Credit Acceptance: Q2 Earnings Insights

Shares of Credit Acceptance CACC moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share rose 58.86% over the past year to $13.71, which beat the estimate of $9.50.

Revenue of $471,700,000 rose by 16.10% from the same period last year, which beat the estimate of $454,300,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Revenue guidance hasn't been issued by the company for now.

Details Of The Call

Date: Jul 29, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/5m2hwv53

Technicals

52-week high: $539.00

52-week low: $266.74

Price action over last quarter: Up 21.99%

Company Overview

Credit Acceptance Corp is a consumer finance company that specializes in automobile loans. These loans are offered through a U.S. nationwide network of automobile dealers that benefit from sales of vehicles to consumers who could otherwise not obtain financing. The company also benefits from repeat and referral sales, and from sales to customers responding to advertisements for financing, but qualify for traditional financing. The company derives its revenue from finance charges, premiums earned on the reinsurance of vehicle service contracts, and other fees. Of these, financing charges, including servicing fees, are by far the largest source of revenue.