Watch for continued loan volume trends and credit quality in upcoming quarters; the moderation in forecast declines is positive but not yet a clear inflection. No formal guidance was provided, so the market will focus on operating expense growth (up 4.2%) and the trajectory of unit volumes.
Price Chart
Executive Summary
Credit Acceptance reported Q1 2026 GAAP EPS of $12.40 ($135.8M net income) vs $8.66 a year ago, and adjusted EPS of $10.71 vs consensus $10.61 (slight beat). Revenue of $580.0M was in line with $580.8M consensus but up 1.6% YoY. Loan volumes declined 4.3%, but forecasted net cash flow declines moderated to $9.1M (0.1%), the smallest quarterly drop in three years. The results are mixed: strong GAAP earnings growth driven by lower credit provisions, but adjusted earnings only rose 2.2% and volumes remain under pressure.
Key Financial Metrics
Key Facts
- GAAP net income $135.8M, diluted EPS $12.40 vs $8.66 YoY
- Adjusted net income $117.3M, adjusted EPS $10.71 vs consensus $10.61
- Total revenue $580.0M, +1.6% YoY (consensus $580.8M)
- Loan assignment unit volume -4.3%, dollar volume -4.0% YoY
- Forecasted net cash flows declined $9.1M (0.1%), smallest quarterly drop in 3 years
- Share repurchases: 365,258 shares for $178.9M
- Record 10,977 active dealers in the quarter
Financial Impact
Revenue flat YoY, adjusted net income up 2.2%, GAAP net income up 27.8% due to lower credit provisions
Risk Factors
- Continued decline in loan assignment volumes (unit volume down for 5 consecutive quarters)
- Consumer credit deterioration could increase provision for credit losses
- Legal contingencies (cumulative $82.6M recognized) remain unresolved
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000885550-26-000079 |
| Document: cacc-20260505.htm | 0000885550-26-000079 |
| Document: 0000885550-26-000079-index-headers.html | 0000885550-26-000079 |
| Document: 0000885550-26-000079-index.html | 0000885550-26-000079 |
| Document: 0000885550-26-000079.txt | 0000885550-26-000079 |
| 8-K Data (Synthetic) | 0000885550-26-000079 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $545.04 | awaiting T+60 | — | $540.10 (−0.91%) |
Oct 6, 2026 20d ago | 144 | $536.58 | awaiting T+60 | — | $540.10 (+0.66%) |
Oct 1, 2026 26d ago | Court Ruling | $527.50 | awaiting T+60 | — | $540.10 (+2.39%) |
Sep 22, 2026 4w ago | Press Release | $555.13 | awaiting T+60 | — | $540.10 (−2.71%) |
Sep 18, 2026 5w ago | 8-K | $564.27 | awaiting T+60 | — | $540.10 (−4.28%) |
Sep 17, 2026 5w ago | Press Release | $590.41 | awaiting T+60 | — | $540.10 (−8.52%) |
Sep 15, 2026 5w ago | Press Release | $601.54 | awaiting T+60 | — | $540.10 (−10.21%) |
Sep 15, 2026 6w ago | Court Ruling | $601.54 | awaiting T+60 | — | $540.10 (−10.21%) |
Sep 4, 2026 7w ago | 8-K | $593.78 | awaiting T+60 | — | $540.10 (−9.04%) |
Aug 15, 2026 10w ago | Institutional Cluster | $573.09 | awaiting T+60 | — | $540.10 (−5.76%) |
US Market Status
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