secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2023-01-31T23:59:59+00:00
Accession:  0000885550-23-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance Q4 net income $127.3M ($9.58 EPS) down 41.5% YoY
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- Adjusted EPS $11.74 vs $14.26 prior year; forecasted collection rates for 2021-2022 loans decreased.
- Unit volume up 25.6% YoY, active dealers up 15.0%, but GAAP net income fell 41.5% to $127.3M.
- Provision for credit losses surged 403.1% to $130.3M due to $110.4M negative forecast changes.
- Full year 2022 net income $535.8M ($39.32 EPS) down 44.1% from $958.3M in 2021.
- Stock repurchases of 208k shares (1.6% of shares outstanding) in Q4.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000006/0000885550-23-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555023000006/cacc-20230131.htm
  HTML page:      https://secwatch.observer/filing/0000885550-23-000006

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