8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): January 24, 2007

AmeriCredit Corp.

(Exact name of registrant as specified in its charter)

Texas	1-10667	75-2291093
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

801 Cherry Street, Suite 3900, Fort Worth, Texas 76102

(Address of principal executive offices, including Zip Code)

(817) 302-7000

(Registrant’s telephone number, including area code)

(Not Applicable)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. Results of Operations and Financial Condition

On January 24, 2007, AmeriCredit Corp. (the “Company”) issued a press release announcing the results of operations for the quarter ended December 31, 2006. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

The Company will conduct its quarterly conference call January 24, 2007, at 5:30 p.m. Eastern Time. Interested persons may register to listen to the call at the Company’s website, www.americredit.com, under “Investors,” “Conference Calls.” The call will also be available on demand at this website.

This information furnished in this Item 2.02, including the Exhibit attached hereto, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, regardless of any general incorporation language in such filing.

ITEM 9.01. Financial Statements and Exhibits

(c) Exhibits

The following exhibit is filed herewith:

Exhibit No.	Description of Exhibit
99.1.	Press Release dated January 24, 2007, entitled “AmeriCredit Reports Second Quarter Operating Results”

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		AmeriCredit Corp.
		(Registrant)
Date: January 24, 2007	By:	/s/ CHRIS A. CHOATE
		Chris A. Choate
		Executive Vice President, Chief Financial Officer and Treasurer

INDEX TO EXHIBITS

Exhibit No.	Exhibit
99.1	Press Release dated January 24, 2007, entitled “AmeriCredit Reports Second Quarter Operating Results”

EX-99.1

Exhibit 99.1

AMERICREDIT REPORTS SECOND QUARTER OPERATING RESULTS

• Quarterly loan originations increased 30% from the prior year

• 2^nd quarter earnings of $95 million, $0.74 per share

• FY07 earnings guidance updated

FORT WORTH, TEXAS January 24, 2007 – AMERICREDIT CORP. (NYSE: ACF) today announced net income of $95 million, or $0.74 per share, for its fiscal second quarter ended December 31, 2006. AmeriCredit reported net income of $87 million, or $0.59 per share, for the same period a year earlier. For the six months ended December 31, 2006, AmeriCredit reported net income of $170 million, or $1.27 per share, versus earnings of $141 million, or $0.93 per share, for the six months ended December 31, 2005.

Net income for the three and six months ended December 31, 2006, included a $23 million after-tax gain ($36 million pre-tax), or $0.18 per share and $0.17 per share, respectively, related to the partial sale of AmeriCredit’s investment in DealerTrack Holdings, Inc. Net income for all periods ended December 31, 2005, included a $6 million after-tax gain ($9 million pre-tax), or $0.04 per share, related to the partial sale of AmeriCredit’s investment in DealerTrack Holdings, Inc.

Automobile loan purchases increased to $1.74 billion for the second quarter of fiscal year 2007, compared to $1.34 billion for the same period last year. Loan purchases for the six months ended December 31, 2006, were $3.42 billion compared to $2.86 billion for the same period a year earlier. Managed receivables totaled $12.58 billion at December 31, 2006, compared to $11.00 billion at December 31, 2005.

Annualized net charge-offs totaled 5.8% of average managed receivables for the December 2006 quarter compared to 5.9% for the December 2005 quarter. For the six months ended December 31, 2006, annualized net charge-offs were 5.6% compared to 5.8% for the same period last year.

Managed auto receivables 31-to-60 days delinquent were 6.7% of the portfolio at December 31, 2006, compared to 6.5% at December 31, 2005. Accounts more than 60 days delinquent were 2.6% of the portfolio at December 31, 2006, compared to 2.8% at December 31, 2005.

“With the broader product spectrum provided by our recent acquisitions and solid origination trends coming out of the first half of our fiscal year, we are well positioned to take advantage of the seasonally strong March and June quarters,” said President and Chief Executive Officer Dan Berce.

Regulation FD

Pursuant to Regulation FD, the Company provides its expectations regarding future business trends to the public via a press release or 8-K filing. The Company anticipates some risks and uncertainties with its business.

The following net income and earnings per share forecasts have been updated from guidance provided on October 24, 2006, to reflect the impact of the acquisition of Long Beach Acceptance Corp. on January 1, 2007, and a pre-tax gain of $16 million on the sale of the Company’s remaining investment in DealerTrack Holdings, Inc., in January 2007.

