Credit Acceptance Corp reports results for the quarter ended in June - Earnings Summary

Credit Acceptance

31/07/2024 22:22

* Credit Acceptance Corp  CACC.OQ  reported quarterly
adjusted
earnings of $10.29​​ per share for the quarter ended in June,
higher than the same quarter last year, when the company
reported EPS of $1.69.  The mean expectation of three analysts
for the quarter was for earnings of $8.91 per share. Wall Street
expected results to range from $8.87  to $8.94 per share.
    * Revenue rose 12.6% to $538.20 million from a year ago;
analysts
expected $479.03 million. 
    * Credit Acceptance Corp's reported EPS for the quarter was
a loss
of $3.83​.
    * The company reported a quarterly loss of $47.1 million.
    * Credit Acceptance Corp shares had risen by 12.9% this
quarter and gained 9.0% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had risen by
about 3.1%
in the last three months.​ 
    * In the last 30 days, there have been no negative revisions
of
earnings estimates

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the consumer
lending
peer group is also "hold"

Wall Street's median 12-month price target for Credit Acceptance
Corp is $449.00 
This summary was machine generated from LSEG data July 31 at
09:21 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024                     10.29          
 Mar. 31 2024      8.35           9.28           Beat
 Dec. 31 2023      5.43           7.29           Beat
 Sep. 30 2023      5.71           5.43           Missed