Credit Acceptance Q3 GAAP EPS $6.35 vs $5.43 YoY; adjusted EPS $8.79 vs $10.70

CREDIT ACCEPTANCE CORP

2024-Q3 EPS reported $7.68 revenue$1,596,500,000

GAAP net income $78.8M ($6.35/diluted share) vs $70.8M ($5.43) in Q3 2023.
Adjusted net income $109.1M ($8.79/diluted share) vs $139.5M ($10.70) YoY.
Forecasted collection rates declined $62.8M (0.6%) in Q3; consumer loan unit volume up 17.7%.
Average cost of debt rose to 7.3% from 5.8% a year ago, pressuring adjusted earnings.
Repurchased ~566K shares (4.5% of shares outstanding) since Q3 2023; none in Q3 2024.

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