Credit Acceptance Q2 Adj EPS $10.69 Beats $8.18 Estimate, Sales $477.90M Beat $463.86M Estimate
Portfolio Pulse from sunil@benzinga.com
Credit Acceptance (NASDAQ:CACC) reported Q2 earnings of $10.69 per share, beating the analyst consensus estimate of $8.18 by 30.68%. However, this is a 23.2% decrease from the same period last year. The company also reported quarterly sales of $477.90 million, beating the estimate of $463.86 million by 3.03%, and marking a 4.48% increase from last year.
August 04, 2023 | 10:33 am
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NEUTRAL IMPACT
Credit Acceptance's Q2 earnings and sales exceeded estimates, but earnings decreased compared to last year.
While Credit Acceptance beat earnings and sales estimates, the decrease in earnings compared to the same period last year may cause some investor concern. This mixed result could lead to a neutral short-term impact on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100