---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-23-000108"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2023-10-30T23:59:59+00:00"
generated_at: "2026-06-09T06:28:28.899315+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance Q3 GAAP EPS $5.43, adjusted EPS $10.70; net income down 18% YoY

## Summary
- GAAP net income $70.8M ($5.43/diluted share) vs $86.8M ($6.49) in Q3 2022.
- Adjusted net income $139.5M ($10.70/diluted) vs $178.5M ($13.36) YoY.
- Loan assignment unit volume +13%, dollar volume +10.5% YoY; average spread on new loans 21.4% vs 20.2%.
- Forecasted collection rates decreased by $69.4M (0.7%) in Q3 vs $85.4M (0.9%) in prior year Q3.
- Board expanded to six; elected Sean E. Quinn as director, effective Oct 27, 2023.

## SEC filing metadata
- accession: 0000885550-23-000108
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2023-10-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555023000108/0000885550-23-000108-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555023000108/cacc-20231027.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-23-000108
- JSON: https://secwatch.observer/filing/0000885550-23-000108.json
- Plain text: https://secwatch.observer/filing/0000885550-23-000108.txt

## Key facts
- Earnings Releases
  CREDIT ACCEPTANCE CORP reported three months ended September 30, 2023 results: net income 139.5 million, EPS 10.70.
  - Period: three months ended September 30, 2023
  - Net income: 139.5 million
  - EPS: 10.70
  - Result: reported results
  source text: Adjusted net income, a non-GAAP financial measure, for the three months ended September 30, 2023 was $139.5 million, or $10.70 per diluted share
  evidence_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000108/0000885550-23-000108-index.htm
- Executive change
  Sean E. Quinn was elected as Director at CREDIT ACCEPTANCE CORP.
  - Action: elected
  - Role: Director
  source text: elected Sean E. Quinn as a director of the Company to fill the vacancy created by the increase in the size of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885550/000088555023000108/0000885550-23-000108-index.htm

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