Credit Acceptance Corporation(CACC)- NASDAQ
  • Thu, Sep. 22, 8:36 AM
    • CarMax slumped yesterday after disappointing FQ2 results, and Janney Capital's John Rowan say the trends evident in that report are concerning for subprime auto companies.
    • He notes a significant slowdown in subprime sales and that CarMax's own financing arm saw a jump in credit costs. The results, he says, support his cautious stance on the likes of Credit Acceptance (NASDAQ:CACC), Consumer Portfolio Services (NASDAQ:CPSS), America's Car-Mart (NASDAQ:CRMT), and Santander Consumer (NYSE:SC).
    | Thu, Sep. 22, 8:36 AM
  • Tue, Sep. 6, 10:15 AM
    | Tue, Sep. 6, 10:15 AM
  • Mon, Aug. 1, 5:37 PM
    | Mon, Aug. 1, 5:37 PM | 4 Comments
  • Fri, Jul. 29, 4:05 PM
    • Credit Acceptance (NASDAQ:CACC): Q2 EPS of $4.38 beats by $0.52.
    • Revenue of $238.5M (+17.4% Y/Y) beats by $6.13M.
    • Press Release
    | Fri, Jul. 29, 4:05 PM
  • Mon, Jun. 20, 1:00 PM
    | Mon, Jun. 20, 1:00 PM
  • Thu, Jun. 2, 12:20 PM
    • "Auto is clearly a little stretched, in my opinion," says JPMorgan (JPM -0.3%) CEO Jamie Dimon, speaking at a conference. "Someone is going to get hurt... we don't do much of that."
    • Speaking at the same conference, U.S. Bancorp (USB -0.3%) CEO Richard Davis calls the auto loan market "overheated" thanks to pricing competition .“It’s a business you have to watch through the cycles, and right now it is probably at its least attractive. But in what could be a day, a month or a year, it could be very attractive.”
    • Interested players: COF, SC, ALLY, CACC
    | Thu, Jun. 2, 12:20 PM | 20 Comments
  • Mon, May 2, 4:09 PM
    • Credit Acceptance (NASDAQ:CACC): Q1 EPS of $4.02 beats by $0.21.
    • Revenue of $227.9M (+17.4% Y/Y) beats by $3.84M.
    • Press Release
    | Mon, May 2, 4:09 PM
  • Thu, Apr. 7, 3:48 PM
    • An increasing number of securitizations from smaller subprime auto lenders who tend to cater to weaker-credit borrowers has boosted net losses on subprime ABS over the past few years, says Moody's, which ominously notes this is happening even with favorable economic conditions.
    • In echos of the MBS bust-up, several 2015 deals are experiencing high early losses.
    • See also from one month ago: Shades of subprime flash warning for auto sales
    • The two largest subprime auto ABS sponsors - AmeriCredit and Santander Drive (NYSE:SC) are losing market share to these smaller shops.
    • Source: Bloomberg's Charles Williams
    • Also monitoring: Credit Acceptance Corp. (NASDAQ:CACC).
    | Thu, Apr. 7, 3:48 PM
  • Mon, Mar. 21, 12:43 PM
    • There's been a lot of talk about an explosion in subprime lending, but 21.7% of all auto loans issued between Jan. and Nov. of last were subprime, says Equifax, right in the middle of the 21-22% range seen since 2012.
    • As for delinquencies, the 1.15% rate in January of 2016 was flat from one year ago. Loan write-offs did rise to 22.5 basis points in January 2016 from 20.7 bps a year ago. At their peak in March 2009, write-offs hit 50 bps. Severe delinquencies of 0.48% this year were higher by two basis points. Severe delinquencies to subprime borrowers rose to 2.15% from 2.06%.
    • Origingations, meanwhile, for the period from Jan-Nov 2015 rose 9.4% to 26.8M loans, and 12.4% to $554.8B from the same period a year earlier. They are the highest levels since Equifax began tracking the numbers in 2008.
    • Santander Consumer (SC +0.1%), Ally Financial (ALLY -0.3%), Credit Acceptance (CACC -3.5%)
    • Previously: Subprime auto worry hits lenders (March 15)
    | Mon, Mar. 21, 12:43 PM
  • Tue, Mar. 15, 10:40 AM
    • A weekend WSJ story about the 2007-like blowup of a subprime auto loan securitization continues to take its toll on Santander Consumer (NYSE:SC), down 7.8% today and 11.9% over the last two session.
    • Ally Financial (NYSE:ALLY) is down 2.3% since Monday morning.
    • Not necessarily auto-related, but certainly tied to the boom in less than prime lending, two-day losses for OneMain Holdings (NYSE:OMF8.1%, OnDeck Capital (NYSE:ONDK3.3%, Lending Club (NYSE:LC) 5.5%.
    • Credit Acceptance Corp (NASDAQ:CACC) is down 5.2%.
    | Tue, Mar. 15, 10:40 AM
  • Mon, Feb. 1, 4:24 PM
    • Credit Acceptance (NASDAQ:CACC): Q4 FFO of $4.00 beats by $0.25.
    • Revenue of $217.8M (+17.7% Y/Y) beats by $1.31M.
    | Mon, Feb. 1, 4:24 PM | 1 Comment
  • Oct. 29, 2015, 4:06 PM
    • Credit Acceptance (NASDAQ:CACC): Q3 EPS of $3.77 beats by $0.08.
    • Revenue of $210.2M (+15.7% Y/Y) beats by $2.76M.
    | Oct. 29, 2015, 4:06 PM
  • Jul. 29, 2015, 4:14 PM
    • Credit Acceptance (NASDAQ:CACC): Q2 EPS of $3.60 beats by $0.07.
    • Revenue of $203.1M (+13.0% Y/Y) beats by $7.6M.
    | Jul. 29, 2015, 4:14 PM
  • Apr. 29, 2015, 5:08 PM
    • Credit Acceptance (NASDAQ:CACC): Q1 EPS of $3.44 beats by $0.11.
    • Revenue of $181.2M (+13.7% Y/Y) misses by $7.43M.
    | Apr. 29, 2015, 5:08 PM
  • Oct. 29, 2014, 4:41 PM
    • Credit Acceptance (NASDAQ:CACC): Q3 EPS of $3.26 beats by $0.12.
    • Revenue of $166.9M (+7.3% Y/Y) misses by $14.8M.
    | Oct. 29, 2014, 4:41 PM
  • Sep. 18, 2014, 7:33 AM
    • The natural tendency of bureaucracies to expand is in evidence as the Consumer Finance Protection Bureau turns its eye to nonbank auto lenders. The CFPB plan would scrutinize whether these loan providers are discriminating against minorities, using deceptive tactics to in selling loans, and following debt-collection laws.
    • The finance divisions of major automakers are in the agency's sights, as are independent auto loan shops like Ally Financial (NYSE:ALLY), Santander Consumer (NYSE:SC), and Credit Acceptance Corporation (NASDAQ:CACC). Smaller and medium-sized players should expect relatively large increases in compliance costs.
    • The CFPB will soon put the proposal out there for 60 days of public comment.
    | Sep. 18, 2014, 7:33 AM