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): April 30, 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 April 30, 2007, AmeriCredit Corp. (the “Company”) issued a press release announcing the results of operations for the quarter ended March 31, 2007. 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 April 30, 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 April 30, 2007, entitled “AmeriCredit Reports Third 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: April 30, 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 April 30, 2007, entitled “AmeriCredit Reports Third Quarter Operating Results”

EX-99.1

Exhibit 99.1

AMERICREDIT REPORTS THIRD QUARTER OPERATING RESULTS

• 3^rd quarter earnings of $104 million, $0.80 per share

• Quarterly origination volume increased to $2.52 billion

• Charge-offs declined to 4.6%

• FY08 earnings guidance issued

FORT WORTH, TEXAS April 30, 2007 – AMERICREDIT CORP. (NYSE: ACF) today announced net income of $104 million, or $0.80 per share, for its fiscal third quarter ended March 31, 2007. AmeriCredit reported net income of $87 million, or $0.60 per share, for the same period a year earlier. For the nine months ended March 31, 2007, AmeriCredit reported net income of $273 million, or $2.06 per share, versus earnings of $227 million, or $1.53 per share, for the nine months ended March 31, 2006. Operating results for the three and nine months ended March 31, 2007, included Bay View Acceptance Corporation, acquired on May 1, 2006, and Long Beach Acceptance Corp. since its acquisition on January 1, 2007.

Net income for the three months ended March 31, 2007, included a $10 million after-tax gain ($16 million pre-tax), or $0.08 per share, related to the sale of AmeriCredit’s investment in DealerTrack Holdings, Inc., and a $21 million, or $0.16 per share, adjustment to reserves for contingent tax positions. Net income for the nine months ended March 31, 2007 and 2006, included a $33 million after-tax gain ($52 million pre-tax), or $0.25 per share, and a $6 million after-tax gain ($9 million pre-tax), or $0.04 per share, respectively, related to the sale of AmeriCredit’s investment in DealerTrack Holdings, Inc.

Automobile finance originations increased to $2.52 billion for the third quarter of fiscal year 2007, compared to $1.61 billion for the same period last year. Origination volume for the nine months ended March 31, 2007, was $5.94 billion compared to $4.47 billion for the same period a year earlier. Managed receivables totaled $15.15 billion at March 31, 2007, compared to $11.13 billion at March 31, 2006.

Annualized net charge-offs totaled 4.6% of average managed receivables for the March 2007 quarter compared to 5.2% for the March 2006 quarter. For the nine months ended March 31, 2007, annualized net charge-offs were 5.2% compared to 5.6% for the same period last year.

Managed auto receivables 31-to-60 days delinquent were 4.1% of the portfolio at March 31, 2007, compared to 4.7% at March 31, 2006. Accounts more than 60 days delinquent were 1.5% of the portfolio at March 31, 2007, compared to 1.6% at March 31, 2006.

“Our strong origination volume and improved credit results this quarter reflected both the normal seasonal lifts and the impact of our transition to full-spectrum lending. Full-spectrum lending provides an opportunity to efficiently originate an optimal mix of business and positions us to continue to grow our business, manage credit volatility and generate solid returns for our shareholders,” 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.

Net income and EPS forecasts

	Fiscal year ending June 30, 2008
Net income ($ millions)	$	345 - $375
Earnings per share	$	2.65 - $2.85

The forecasts include the results of Long Beach Acceptance Corp. for fiscal year 2008. The Company completed this acquisition on January 1, 2007. Long Beach Acceptance Corp. provides financing to customers with near prime credit scores. Therefore, its net interest margin and credit losses are historically lower than AmeriCredit’s. The forecasts for fiscal year 2008 incorporate, but are not limited to, the following assumptions:

• Origination volume of $10.0 to $10.5 billion;

• Net interest margin of 10.5% to 11.5% of average receivables;

• Operating expenses of 2.6% to 3.0% of the portfolio;

• Credit losses to average between 4.0% and 5.0% 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 4.5% and 5.5%.

These forecasts do not assume 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 $15 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, regulatory changes, the high degree of risk associated with subprime borrowers, acquisition integration 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				Nine Months Ended
	March 31,				March 31,
	2007		2006		2007		2006
Revenue:
Finance charge income	$	564,104	$	414,440	$	1,550,678	$	1,182,251
Servicing income		571		15,006		9,009		61,792
Other income		50,598		25,658		154,843		79,452
		615,273		455,104		1,714,530		1,323,495
Costs and expenses:
Operating expenses		109,446		89,686		291,829		251,470
Provision for loan losses		189,028		118,769		537,733		410,494
Interest expense		186,610		107,106		485,941		298,556
Restructuring charges		757		1,874		1,143		2,126
		485,841		317,435		1,316,646		962,646
Income before income taxes		129,432		137,669		397,884		360,849
Income tax provision		25,700		50,937		124,490		133,510
Net income	$	103,732	$	86,732	$	273,394	$	227,339
Earnings per share:
Basic	$	0.88	$	0.67	$	2.29	$	1.68
Diluted	$	0.80	$	0.60	$	2.06	$	1.53
Weighted average shares		117,540,639		129,629,967		119,539,921		135,397,387
Weighted average shares and assumed incremental shares		131,166,057		144,954,396		133,693,242		150,332,001

