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.
Higher provisions and operating expenses hurt Credit Acceptance's Q3 earnings, while a rise in revenues offers some support.
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.
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.
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.
Credit Acceptance (CACC) reported earnings 30 days ago. What's next for the stock?
Decent auto loan demand and a rise in dealer enrollment numbers support Credit Acceptance (CACC) amid higher expenses and deteriorating asset quality.
Credit Acceptance (CACC) records a y/y rise in revenues and operating expenses in the second quarter of 2024.
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.
Credit Acceptance (CACC) came out with a quarterly loss of $3.83 per share versus the Zacks Consensus Estimate of $7.20. This compares to earnings of $1.69 per share a year ago.
PRMW, TDS and CACC made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on July 8, 2024.
Credit Acceptance's (CACC) revenues will likely continue to improve, supported by decent increases in dealer enrollments and active dealers. Yet, elevated costs might hurt profits.