credit acceptance corp reports shareholder voting results

Credit Acceptance Corp (NASDAQ:CACC), a $5.65 billion market cap company currently trading near its Fair Value according to InvestingPro analysis, conducted its Annual Meeting of Shareholders today, during which several key proposals were voted upon. According to a filing with the U.S. Securities and Exchange Commission, shareholders elected six directors who will serve until the 2026 annual meeting. The directors elected include Kenneth S. Booth, Glenda J. Flanagan, Vinayak R. Hegde, Sean E. Quinn, Thomas N. Tryforos, and Scott J. Vassalluzzo.

In addition to the board elections, shareholders approved the compensation of named executive officers on an advisory basis. This advisory vote is a non-binding approval of the company’s executive pay packages.

The meeting also included the ratification of Grant Thornton LLP as the independent registered public accounting firm for the fiscal year 2025. The ratification ensures that Grant Thornton LLP will continue to audit the company’s financial statements.

Voting results for the director elections showed significant support, with each nominee receiving over 5.7 million votes in favor. The advisory vote on executive compensation received 5,864,978 votes in favor, while the ratification of the accounting firm received 8,688,617 votes in favor.

The company, headquartered in Southfield, Michigan, specializes in providing personal credit services. Credit Acceptance Corp is listed on the Nasdaq Stock Market under the ticker symbol CACC.

This report is based on a press release statement filed with the SEC.

In other recent news, Credit Acceptance Corporation reported its first-quarter earnings for 2025, showing a mixed performance. The company posted an earnings per share (EPS) of $9.35, which fell short of the $9.66 forecasted by analysts. However, Credit Acceptance exceeded revenue expectations with $571.1 million, slightly above the forecast of $570.97 million. The loan portfolio reached a record $9.1 billion, reflecting a 10% increase year-over-year. Despite the EPS miss, the company’s stock rose by 2.58% in after-hours trading, suggesting investor confidence in its strategic investments and revenue growth. Analysts from TD Cowen and Autonomous Research raised questions during the earnings call about forecast changes and the impact of market volatility. The company remains cautious about economic volatility, including inflation and tariffs, while continuing to invest in technology and operations. Additionally, Credit Acceptance’s market share in the subprime financing segment decreased to 5.2% for the first two months of the year, compared to 6% in the same period last year.

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