Net income and EPS forecasts

	Revised Fiscal year ending June 30, 2007	Previous Fiscal year ending June 30, 2007
Net income ($ millions)	$337 - $367	$325 - $355
Earnings per share	$2.54 - $2.74	$2.45 - $2.65

The forecasts for fiscal year 2007 incorporate, but are not limited to, the following assumptions, which include Long Beach:

• New loan origination volume of $7.8 to $8.4 billion;

• Net interest margin of 11.6% to 12.6% of average receivables;

• Operating expenses of 2.8% to 3.2% of the portfolio;

• Credit losses to average between 4.3% and 5.3% overall for the fiscal year, but varying seasonally by quarter; and

• Annualized provision for loan losses as a percent of average receivables to range between 4.8% and 5.8%.

These forecasts do not include any future share repurchase activity.

AmeriCredit will host a conference call for analysts and investors today at 5:30 P.M. Eastern Time. For a live Internet broadcast of this conference call, please go to the Company’s Web site to register, download and install any necessary audio software. For those who cannot listen to the live broadcast, a replay will be available shortly after the call.

About AmeriCredit

AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly through auto dealers and directly to consumers in the United States and Canada. AmeriCredit has over one million customers and approximately $14 billion in managed auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For more information, visit www.americredit.com.

Except for the historical information contained herein, the matters discussed in this news release include forward-looking statements that involve risks and uncertainties detailed from time to time in the Company’s filings and reports with the Securities and Exchange Commission including the Company’s annual report on Form 10-K for the year ended June 30, 2006. Such risks include – but are not limited to – variable economic conditions, adverse portfolio performance, volatile wholesale values, reliance on warehouse financing and capital markets, the ability to continue to securitize its loan portfolio, the continued availability of credit enhancement for its securitization transactions on acceptable terms, fluctuating interest rates, increased competition, the ability to integrate operational and strategic platforms, regulatory changes and exposure to litigation. These forward-looking statements are based on the beliefs of the Company’s management as well as assumptions made by and information currently available to Company management. Actual events or results may differ materially.

AmeriCredit Corp.

Consolidated Income Statements

(Unaudited, Dollars in Thousands, Except Per Share Amounts)

	Three Months Ended December 31,				Six Months Ended December 31,
	2006		2005		2006		2005
Revenue:
Finance charge income	$	502,217	$	394,075	$	986,574	$	767,811
Servicing income		979		21,445		8,438		46,786
Other income		72,440		32,608		104,245		53,794
		575,636		448,128		1,099,257		868,391
Costs and expenses:
Operating expenses		94,095		83,919		182,383		161,784
Provision for loan losses		174,800		125,865		348,705		291,725
Interest expense		155,860		101,179		299,331		191,450
Restructuring charges		77		93		386		252
		424,832		311,056		830,805		645,211
Income before income taxes		150,804		137,072		268,452		223,180
Income tax provision		55,378		50,498		98,790		82,573
Net income	$	95,426	$	86,574	$	169,662	$	140,607
Earnings per share:
Basic	$	0.82	$	0.65	$	1.41	$	1.02
Diluted	$	0.74	$	0.59	$	1.27	$	0.93
Weighted average shares		115,834,752		133,701,322		120,518,553		138,218,408
Weighted average shares and assumed incremental shares		130,153,556		148,325,483		134,935,826		152,958,115

Consolidated Balance Sheets

(Unaudited, Dollars in Thousands)

	December 31, 2006		June 30, 2006		December 31, 2005
Cash and cash equivalents	$	897,386	$	513,240	$	586,145
Finance receivables, net		11,857,385		11,097,008		9,264,566
Credit enhancement assets		6,061		104,624		291,148
Restricted cash - securitization notes payable		865,591		860,935		698,321
Restricted cash - warehouse credit facilities		149,173		140,042		526,300
Property and equipment, net		54,796		57,225		59,332
Deferred income taxes		99,657		78,789		41,705
Other assets		183,211		216,002		268,876
Total assets	$	14,113,260	$	13,067,865	$	11,736,393
Warehouse credit facilities	$	2,400,881	$	2,106,282	$	1,232,907
Securitization notes payable		8,907,498		8,518,849		7,875,604
Senior notes		—		—		153,791
Convertible debt		750,000		200,000		200,000
Funding payable		56,484		54,623		225,801
Accrued taxes and expenses		141,548		155,799		114,756
Other liabilities		14,212		23,426		13,254
Total liabilities		12,270,623		11,058,979		9,816,113
Shareholders’ equity		1,842,637		2,008,886		1,920,280
Total liabilities and shareholders’ equity	$	14,113,260	$	13,067,865	$	11,736,393