Consolidated Balance Sheets

(Unaudited, Dollars in Thousands)

	March 31, 2007		June 30, 2006		March 31, 2006
Cash and cash equivalents	$	615,395	$	513,240	$	700,800
Finance receivables, net		14,367,447		11,097,008		9,770,018
Credit enhancement assets		5,977		104,624		203,208
Restricted cash – securitization notes payable		1,144,173		860,935		803,110
Restricted cash – credit facilities		194,693		140,042		101,981
Property and equipment, net		63,393		57,225		58,343
Deferred income taxes		153,521		78,789		60,795
Goodwill		200,497		14,435		—
Other assets		139,815		201,567		209,981
Total assets	$	16,884,911	$	13,067,865	$	11,908,236
Credit facilities	$	3,004,774	$	2,106,282	$	1,435,134
Securitization notes payable		10,883,909		8,518,849		7,867,074
Senior notes		—		—		153,869
Convertible debt		750,000		200,000		200,000
Funding payable		93,170		54,623		54,559
Accrued taxes and expenses		188,984		155,799		160,899
Other liabilities		14,404		23,426		20,998
Total liabilities		14,935,241		11,058,979		9,892,533
Shareholders’ equity		1,949,670		2,008,886		2,015,703
Total liabilities and shareholders’ equity	$	16,884,911	$	13,067,865	$	11,908,236

Consolidated Statements of Cash Flows

(Unaudited, Dollars in Thousands)

	Three Months Ended March 31,						Nine Months Ended March 31,
	2007			2006			2007			2006
Cash flows from operating activities:
Net income	$	103,732		$	86,732		$	273,394		$	227,339
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization		4,528			9,506			24,025			27,635
Accretion and amortization of loan fees		(3,307	)		(5,787	)		(17,266	)		(12,535	)
Provision for loan losses		189,028			118,769			537,733			410,494
Deferred income taxes		(25,754	)		(20,028	)		(22,186	)		(22,112	)
Accretion of present value discount		(439	)		(8,029	)		(6,394	)		(30,687	)
Stock-based compensation expense		5,054			3,392			14,375			12,690
Gain on sale of available for sale securities		(15,801	)		—			(51,997	)		(8,847	)
Other		1,273			1,003			3,719			314
Changes in assets and liabilities:
Other assets		23,869			73,385			27,174			83,295
Accrued taxes and expenses		17,840			47,509			4,485			28,462
Net cash provided by operating activities		300,023			306,452			787,062			716,048
Cash flows from investing activities:
Purchase of receivables		(2,542,356	)		(1,947,168	)		(6,283,184	)		(5,093,811	)
Principal collections and recoveries on receivables		1,621,219			1,156,337			4,252,500			3,109,116
Distributions from gain on sale Trusts		248			92,463			92,957			346,136
Net (purchases) sales of property and equipment		(9,736	)		(2,004	)		(12,737	)		30,554
Proceeds from sale of available for sale securities		18,661			—			62,961			11,992
Acquisition of Long Beach, net of cash acquired		(257,813	)		—			(257,813	)		—
Net change in restricted cash and other		(197,472	)		320,092			(209,284	)		187,834
Net cash used by investing activities		(1,367,249	)		(380,280	)		(2,354,600	)		(1,408,179	)
Cash flows from financing activities:
Net change in credit facilities		401,371			202,227			695,970			444,160
Net change in securitization notes payable		384,858			(8,491	)		771,631			699,984
Net change in senior notes and other		(3,878	)		3,093			(15,271	)		(18,724	)
Proceeds from issuance of convertible debt		—			—			497,376			—
Repurchase of common stock		—			(23,117	)		(323,964	)		(422,046	)
Proceeds from issuance of common stock		4,638			14,967			47,864			24,148
Net cash provided by financing activities		786,989			188,679			1,673,606			727,522
Net (decrease) increase in cash and cash equivalents		(280,237	)		114,851			106,068			35,391
Effect of Canadian exchange rate changes on cash and cash equivalents		(1,754	)		(196	)		(3,913	)		1,908
Cash and cash equivalents at beginning of period		897,386			586,145			513,240			663,501
Cash and cash equivalents at end of period	$	615,395		$	700,800		$	615,395		$	700,800

Other Financial Data

(Unaudited, Dollars in Thousands)

