secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-01-31T23:59:59+00:00
Accession:  0000885550-24-000016
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Credit Acceptance Q4 GAAP EPS $7.29, down 24% YoY; adjusted EPS $10.06
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- GAAP net income $93.6M vs $127.3M YoY; revenue growth not disclosed.
- Q4 loan origination unit volume +26.7% YoY; dollar volume +21.3%.
- Forecasted collection rates declined by $57M (0.6%) in Q4, vs $41.1M (0.5%) a year ago.
- Initial spread on new loans improved to 21.7%, up from 20.9% in Q4 2022.
- Average cost of debt rose due to higher interest rates on recent financings.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000016/0000885550-24-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000016/cacc-20240131.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000016

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer