it plans to offer $400.0 million aggregate principal amount of senior notes due 2030 (the “notes”). We intend to use the net proceeds from the offering of the notes, together with cash on hand, to fund the redemption of all of our $400.0 million outstanding 6.625% senior notes due 2026 (the “2026 notes”), in accordance with the terms of the indenture governing the 2026 notes, and the payment of fees and expenses in connection therewith. Pending this application of the net proceeds from the offering of the notes, the net proceeds may be invested in short-term investments or applied to repay borrowings under our revolving credit facility without reducing the lenders' commitments thereunder. |
globenewswire.com |
2025-02-13 11:15:00 |
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| CACC Stock Jumps 5.8% as Q4 Earnings Beat on Higher Finance Charges |
An increase in finance charges, lower provisions and higher net loan receivables support Credit Acceptance's Q4 earnings. |
zacks.com |
2025-01-31 10:41:16 |
Czytaj oryginał (ang.) |
| Credit Acceptance (CACC) Q4 Earnings: Taking a Look at Key Metrics Versus Estimates |
While the top- and bottom-line numbers for Credit Acceptance (CACC) give a sense of how the business performed in the quarter ended December 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values. |
zacks.com |
2025-01-30 22:31:13 |
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| Credit Acceptance Corporation (CACC) Q4 2024 Earnings Call Transcript |
Credit Acceptance Corporation (NASDAQ:CACC ) Q4 2024 Earnings Conference Call January 30, 2024 5:00 PM ET Company Participants Jay D. Martin - Chief Financial Officer Kenneth S. |
seekingalpha.com |
2025-01-30 21:24:44 |
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| Credit Acceptance (CACC) Q4 Earnings and Revenues Surpass Estimates |
Credit Acceptance (CACC) came out with quarterly earnings of $12.26 per share, beating the Zacks Consensus Estimate of $6.82 per share. This compares to earnings of $7.29 per share a year ago. |
zacks.com |
2025-01-30 20:56:11 |
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| Credit Acceptance Announces Fourth Quarter and Full Year 2024 Results |
Southfield, Michigan, Jan. 30, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today 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. The following table summarizes our financial results: |
globenewswire.com |
2025-01-30 18:01:00 |
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| Credit Acceptance Announces Timing of Fourth Quarter 2024 Earnings Release and Webcast |
Southfield, Michigan, Jan. 23, 2025 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our fourth quarter 2024 earnings on Thursday, January 30, 2025, after the market closes. A webcast is scheduled for Thursday, January 30, 2025, at 5:00 p.m. Eastern Time to discuss fourth quarter 2024 earnings. |
globenewswire.com |
2025-01-23 18:02:00 |
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| Credit Acceptance Announces Completion of $300.0 Million Asset-Backed Financing |
Southfield, Michigan, Dec. 20, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $300.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $375.1 million to a wholly owned special purpose entity that will pledge the loans to institutional lenders under a loan and security agreement. We will issue three classes of notes: |
globenewswire.com |
2024-12-20 18:02:00 |
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| Credit Acceptance Celebrates its 10th Year as a Best Place to Work in IT by Computerworld |
Southfield, Michigan, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the Best Places to Work in IT by Computerworld for the 10th year. Credit Acceptance ranked #8 among midsize companies. This award recognizes companies with comprehensive tech-led strategies that foster an inclusive, supportive, and growth-oriented workplace. |
globenewswire.com |
2024-12-11 18:02:00 |
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| Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility |
Southfield, Michigan, Dec. 05, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of Warehouse Facility V (the “Facility”), one of our revolving secured warehouse facilities, from $200.0 million to $250.0 million. We also extended the date on which the Facility will cease to revolve from December 29, 2025 to December 29, 2027. The maturity of the Facility was also extended from December 27, 2027 to December 27, 2029. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate (“SOFR”) plus 245 basis points to SOFR plus 185 basis points. |
globenewswire.com |
2024-12-05 18:02:00 |
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| Credit Acceptance Named a 2024 Top Workplace in Michigan by the Detroit Free Press |
Southfield, Michigan, Nov. 18, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named a winner of the 2024 Detroit Free Press Top Workplaces. We ranked #2 among the top large companies in Michigan, the same as a year ago. This is the 13th year in a row that the Company has been recognized with this award by the Detroit Free Press. We also received the prestigious Managers Specialty Award for our leaders' efforts to help team members grow and learn as well as for caring about their concerns. |
globenewswire.com |
2024-11-18 18:02:00 |
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| CACC Stock Tanks 8% as Q3 Earnings Lag on Higher Provisions |
Higher provisions and operating expenses hurt Credit Acceptance's Q3 earnings, while a rise in revenues offers some support. |
zacks.com |
2024-11-01 11:15:19 |
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| Credit Acceptance Corporation (CACC) Q3 2024 Earnings Call Transcript |
Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2024 Earnings Conference Call October 31, 2024 10:00 AM ET Company Participants Jay Martin - CFO Ken Booth - CEO Conference Call Participants Moshe Orenbuch - TD Cowen John Rowan - Janney Montgomery Scott John Hecht - Jefferies Rob Wildhack - Autonomous Research Ryan Shelley - Bank of America Operator Good day, everyone, and welcome to the Credit Acceptance Corporation Third Quarter 2024 Earnings Call. Today's call is being recorded. |
seekingalpha.com |
2024-10-31 18:20:12 |
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| Credit Acceptance (CACC) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates |
