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News Review: Credit Acceptance Corporation (Nasdaq: CACC)

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2 years ago

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Credit Acceptance Corporation (Nasdaq: CACC)  today publicized consolidated net income of $177.10M, or $9.1 for each diluted share, for the three months finished December 31, 2017 compared to consolidated net income of $87.60M, or $4.330 for each diluted share, for the similar period in 2016.

For the year finished December 31, 2017, consolidated net income was $470.20M, or $24.040 for each diluted share, compared to consolidated net income of $332.80M, or $16.310 for each diluted share, for the similar period in 2016.

Our GAAP financial results reflect the enactment of the Tax Cuts and Jobs Act in December 2017, which increased consolidated net income by $99.80M, or $5.130 and $5.1 for each diluted share, respectively, for the three months and year finished December 31, 2017.

Adjusted net income, a non-GAAP financial measure, for the three months finished December 31, 2017, was $100.50M, or $5.160 for each diluted share, compared to $96.70M, or $4.790 for each diluted share, for the similar period in 2016.

For the year finished December 31, 2017, adjusted net income was $399.80M, or $20.440 for each diluted share, compared to adjusted net income of $360.60M, or $17.670 for each diluted share, for the similar period in 2016.

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