CACC Q2 2017 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

Q2 2017 Earnings

Reported July 31, 2017

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q2 2017	Q1 2017	Q2 2016	QoQ Change	YoY Change
Revenue	$276M	$262M	$226M	5.0%	21.8%
Op. Income	$157M	$144M	$122M	8.9%	28.0%
Gross Margin	75.1%	73.7%	72.8%	1.4pp	2.2pp
Net Margin	36.0%	35.6%	37.5%	0.4pp	-1.6pp
EPS (Diluted)	$5.09	$4.72	$4.17	7.8%	22.1%
Free Cash Flow	$97M	$159M	$136M	-38.8%	-28.3%

Revenue Flow

Item	Amount
REVENUE	$276M
Cost of Revenue	$69M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$14M
SG&A Expenses	$28M
Other Expenses	$22M
Operating Expenses	$50M
Cost & Expenses	$119M
OPERATING INCOME	$157M
Interest Income	$0
Interest Expense	$30M
Other Income/Expenses	$500.0K
INCOME BEFORE TAX	$157M
Income Tax Expense	$58M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$4M
EBIT	$157M
EBITDA	$161M
EPS	$5
EPS Diluted	$5

Income Statement

Item	Amount
REVENUE	$276M
Cost of Revenue	$69M
GROSS PROFIT	$207M
R&D Expenses	$0
Selling & Marketing	$14M
General & Administrative	$14M
SG&A Expenses	$28M
Other Expenses	$22M
Operating Expenses	$50M
Cost & Expenses	$119M
OPERATING INCOME	$157M
Interest Income	$0
Interest Expense	$30M
Other Income/Expenses	$500.0K
INCOME BEFORE TAX	$157M
Income Tax Expense	$58M
Net Income from Continuing Ops	$99M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$99M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$99M
D&A	$4M
EBIT	$157M
EBITDA	$161M
EPS	$5
EPS Diluted	$5

Cash Flow Statement

Item	Amount
Net Income	$99M
Depreciation & Amortization	$4M
Stock-Based Compensation	$3M
Deferred Income Tax	$11M
Other Non-Cash Items	$22M
Change in Working Capital	-$40M
OPERATING CASH FLOW	$99M
Capital Expenditure	-$2M
Acquisitions (Net)	$0
Purchases of Investments	-$8M
Sales/Maturities of Investments	$8M
Other Investing Activities	-$167M
NET CASH FROM INVESTING	-$168M
Net Debt Issuance	$111M
Common Stock Repurchased	-$18M
Common Dividends Paid	$0
Other Financing Activities	-$8M
NET CASH FROM FINANCING	$85M
FREE CASH FLOW	$97M
Net Change in Cash	$16M

Balance Sheet

Item	Amount
Cash & Equivalents	$27M
Short-Term Investments	$0
Net Receivables	$4.3B
Inventory	$47M
Other Current Assets	$315M
TOTAL CURRENT ASSETS	$4.6B
PP&E (Net)	$20M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$325M
Other Non-Current Assets	-$251M
TOTAL NON-CURRENT ASSETS	$94M
TOTAL ASSETS	$4.7B
Account Payables	$140M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	-$140M
TOTAL CURRENT LIABILITIES	$141M
Long-Term Debt	$3.0B
Deferred Revenue NC	-$3.5B
Deferred Tax Liabilities	$325M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$3.3B
TOTAL LIABILITIES	$3.5B
Common Stock	$200.0K
Additional Paid-In Capital	$136M
Retained Earnings	$1.1B
Treasury Stock	$0
Accum. Other Comp. Income	$0
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$4.7B
Total Debt	$3.0B
Net Debt	$3.0B