Credit Acceptance reports Q2 adjusted EPS $10.29, consensus $8.91

Reports Q2 revenue $538.2M, consensus $479.03M. The company said, “We have experienced increased levels of uncertainty associated with our estimate of the amount and timing of future net cash flows from our loan portfolio since the beginning of 2020, with realized collections underperforming our expectations during the early stages of the COVID-19 pandemic, outperforming our expectations following the distribution of federal stimulus payments and enhanced unemployment benefits, and underperforming our expectations during the current economic environment.”