Credit Acceptance (CACC) Q3 2026 earnings summary

Executive summary

• Q3 Consumer Loan assignments rose 37.7% to 110,010 units and 51.0% to $1.4B; active Dealers reached a record 12,093, up 18.8% YoY.

• Economic Profit increased 17.9% to $50.7M, or $4.87 per diluted share; adjusted net income rose 14.9% to $135.5M, or $13.01 per diluted share.

• Q3 GAAP net loss was $56.6M, or $5.43 per diluted share, versus net income of $108.2M in Q3 2025; revised collection forecasts drove higher credit-loss provision.

Financial highlights

• Revenue increased 2.1% to $594.6M; finance charges rose 2.1% to $550.9M.

• Credit-loss provision rose 170.3% to $410.9M, including $281.9M on forecast changes and $129.0M on new assignments.

• Operating expenses declined 9.7% to $132.4M, while interest expense fell 7.8% to $107.2M.

• 9M net income was $215.1M, down 28.8% YoY; diluted EPS was $19.92 versus $25.50.

Outlook and guidance

• Q3 forecasting methodology enhancements incorporated added seasoning, performance history and more granular segmentation; forecasted net cash flows fell $291.2M, or 2.5%.

• Forecasted collection rates declined for 2022–2026 assignments; revised rates for 2022–2026 were 59.2%, 62.4%, 63.6%, 64.9% and 65.3%, respectively.

• Pricing and forecasting capabilities, customer focus, segmentation, data and AI remain central to maximizing long-term Economic Profit per share.