CREDIT ACCEPTANCE CORP

Credit Acceptance Corporation has been recognized as one of PEOPLE Magazine's 100 Companies That Care® for the fifth consecutive year, achieving an 11th-place ranking, a 33-spot improvement from last year. This marks the fourth workplace award for the company this year, including its highest-ever ranking of 18th on Fortune's 2026 100 Best Companies to Work For® list. The company highlighted its commitment to community impact through various initiatives, such as packing over 138,000 meals, granting its 111th Make-A-Wish®, and raising a record $380,000 for charities at its annual Sales Leadership Exchange.

Credit Acceptance reported strong financial results for the first half of 2026, with net income increasing significantly to $271.7 million and diluted earnings per share reaching $25.04. Total revenue saw a modest increase to $1,167.4 million. The company also generated substantial net cash from operating activities and continued its share repurchase program.

Credit Acceptance Corporation announced strong financial results for the second quarter of 2026, with GAAP net income increasing 55.5% to $135.9 million and diluted EPS rising 70.6% to $12.66. Adjusted net income also saw a 10.0% increase to $130.1 million. The company reported consistent loan portfolio balances, a slight decline in consumer loan unit volume which returned to year-over-year growth in June, and significant progress in its digital-first, AI-enabled strategy, including a record number of active dealers.

Credit Acceptance Corporation announced strong second-quarter 2026 results, with GAAP net income rising 55.5% to $135.9 million and diluted EPS increasing 70.6% to $12.66. Adjusted net income also grew 10.0% to $130.1 million, with adjusted diluted EPS up 20.6% to $12.12. The company repurchased $141.4 million in shares and saw economic profit increase by 25.8%, driven by improved profitability and strategic advancements in its digital-first, AI-enabled strategy.

Credit Acceptance Corp announced it expects to release its second quarter 2026 earnings on Tuesday, August 4, 2026, after market close. A webcast to discuss these earnings is scheduled for the same day at 5:00 p.m. Eastern Time. Investors can access the webcast live or via replay on the company's investor relations website, with telephone access requiring pre-registration for Q&A.

Credit Acceptance Corporation announced significant leadership changes to advance its digital-first strategy. Siddharth Lal has been appointed Chief Marketing Officer, also taking responsibility for Product. The company plans to announce a new Chief Technology Officer in late August. Concurrently, Andrew Rostami, Chief Product and Marketing Officer, and Ravi Mohan, Chief Technology Officer, will step down effective August 14, 2026. Additionally, Kenneth Booth retired from the company's Board of Directors, reducing the board size from six to five members.

Credit Acceptance Corporation announced that its Chief Technology Officer, Ravi Mohan, mutually agreed to resign from his position, effective August 14, 2026. Mr. Mohan will officially separate from the company on October 25, 2026. As part of a separation and advisory agreement, he will retain the opportunity to vest in his restricted stock units and stock options and will receive a monthly consulting fee of $64,375 for an advisory period extending until February 14, 2027.

Credit Acceptance Corporation announced that Kenneth S. Booth resigned from its Board of Directors, effective July 21, 2026. Mr. Booth confirmed that his resignation was not a result of any disagreement with the company, its management, or the Board. In response to his departure, the Board reduced its size from six to five directors.

Credit Acceptance Corporation announced a change in its Chief Financial Officer role. Jay D. Martin will retire effective July 27, 2026, after 23 years with the company, and will transition to a consulting role until August 31, 2026. Joseph Billante has been appointed as the new CFO, effective July 27, 2026. Mr. Billante's compensation package includes a base salary, signing bonus, and restricted stock units. He brings extensive experience from previous roles at Barracuda Networks, eBay, and General Electric.

Credit Acceptance Corporation announced the extension of its revolving secured line of credit facility with a commercial bank syndicate. The maturity date has been moved from June 22, 2028, to June 22, 2029. Additionally, the interest rate on borrowings under the facility was reduced from SOFR plus 197.5 basis points to SOFR plus 175 basis points. As of June 9, 2026, the company had $270.5 million outstanding under this facility.