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Credit Acceptance shares surge after Q1 net income rises 6%

Much of that is due to added “noise” so far this year, according to Credit Acceptance’s Chief Treasury Officer Doug Busk.

The company “had a tough (comparison) versus January of last year due to federal stimulus dollars,” Busk said in a Monday earnings call, according to a transcript.

“You know, comparing the rest of the quarter was a little bit difficult. February is very good. But I think there’s differences in the timing and tax season, and then in March we had another tough comp due to stimulus dollars last year,” Busk told analysts, saying he expects an upward trajectory for the start of the new quarter.

“There’s a bit of noise in the quarter … so I think that the April data point is a relevant one.”

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