Credit Acceptance reports Q3 adjusted EPS $10.28, consensus $9.45

Reports Q3 revenue $582.4M, consensus $592.84M. “We are pleased to report growth in adjusted EPS despite the challenging competitive landscape and difficult collection environment,” said Ken Booth, CEO of Credit Acceptance (CACC). “While we have continued to experience modest declines in loan performance, our business model is designed to produce acceptable returns in the aggregate even if loan performance is significantly worse than forecasted. We are also pleased with the investments that we have made over the last few years to modernize our loan originations system as we are now well positioned to make improvements significantly faster going forward.”