Consolidated Statements of Cash Flows

(Unaudited, Dollars in Thousands)

	Three Months Ended December 31,						Six Months Ended December 31,
	2006			2005			2006			2005
Cash flows from operating activities:
Net income	$	95,426		$	86,574		$	169,662		$	140,607
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		13,419			9,055			19,497			18,129
Accretion and amortization of loan fees		(6,472	)		(4,533	)		(13,959	)		(6,748	)
Provision for loan losses		174,800			125,865			348,705			291,725
Deferred income taxes		10,109			7,025			3,568			(2,084	)
Accretion of present value discount		(664	)		(10,995	)		(5,955	)		(22,658	)
Stock-based compensation expense		5,435			5,095			9,321			9,298
Gain on sale of available for sale securities		(36,196	)		(8,847	)		(36,196	)		(8,847	)
Other		498			(435	)		2,446			(689	)
Changes in assets and liabilities:
Other assets		39,127			1,544			3,305			9,910
Accrued taxes and expenses		(24,780	)		(30,903	)		(13,355	)		(19,047	)
Net cash provided by operating activities		270,702			179,445			487,039			409,596
Cash flows from investing activities:
Purchase of receivables		(1,950,000	)		(1,524,704	)		(3,740,828	)		(3,146,643	)
Principal collections and recoveries on receivables		1,300,174			976,241			2,631,281			1,952,779
Distributions from gain on sale Trusts		16,692			110,655			92,709			253,673
Net (purchases) sales of property and equipment		(1,937	)		(1,347	)		(3,001	)		32,558
Proceeds from sale of available for sale securities		44,300			11,992			44,300			11,992
Net change in restricted cash and other		1,092,985			(277,819	)		(11,812	)		(132,258	)
Net cash provided (used) by investing activities		502,214			(704,982	)		(987,351	)		(1,027,899	)
Cash flows from financing activities:
Net change in warehouse credit facilities		429,786			128,167			294,599			241,933
Net change in securitization notes payable		(1,174,637	)		498,090			386,773			708,475
Net change in senior notes and other		1,406			(18,132	)		(11,393	)		(21,817	)
Proceeds from issuance of convertible debt		—			—			497,376			—
Repurchase of common stock		—			(194,815	)		(323,964	)		(398,929	)
Proceeds from issuance of common stock		29,206			5,774			43,226			9,181
Net cash (used) provided by financing activities		(714,239	)		419,084			886,617			538,843
Net increase (decrease) in cash and cash equivalents		58,677			(106,453	)		386,305			(79,460	)
Effect of Canadian exchange rate changes on cash and cash equivalents		(2,058	)		122			(2,159	)		2,104
Cash and cash equivalents at beginning of period		840,767			692,476			513,240			663,501
Cash and cash equivalents at end of period	$	897,386		$	586,145		$	897,386		$	586,145

Other Financial Data

(Unaudited, Dollars in Thousands)

	Three Months Ended December 31,				Six Months Ended December 31,
	2006		2005		2006		2005
Loan originations	$	1,740,767	$	1,339,526	$	3,424,736	$	2,859,672
Loans securitized		601,800		1,513,514		2,975,741		2,702,705
Average on-book receivables	$	12,392,922	$	9,573,416	$	12,173,441	$	9,312,002
Average gain on sale receivables		58,069		1,445,804		181,432		1,708,097
Average managed receivables	$	12,450,991	$	11,019,220	$	12,354,873	$	11,020,099

	December 31, 2006		June 30, 2006		December 31, 2005
On-book receivables	$	12,548,925	$	11,775,665	$	9,873,603
Gain on sale receivables		34,083		421,037		1,125,188
Managed receivables	$	12,583,008	$	12,196,702	$	10,998,791

	Three Months Ended December 31,						Six Months Ended December 31,
	2006			2005			2006			2005
Operating expenses	$	94,095		$	83,919		$	182,383		$	161,784
Operating expenses as a percent of average managed receivables		3.0	%		3.0	%		2.9	%		2.9	%
Tax rate		36.72	%		36.84	%		36.80	%		37.00	%

	December 31, 2006		June 30, 2006		December 31, 2005
Loan delinquency:
On-book:
(% of ending on-book receivables)
31 - 60 days	6.7	%	5.0	%	6.0	%
Greater than 60 days	2.6		2.0		2.5
Total	9.3	%	7.0	%	8.5	%
Gain on sale:
(% of ending gain on sale receivables)
31 - 60 days	1.3	%	9.2	%	11.1	%
Greater than 60 days	0.3		3.8		5.2
Total	1.6	%	13.0	%	16.3	%
Total portfolio:
(% of ending managed receivables)
31 - 60 days	6.7	%	5.1	%	6.5	%
Greater than 60 days	2.6		2.1		2.8
Total	9.3	%	7.2	%	9.3	%

