Welcome to our dedicated news page for Credit Acceptance (Ticker: CACC), a resource for investors and traders seeking the latest updates and insights on Credit Acceptance.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Credit Acceptance's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Credit Acceptance's position in the market.
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Credit Acceptance announced its Q1 2024 results with consolidated net income of $64.3 million, or $5.08 per diluted share, down from $99.5 million in Q1 2023. Adjusted net income was $117.4 million. The company saw growth in loan volume but faced challenges with decreasing forecasted collection rates.
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Credit Acceptance (Nasdaq: CACC) announced the timing of its first quarter 2024 earnings release and webcast. The company expects to issue a news release on Tuesday, April 30, 2024, after the market closes, followed by a webcast at 5:00 p.m. Eastern Time. Credit Acceptance provides financing solutions for vehicle ownership, enabling automobile dealers to sell vehicles to consumers regardless of their credit history. The company's financing programs benefit both dealers and consumers, helping consumers improve their credit scores.
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Credit Acceptance (CACC) has been recognized as one of the 100 Best Companies to Work For® by Fortune for the tenth time, ranking #39 this year. The company's commitment to creating an inclusive and caring workplace environment has led to high employee satisfaction, with 92% agreeing that Credit Acceptance is a great place to work. This recognition reflects the company's focus on maintaining a positive culture and providing a supportive and empowering atmosphere for its team members.
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Credit Acceptance (CACC) announced a $500.0 million asset-backed non-recourse secured financing, conveying loans valued at $625.2 million to a special purpose entity. The Financing includes three classes of notes with varying interest rates, an expected average annualized cost of 6.4%, and will be used for debt repayment and general corporate purposes.
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Credit Acceptance (CACC) has been named a Top Workplaces USA Award winner for the fourth consecutive year, ranking #9 in the 1,000-2,499-employee category. The award reflects the company's focus on core values like PRIDE and the positive work environment fostering growth over its 52-year history. With 95% of the team working remotely, Credit Acceptance prioritizes work-life balance and connectivity through innovative initiatives. The recognition is a testament to the company's commitment to excellence and employee well-being.
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Credit Acceptance Corporation (Nasdaq: CACC) announced a $200.0 million asset-backed non-recourse secured financing transaction. The company conveyed loans worth $250.1 million to a special purpose entity, issuing three classes of notes with varying interest rates. The financing will have an expected average annualized cost of 7.8%, revolve for 36 months, and be used for debt repayment and general corporate purposes.
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Credit Acceptance Corporation (CACC) extends a $100.0 million asset-backed financing program, Term ABS 2021-1, to February 17, 2026. Since 1972, Credit Acceptance has provided financing programs for consumers with poor credit history, benefiting both dealers and consumers.
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Credit Acceptance Corporation (CACC) reported a net income of $93.6 million, or $7.29 per diluted share, for Q4 2023, compared to $127.3 million, or $9.58 per diluted share, in Q4 2022. Adjusted net income for Q4 2023 was $129.1 million, or $10.06 per diluted share, compared to $156.1 million, or $11.74 per diluted share, in Q4 2022.
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Credit Acceptance Corporation (Nasdaq: CACC) has promoted Jay Martin to Chief Financial Officer, effective January 23, 2024. Mr. Martin has been with the company since 2003 and has played a key role in its growth and success. He will work closely with other senior leaders on company strategy and continue to lead teams responsible for accounting, financial reporting, financial analysis, operations, and tax compliance. The company's CEO, Ken Booth, expressed his excitement for Martin's promotion and highlighted the company's commitment to making vehicle ownership accessible to consumers who otherwise could not obtain financing. Credit Acceptance is set to report quarterly earnings on January 31, 2024.
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Credit Acceptance Corporation (CACC) is set to release its fourth quarter 2023 earnings on January 31, 2024, after the market closes. A webcast is scheduled for the same day at 5:00 p.m. Eastern Time to discuss the earnings. Credit Acceptance has been offering financing programs for automobile dealers since 1972, enabling them to sell vehicles to consumers regardless of their credit history. The company is publicly traded on the Nasdaq Stock Market under the symbol CACC.
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Credit Acceptance Corp
Nasdaq:CACC
CACC Rankings
CACC Stock Data
6.02B
6.48M
39.91%
66.97%
5.11%
Credit Card Issuing
Finance and Insurance
United States of America
SOUTHFIELD
About CACC
credit acceptance (nasdaq: cacc) is a 1,300+ employee, michigan-based indirect finance company with 2014 operating revenues of $723m. founded in 1972, credit acceptance works with car dealers nationwide to enable them to sell vehicles to customers on credit, regardless of their credit history. the company’s motto, “we change lives!” speaks to team members’ pride in their ability to make a difference in the lives of dealers and customers alike. we offer a great work environment, awesome team members, competitive benefits, progressive career opportunities, a casual dress code and we work hard to ensure every team member is empowered to work to their fullest potential. if you align with our values and demonstrate pride (positive, respectful, insightful, direct and earnest) in your work, we would love to hear from you!