---
schema_version: "secwatch.filing_event.v1"
accession: "0000885550-24-000067"
form_type: "8-K"
ticker: "CACC"
cik: "0000885550"
company_name: "CREDIT ACCEPTANCE CORP"
filed_at: "2024-04-30T23:59:59+00:00"
generated_at: "2026-06-03T05:12:01.876965+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Credit Acceptance Q1 GAAP net income down 35% to $64.3M; adjusted EPS $9.28 vs $9.71 YoY

## Summary
- GAAP EPS $5.08 vs $7.61 YoY; adjusted EPS $9.28 vs $9.71; net income fell on $48.6M higher provision for credit losses.
- Forecasted collection rates decreased net cash flows by $30.8M (0.3%) vs a $9.4M increase in Q1 2023.
- Consumer Loan unit volume up 24.1% and dollar volume up 20.2% YoY; initial spread improved to 22.0% from 21.0%.
- Repurchased ~728,000 shares (5.7% of outstanding since Q1 2023); average cost of debt rose to 7.0% from 4.7%.

## SEC filing metadata
- accession: 0000885550-24-000067
- form_type: 8-K
- ticker: CACC
- cik: 0000885550
- company_name: CREDIT ACCEPTANCE CORP
- filed_at: 2024-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/885550/000088555024000067/0000885550-24-000067-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/885550/000088555024000067/cacc-20240430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000885550-24-000067
- JSON: https://secwatch.observer/filing/0000885550-24-000067.json
- Plain text: https://secwatch.observer/filing/0000885550-24-000067.txt

## Key facts
- Earnings Releases
  CREDIT ACCEPTANCE CORP reported three months ended March 31, 2024 results: net income $64.3 million, EPS $5.08 per diluted share.
  - Period: three months ended March 31, 2024
  - Net income: $64.3 million
  - EPS: $5.08 per diluted share
  - Result: reported results
  source text: On April 30, 2024, Credit Acceptance Corporation (the “Company”) issued a press release announcing its financial results for the three months ended March 31, 2024 and details for the related April 30, 2024 webcast.
  evidence_url: https://www.sec.gov/Archives/edgar/data/885550/000088555024000067/0000885550-24-000067-index.htm

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