	Three Months Ended December 31,				Six Months Ended December 31,
	2006		2005		2006		2005
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding:
On-book (% of average on-book receivables)	6.8	%	6.4	%	6.5	%	6.4	%
Gain on sale (% of average gain on sale receivables)	1.3	%	9.5	%	3.5	%	10.1	%
Total portfolio (% of average managed receivables)	6.7	%	6.8	%	6.5	%	7.0	%

	Three Months Ended December 31,						Six Months Ended December 31,
	2006			2005			2006			2005
Net charge-offs:
On-book	$	183,153		$	128,343		$	345,017		$	237,516
Gain on sale		284			36,657			4,816			84,639
	$	183,437		$	165,000		$	349,833		$	322,155
Net charge-offs as a percent of average receivables:
On-book		5.9	%		5.3	%		5.6	%		5.1	%
Gain on sale		1.9	%		10.1	%		5.3	%		9.8	%
Total portfolio		5.8	%		5.9	%		5.6	%		5.8	%
Net recoveries as a percent of gross repossession charge-offs:
On-book		48.8	%		48.0	%		48.8	%		47.8	%
Gain on sale		42.9	%		40.8	%		43.5	%		40.3	%
Total portfolio		48.8	%		46.4	%		48.7	%		45.8	%

	December 31, 2006			June 30, 2006			December 31, 2005
On-book receivables:
Principal	$	12,548,925		$	11,775,665		$	9,873,603
Allowance for loan losses and nonaccretable acquisition fees		(691,540	)		(678,657	)		(609,037	)
	$	11,857,385		$	11,097,008		$	9,264,566
Allowance as a percentage of on-book receivables		5.5	%		5.8	%		6.2	%

The Company’s net margin as reflected on the consolidated statements of income, excluding a $36 million and a $9 million pre-tax gain on the partial sale of the Company’s investment in DealerTrack Holdings, Inc., realized during the three and six months ended December 31, 2006 and 2005, respectively, is as follows:

	Three Months Ended December 31,						Six Months Ended December 31,
	2006			2005			2006			2005
Finance charge income	$	502,217		$	394,075		$	986,574		$	767,811
Other income		36,244			23,761			68,049			44,947
Interest expense		(155,860	)		(101,179	)		(299,331	)		(191,450	)
Net margin	$	382,601		$	316,657		$	755,292		$	621,308

	Three Months Ended December 31,				Six Months Ended December 31,
	2006		2005		2006		2005
Finance charge income	16.1	%	16.3	%	16.1	%	16.3	%
Other income	1.1		1.0		1.1		1.0
Interest expense	(5.0	)	(4.2	)	(4.9	)	(4.1	)
Net margin as a percent of average on-book receivables	12.2	%	13.1	%	12.3	%	13.2	%

The following table provides additional information for comparative purposes related to the Company’s acquisition of Bay View Acceptance Corporation on May 1, 2006:

	Three Months Ended December 31, 2006						Six Months Ended December 31, 2006
	AmeriCredit Core			Total			AmeriCredit Core			Total
Originations	$	1,611,250		$	1,740,767		$	3,161,247		$	3,424,736
Average managed receivables	$	11,586,422		$	12,450,991		$	11,511,977		$	12,354,873
Net charge-offs	$	181,157		$	183,437		$	345,505		$	349,833
Net charge-offs as a percent of average receivables		6.2	%		5.8	%		6.0	%		5.6	%
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding		7.2	%		6.7	%		6.9	%		6.5	%
Net margin	$	374,210		$	382,601		$	739,196		$	755,292
Net margin as a percent of average on-book receivables		12.8	%		12.2	%		12.9	%		12.3	%

	December 31, 2006
	AmeriCredit Core			Total
Managed receivables	$	11,697,310		$	12,583,008
Loan delinquency:
(% of ending managed receivables)
31 - 60 days		7.2	%		6.7	%
Greater than 60 days		2.7			2.6
Total		9.9	%		9.3	%
Allowance as a percentage of on-book receivables		5.8	%		5.5	%

Contact:

Investor Relations	Media Relations
Caitlin DeYoung	John Hoffmann
(817) 302-7394	(817) 302-7627