Credit Acceptance Corporation filed its Form 10-Q for the quarterly period ended September 30, 2026 with the Securities and Exchange Commission on October 29, 2026, reporting a net loss for the third quarter driven by a sharp increase in provisions for credit losses.

Key Highlights

  • Net loss of $56.6 million for the three months ended September 30, 2026, compared to net income of $108.2 million in the same quarter of 2025, according to the filing.
  • Total provision for credit losses of $410.9 million in Q3 2026, up from $152.0 million in Q3 2025, including $281.9 million attributed to forecast changes.
  • Total revenue of $594.6 million for Q3 2026, compared to $582.4 million in Q3 2025, with finance charges of $550.9 million the largest component.
  • Basic loss per share of $5.43 for Q3 2026, versus basic earnings per share of $9.62 in Q3 2025.
  • Loans receivable of $11,960.7 million as of September 30, 2026, with an allowance for credit losses of $3,833.5 million, yielding net loans receivable of $8,127.2 million.
  • Common shares outstanding of 10,137,465 as of October 22, 2026, down from 10,680,143 at December 31, 2025, reflecting repurchases of 897,371 shares totaling $481.9 million in the nine-month period.
  • Total shareholders' equity of $1,389.3 million as of September 30, 2026, compared to $1,523.6 million at December 31, 2025.

Credit Acceptance Q3 2026 Financial Results: Credit Loss Provisions Weigh on Earnings

According to the filing, Credit Acceptance Corporation (NASDAQ:CACC) reported a net loss of $56.6 million for the three months ended September 30, 2026, a reversal from net income of $108.2 million in the prior-year quarter. The primary driver, as disclosed, was a total provision for credit losses of $410.9 million in Q3 2026, which included $281.9 million from forecast changes and $129.0 million from new Consumer Loan assignments. This compared to a combined provision of $152.0 million in Q3 2025.

Total revenue for Q3 2026 was reported at $594.6 million, modestly higher than the $582.4 million recorded in Q3 2025. Finance charges rose to $550.9 million from $539.4 million year over year. Total operating expenses declined to $132.4 million from $146.6 million, with salaries and wages falling to $75.7 million from $85.5 million and general and administrative expenses dropping to $27.3 million from $36.3 million. For the nine months ended September 30, 2026, the company reported net income of $215.1 million, compared to $301.9 million in the same period of 2025.

On the balance sheet, total assets stood at $8,877.9 million as of September 30, 2026, versus $8,631.7 million at December 31, 2025. Total liabilities grew to $7,488.6 million from $7,108.1 million over the same period. The company repurchased 897,371 shares for $481.9 million during the nine months ended September 30, 2026, according to the shareholders' equity statement. Restricted cash and cash equivalents were $516.9 million, while unrestricted cash and cash equivalents fell to $1.3 million from $22.8 million at year-end 2025.

What Was Disclosed

Credit Acceptance Corporation disclosed its unaudited consolidated financial statements for Q3 and the nine months ended September 30, 2026, showing a quarterly net loss of $56.6 million, total provisions for credit losses of $410.9 million, total assets of $8,877.9 million, and 10,137,333 shares outstanding at period end.