CACC Q3 2016 Earnings Report — Credit Acceptance Corporation Revenue & Financial Results | Market Cap Arena

Credit Acceptance CorporationCACC

Q3 2016 Earnings

Reported November 1, 2016

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	Q3 2016	Q2 2016	Q3 2015	QoQ Change	YoY Change
Revenue	$235M	$226M	—	3.8%	—
Op. Income	$125M	$122M	—	1.8%	—
Gross Margin	72.7%	72.8%	—	-0.2pp	—
Net Margin	36.6%	37.5%	—	-0.9pp	—
EPS (Diluted)	$4.21	$4.17	—	1.0%	—
Free Cash Flow	$134M	$136M	—	-1.0%	—

Revenue Flow

Item	Amount
REVENUE	$235M
Cost of Revenue	$64M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$11M
SG&A Expenses	$23M
Other Expenses	$23M
Operating Expenses	$46M
Cost & Expenses	$110M
OPERATING INCOME	$125M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$137M
Income Tax Expense	$51M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$4M
EBIT	$125M
EBITDA	$128M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$235M
Cost of Revenue	$64M
GROSS PROFIT	$171M
R&D Expenses	$0
Selling & Marketing	$12M
General & Administrative	$11M
SG&A Expenses	$23M
Other Expenses	$23M
Operating Expenses	$46M
Cost & Expenses	$110M
OPERATING INCOME	$125M
Interest Income	$0
Interest Expense	$25M
Other Income/Expenses	$12M
INCOME BEFORE TAX	$137M
Income Tax Expense	$51M
Net Income from Continuing Ops	$86M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$86M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$86M
D&A	$4M
EBIT	$125M
EBITDA	$128M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$86M
Depreciation & Amortization	$4M
Stock-Based Compensation	$2M
Deferred Income Tax	$16M
Other Non-Cash Items	$23M
Change in Working Capital	$5M
OPERATING CASH FLOW	$135M
Capital Expenditure	-$700.0K
Acquisitions (Net)	$0
Purchases of Investments	-$10M
Sales/Maturities of Investments	$2M
Other Investing Activities	-$245M
NET CASH FROM INVESTING	-$253M
Net Debt Issuance	-$29M
Common Stock Repurchased	$0
Common Dividends Paid	$0
Other Financing Activities	-$6M
NET CASH FROM FINANCING	-$35M
FREE CASH FLOW	$134M
Net Change in Cash	-$153M

Balance Sheet

Item	Amount
Cash & Equivalents	$6M
Short-Term Investments	$0
Net Receivables	$3.8B
Inventory	$47M
Other Current Assets	$235M
TOTAL CURRENT ASSETS	$4.0B
PP&E (Net)	$18M
Goodwill	$0
Intangible Assets	$0
Long-Term Investments	$0
Tax Assets	$281M
Other Non-Current Assets	-$216M
TOTAL NON-CURRENT ASSETS	$83M
TOTAL ASSETS	$4.1B
Account Payables	$134M
Short-Term Debt	$85M
Deferred Revenue	$2M
Other Current Liabilities	-$219M
TOTAL CURRENT LIABILITIES	$136M
Long-Term Debt	$2.5B
Deferred Revenue NC	-$2.9B
Deferred Tax Liabilities	$281M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$2.8B
TOTAL LIABILITIES	$2.9B
Common Stock	$200.0K
Additional Paid-In Capital	$130M
Retained Earnings	$1.0B
Treasury Stock	$0
Accum. Other Comp. Income	$300.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$1.2B
Minority Interest	$0
TOTAL EQUITY	$1.2B
TOTAL LIABILITIES & EQUITY	$4.1B
Total Debt	$2.5B
Net Debt	$2.5B