Credit Acceptance Corporation (CACC) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, everyone, and welcome to the Credit Acceptance Corporation third quarter 2025 earnings call. A webcast recording and transcript of today's earnings call will be made available on Credit Acceptance's website. At this time, I would like to turn the call over to Credit Acceptance Chief Financial Officer Jay Martin. Thank you. Good afternoon, and welcome to the Credit Acceptance Corporation third quarter 2025 earnings call. As you read our news release posted on the investor relations section of our website at ir.creditacceptance.com, and as you listen to this conference call, please recognize that both contain forward-looking statements within the meaning of federal securities law. These forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond our control and which could cause actual results to differ materially from such statements. These risks and uncertainties include those spelled out in the cautionary statement regarding forward-looking information included in the news release. Consider all forward-looking statements in light of those and other risks and uncertainties. Additionally, I should mention that to comply with the SEC's Regulation G, please refer to the Financial Results section of our news release, which provides tables showing how non-GAAP measures reconcile to GAAP measures. This time, I'll turn the call over to our Chief Executive Officer, Ken Booth, to discuss our third quarter results. Thanks, Jay. Our results for this quarter reflected steady execution with declines in loan performance and year-over-year originations volume balanced by a portfolio that remains at a record high. Loan performance declined this quarter with our 2022, 2023, and 2024 vintages underperforming our expectations and ou...