secwatch.observer — SEC 8-K summary
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Issuer:     CREDIT ACCEPTANCE CORP (CACC)
CIK:        0000885550
Form:       8-K
Filed at:   2024-10-30T23:59:59+00:00
Accession:  0000885550-24-000118
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000118/0000885550-24-000118-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/885550/000088555024000118/cacc-20241030.htm
  HTML page:      https://secwatch.observer/filing/0000885550-24-000118

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