Benzinga | Apr 29, 2021 04:26PM EDT

Credit Acceptance: Q1 Earnings Insights

Shares of Credit Acceptance (NASDAQ:CACC) fell in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share fell 0.21% year over year to $9.64, which beat the estimate of $7.92.

Revenue of $451,000,000 up by 15.91% year over year, which beat the estimate of $422,260,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Credit Acceptance hasn't issued any revenue guidance for the time being.

How To Listen To The Conference Call

Date: Apr 29, 2021

Time: 05:00 PM

ET Webcast URL: https://edge.media-server.com/mmc/p/xn5pwjse

Price Action

Company's 52-week high was at $539.00

52-week low: $266.74

Price action over last quarter: Up 13.46%

Company Description

Credit Acceptance Corp is a consumer finance company that specializes in automobile loans. These loans are offered through a U.S. nationwide network of automobile dealers that benefit from sales of vehicles to consumers who could otherwise not obtain financing. The company also benefits from repeat and referral sales, and from sales to customers responding to advertisements for financing, but qualify for traditional financing. The company derives its revenue from finance charges, premiums earned on the reinsurance of vehicle service contracts, and other fees. Of these, financing charges, including servicing fees, are by far the largest source of revenue.