Earnings ·
Credit Acceptance reports Q3 net loss of $56.6M, or $5.43 per diluted share
CACCCredit Acceptance Corp
Credit Acceptance reported a consolidated net loss of $56.6 million, or $5.43 per diluted share, for the third quarter ended September 30, 2026, compared to net income of $108.2 million in the prior-year period. The decline was primarily driven by a $258.9 million increase in the provision for credit losses, reflecting downward adjustments to forecasted collection rates on recent loans and higher assignment volumes. Adjusted net income rose 14.9% to $135.5 million, or $13.01 per diluted share, while economic profit increased 17.9% to $50.7 million. Consumer loan assignment volume grew 37.7% year-over-year to 110,010 units and $1.4 billion in dollar volume. The company also completed a $600 million asset-backed financing and repurchased $161.6 million of shares during the quarter. Credit Acceptance provides financing solutions for subprime auto dealers.