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The stock market has been on a downswing throughout the fall. High interest rates, inflation, and geopolitical tensions are among the factors weighing on investor sentiment.
Higher expenses and provisions hurt Credit Acceptance's (CACC) Q3 earnings, while a rise in the top line offers some support.
Credit Acceptance Corporation (NASDAQ:CACC ) Q3 2023 Earnings Conference Call October 30, 2023 5:00 PM ET Company Participants Douglas Busk - Chief Treasury Officer Conference Call Participants John Rowan - Janney Montgomery Scott John Hecht - Jefferies Robert Wildhack - Autonomous Research Operator Good day, everyone and welcome to the Credit Acceptance Corporation Third Quarter 2023 Earnings Call. Today's call is being recorded.
The headline numbers for Credit Acceptance (CACC) give insight into how the company performed in the quarter ended September 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.
Credit Acceptance (CACC) came out with quarterly earnings of $5.43 per share, missing the Zacks Consensus Estimate of $6.59 per share. This compares to earnings of $6.49 per share a year ago.
Southfield, Michigan, Oct. 23, 2023 (GLOBE NEWSWIRE) -- Credit Acceptance Corporation (Nasdaq: CACC) (referred to as the “Company”, “Credit Acceptance”, “we”, “our”, or “us”) announced today that we expect to issue a news release with our third quarter 2023 earnings on Monday, October 30, 2023, after the market closes. A webcast is scheduled for Monday, October 30, 2023, at 5:00 p.m. Eastern Time to discuss third quarter 2023 earnings.
CACC, DADA and OXINF have been added to the Zacks Rank #5 (Strong Sell) List on October 23, 2023.
CLF, CACC and IFF have been added to the Zacks Rank #5 (Strong Sell) List on October 18, 2023.
Investors need to pay close attention to Credit Acceptance (CACC) stock based on the movements in the options market lately.
Credit Acceptance's (CACC) revenues will likely continue to improve, supported by the decent rise in dealer enrollments and active dealers. Yet, elevated costs might hurt profits.