Credit Acceptance (CACC) Q2 FY2024 earnings: revenue $538 million, up 12.6% on the year

Credit Acceptance Corp. (CACC) reported revenue of $538 million for Q2 FY2024, the quarter ended 30 June 2024, up 12.6% on the same quarter a year earlier. Net income was -$47 million, and diluted earnings per share $-3.83. The figures are the company's own, from the 10-Q it filed with the SEC on 31 July 2024.

Revenue$538 millionup 12.6%

Net income-$47 million

Diluted EPS$-3.83

QuarterQ2 FY2024ended 30 June 2024

The quarter, against the one before and a year earlier

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Revenue	538	508	n/a	n/a
Operating income	-55.3	86.4	n/a	n/a
Operating margin	-10.3%	17.0%	n/a
Interest expense	104	92.5	n/a	n/a
Pre-tax income	-55.3	86.4	n/a	n/a
Income tax	-8.2	22.1	n/a	n/a
Effective tax rate	n/a	25.6%	n/a
Net income	-47.1	64.3	n/a	n/a
Net margin	-8.8%	12.7%	n/a
Diluted EPS	-$3.83	$5.08	n/a	n/a

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Operating cash flow	204	310	n/a	n/a
Capital expenditure	0.4	0.3	n/a	n/a
Free cash flow	204	310	n/a	n/a
Free cash flow margin	37.8%	61.0%	n/a
Cash from investing	-526	-584	n/a	n/a
Cash from financing	272	371	n/a	n/a
Share-based compensation	10.6	10.9	n/a	n/a
Buybacks	60.8	191	n/a	n/a
Diluted shares, weighted	12m	13m	n/a	n/a
Shares outstanding at period end	12m	12m	n/a	n/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2024	Q1 FY2024	A year earlier	Change on the year
Shareholders' equity	1,555	1,652	n/a	n/a
Debt	990	990	n/a	n/a
Other liabilities	5,710	5,455	n/a	n/a
Total liabilities and equity	8,255	8,097	n/a	n/a
Fixed assets	16.1	44.6	n/a	n/a
Securities held for sale or to maturity	106	99.9	n/a	n/a
Loans	7,548	7,346	n/a	n/a
Cash and equivalents	8.3	8.4	n/a	n/a
Other assets	577	598	n/a	n/a
Total assets	8,255	8,097	n/a	n/a

Questions

What was Credit Acceptance's revenue in Q2 FY2024?

Credit Acceptance (CACC) reported revenue of $538 million for Q2 FY2024, the quarter ended 30 June 2024, up 12.6% on the same quarter a year earlier.

How much did Credit Acceptance earn in Q2 FY2024?

Net loss for Q2 FY2024 was $47 million, and the diluted loss per share $3.83.

When did Credit Acceptance report Q2 FY2024 results?

Credit Acceptance filed its 10-Q for the quarter ended 30 June 2024 with the SEC on 31 July 2024.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	479	492	508	538	550	566	571	584	582	580	580	587
Operating income	96.5	116	86.4	-55.3	106	192	142	118	149	157	175	169
Operating margin	20%	24%	17%	-10%	19%	34%	25%	20%	26%	27%	30%	29%
Interest expense	70.5	78.8	92.5	104	111	111	115	118	116	114	108	107
Pre-tax income	96.5	116	86.4	-55.3	106	192	142	118	149	157	175	169
Tax rate	27%	20%	26%	n/a	26%	21%	25%	26%	27%	22%	22%	19%
Net income	70.8	93.6	64.3	-47.1	78.8	152	106	87.4	108	122	136	136
Net margin	15%	19%	13%	-9%	14%	27%	19%	15%	19%	21%	23%	23%
Diluted EPS	$5.43	$7.29	$5.08	-$3.83	$6.35	$12.26	$8.66	$7.42	$9.43	$10.99	$12.40	$12.66
Operating cash flow	313	311	310	204	318	306	346	140	299	269	347	310
Capital expenditure	n/a	1.7	0.3	0.4	0.4	0.7	0.3	0.3	0.6	0.4	1.3	1.6
Free cash flow	n/a	310	310	204	317	306	346	139	299	269	346	308
Buybacks	126	53.6	191	60.8	0.0	61.4	164	262	107	191	179	141
Shares outstanding	13m	13m	12m	12m	12m	12m	12m	11m	11m	11m	10m	10m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 30 June 2024, filed 31 July 2024, accession 0000885550-24-000092: the filing on EDGAR. All of Credit Acceptance Corp.'s filings: EDGAR company page.

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