Although the revenue and EPS for Credit Acceptance (CACC) give a sense of how its business performed in the quarter ended September 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. |
zacks.com |
2024-10-30 23:30:54 |
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| Credit Acceptance (CACC) Q3 Earnings Miss Estimates |
Credit Acceptance (CACC) came out with quarterly earnings of $6.35 per share, missing the Zacks Consensus Estimate of $7.88 per share. This compares to earnings of $5.43 per share a year ago. |
zacks.com |
2024-10-30 20:51:19 |
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| Credit Acceptance Announces Third Quarter 2024 Results |
Southfield, Michigan, Oct. 30, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) today announced consolidated net income of $78.8 million, or $6.35 per diluted share, for the three months ended September 30, 2024 compared to consolidated net income of $70.8 million, or $5.43 per diluted share, for the same period in 2023. Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2024 was $109.1 million, or $8.79 per diluted share, compared to $139.5 million, or $10.70 per diluted share, for the same period in 2023. The following table summarizes our financial results: |
globenewswire.com |
2024-10-30 18:02:00 |
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| Credit Acceptance Announces Timing of Third Quarter 2024 Earnings Release and Webcast |
Southfield, Michigan, Oct. 23, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our third quarter 2024 earnings on Wednesday, October 30, 2024, after the market closes. A webcast is scheduled for Thursday, October 31, 2024, at 8:30 a.m. Eastern Time to discuss third quarter 2024 earnings. |
globenewswire.com |
2024-10-23 20:02:00 |
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| Credit Acceptance Named a Top Workplace for Remote Work by Monster |
Southfield, Michigan, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named to the 2024 list of Top Workplaces for Remote Work by Monster and Energage. This is our first time being recognized on this list, with a #2 ranking out of 54 companies honored in the 500-plus employee-size category. The list celebrates organizations that cultivate exceptional remote working environments based on employee feedback. |
globenewswire.com |
2024-10-07 20:02:00 |
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| Credit Acceptance Named One of America's Top 200 Most Loved Workplaces® by Newsweek |
Southfield, Michigan, Oct. 03, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named to Newsweek's annual America's Top 200 Most Loved Workplaces® list. The Company has been ranked #10 after being named a Most Loved Workplace® in several other categories this year. |
globenewswire.com |
2024-10-03 20:02:00 |
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| Credit Acceptance Announces Completion of $600.0 Million Asset-Backed Financing |
Southfield, Michigan, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today the completion of a $600.0 million asset-backed non-recourse secured financing (the “Financing”). Pursuant to this transaction, we conveyed loans having a value of approximately $750.2 million to a wholly owned special purpose entity which will transfer the loans to a trust, which will issue three classes of notes: |
globenewswire.com |
2024-09-26 20:02:00 |
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| Credit Acceptance Announces Increase and Extension of Revolving Secured Warehouse Facility and Extension of $500.0 Million Asset-Backed Financing |
Southfield, Michigan , Sept. 19, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we have increased the amount of Warehouse Facility II (the “Facility”), one of our revolving secured warehouse facilities, from $400.0 million to $500.0 million. We also extended the date on which the Facility will cease to revolve from April 30, 2026 to September 20, 2027. The interest rate on borrowings under the Facility has decreased from the Secured Overnight Financing Rate (“SOFR”) plus 230 basis points to SOFR plus 185 basis points. |
globenewswire.com |
2024-09-19 20:02:00 |
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| Credit Acceptance Named One of the 2024 Best Workplaces in Financial Services & Insurance™ by Great Place To Work® and Fortune |
Southfield, Michigan, Sept. 12, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of the 2024 Best Workplaces in Financial Services & Insurance™ by Great Place to Work® and Fortune for the tenth consecutive year. The Company ranked #13 out of 50 companies in the large company category. |
globenewswire.com |
2024-09-12 20:02:00 |
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| Why Is Credit Acceptance (CACC) Down 3.5% Since Last Earnings Report? |
Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock? |
zacks.com |
2024-08-30 16:36:58 |
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| Credit Acceptance Named One of PEOPLE Magazine's 100 Companies that Care for Third Consecutive Year |
Southfield, Michigan, Aug. 22, 2024 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) has been named one of PEOPLE Magazine's 100 Companies That Care® by Great Place To Work® and PEOPLE magazine for the third consecutive year. Credit Acceptance was ranked 59th among the 100 companies that made the list. |
globenewswire.com |
2024-08-22 20:02:00 |
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| Credit Acceptance (CACC) Aided By Auto Loan Demand Amid Cost Woes |
Decent auto loan demand and a rise in dealer enrollment numbers support Credit Acceptance (CACC) amid higher expenses and deteriorating asset quality. |
zacks.com |
2024-08-09 13:35:51 |
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| Credit Acceptance (CACC) Posts Q2 Loss, Y/Y Rise in Provisions |
Credit Acceptance (CACC) records a y/y rise in revenues and operating expenses in the second quarter of 2024. |
zacks.com |
2024-08-01 17:11:11 |
Czytaj oryginał (ang.) |
| Compared to Estimates, Credit Acceptance (CACC) Q2 Earnings: A Look at Key Metrics |
Although the revenue and EPS for Credit Acceptance (CACC) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers. |
zacks.com |
2024-08-01 14:36:15 |
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