---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-23-000050"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2023-05-01T23:59:59+00:00"
generated_at: "2026-06-16T05:52:35.686144+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance Q1 GAAP EPS falls to $7.61 from $14.94; provision for credit losses spikes

## Summary
- GAAP net income $99.5M ($7.61/diluted) vs $214.3M ($14.94) a year ago, down 53.6%.
- Adjusted net income $127.0M ($9.71/diluted) vs $197.3M ($13.76) down 35.6%.
- Provision for credit losses increased 489.7% to $137.4M from $23.3M, driven by slower cash flow timing.
- Consumer loan unit volume grew 22.8%, dollar volume up 18.6%; initial spread on new loans 21.0% vs 19.4% a year ago.
- Operating expenses up 14.4% due to engineering headcount; interest expense up 49.0% on higher rates.

## SEC filing metadata
- accession: 0000885550-23-000050
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2023-05-01T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555023000050/0000885550-23-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555023000050/cacc-20230501.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-23-000050
- JSON: https://secwatch.observer/filing/0000885550-23-000050.json
- Plain text: https://secwatch.observer/filing/0000885550-23-000050.txt

## Key facts
- Earnings Releases
  CREDIT ACCEPTANCE CORP reported the three months ended March 31, 2023 results: net income consolidated net income of $99.5 million, EPS $7.61 per diluted share.
  - Period: the three months ended March 31, 2023
  - Net income: consolidated net income of $99.5 million
  - EPS: $7.61 per diluted share
  - Result: reported results
  source text: Credit Acceptance Corporation (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2023
  evidence_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000050/0000885550-23-000050-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.