	Three Months Ended March 31,						Nine Months Ended March 31,
	2007			2006			2007			2006
Origination volume	$	2,518,336		$	1,614,267		$	5,943,072		$	4,473,939
Loans securitized		1,919,503			1,000,002			4,895,244			3,702,707
Average on-book receivables	$	14,669,061		$	10,115,082		$	12,993,241		$	9,575,795
Average gain on sale receivables		31,500			902,246			132,185			1,443,547
Average managed receivables	$	14,700,561		$	11,017,328		$	13,125,426		$	11,019,342
	March 31, 2007			June 30, 2006			March 31, 2006
On-book receivables	$	15,123,907		$	11,775,665		$	10,382,505
Gain on sale receivables		28,979			421,037			750,637
Managed receivables	$	15,152,886		$	12,196,702		$	11,133,142
	Three Months Ended March 31,						Nine Months Ended March 31,
	2007			2006			2007			2006
Operating expenses	$	109,446		$	89,686		$	291,829		$	251,470
Operating expenses as a percent of average managed receivables		3.0	%		3.3	%		3.0	%		3.0	%
Tax rate		19.86	%		37.00	%		31.29	%		37.00	%
	March 31, 2007			June 30, 2006			March 31, 2006
Loan delinquency:
On-book:
(% of ending on-book receivables)
31 - 60 days		4.1	%		5.0	%		4.5	%
Greater than 60 days		1.5			2.0			1.5
Total		5.6	%		7.0	%		6.0	%
Gain on sale:
(% of ending gain on sale receivables)
31 - 60 days		0.8	%		9.2	%		7.0	%
Greater than 60 days		0.4			3.8			3.3
Total		1.2	%		13.0	%		10.3	%
Total portfolio:
(% of ending managed receivables)
31 - 60 days		4.1	%		5.1	%		4.7	%
Greater than 60 days		1.5			2.1			1.6
Total		5.6	%		7.2	%		6.3	%

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2007			2006			2007			2006
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding:
On-book (% of average on-book receivables)		5.0	%		5.4	%		6.0	%		6.1	%
Gain on sale (% of average gain on sale receivables)		1.5	%		7.4	%		2.8	%		9.2	%
Total portfolio (% of average managed receivables)		5.0	%		5.6	%		6.0	%		6.5	%
	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2007			2006			2007			2006
Net charge-offs:
On-book	$	165,117		$	122,119		$	510,134		$	359,635
Gain on sale		58			19,020			4,874			103,659
	$	165,175		$	141,139		$	515,008		$	463,294
Net charge-offs as a percent of average receivables:
On-book		4.6	%		4.9	%		5.2	%		5.0	%
Gain on sale		0.7	%		8.5	%		4.9	%		9.6	%
Total portfolio		4.6	%		5.2	%		5.2	%		5.6	%
Net recoveries as a percent of gross repossession charge-offs:
On-book		49.5	%		50.6	%		49.0	%		48.9	%
Gain on sale		60.7	%		45.0	%		43.9	%		41.4	%
Total portfolio		49.5	%		49.8	%		49.0	%		47.2	%

	March 31, 2007			June 30, 2006			March 31, 2006
On-book receivables:
Principal	$	15,123,907		$	11,775,665		$	10,382,505
Allowance for loan losses and nonaccretable acquisition fees		(756,460	)		(678,657	)		(612,487	)
	$	14,367,447		$	11,097,008		$	9,770,018
Allowance as a percentage of on-book receivables		5.0	%		5.8	%		5.9	%

The Company’s net margin as reflected on the consolidated statements of income, excluding the pre-tax gains on the sale of the Company’s investment in DealerTrack Holdings, Inc., of $16 million realized during the three months ended March 31, 2007, and $52 million and $9 million realized during the nine months ended March 31, 2007 and 2006, respectively, is as follows:

	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2007			2006			2007			2006
Finance charge income	$	564,104		$	414,440		$	1,550,678		$	1,182,251
Other income		34,797			25,658			102,846			70,605
Interest expense		(186,610	)		(107,106	)		(485,941	)		(298,556	)
Net margin	$	412,291		$	332,992		$	1,167,583		$	954,300
	Three Months Ended						Nine Months Ended
	March 31,						March 31,
	2007			2006			2007			2006
Finance charge income		15.6	%		16.6	%		15.9	%		16.5	%
Other income		1.0			1.1			1.1			1.0
Interest expense		(5.2	)		(4.3	)		(5.0	)		(4.2	)
Net margin as a percent of average on-book receivables		11.4	%		13.4	%		12.0	%		13.3	%

The following table provides additional information for comparative purposes related to the Company’s acquisition of Bay View Acceptance Corporation on May 1, 2006, and Long Beach Acceptance Corp. on January 1, 2007:

	Three Months Ended March 31, 2007						Nine Months Ended March 31, 2007
	AmeriCredit Core			Total			AmeriCredit Core			Total
Origination volume	$	2,020,236		$	2,518,336		$	5,181,483		$	5,943,072
Average managed receivables	$	11,943,812		$	14,700,561		$	11,653,892		$	13,125,426
Net charge-offs	$	153,378		$	165,175		$	498,883		$	515,008
Net charge-offs as a percent of average receivables		5.2	%		4.6	%		5.7	%		5.2	%
Contracts receiving a payment deferral as an average quarterly percentage of average receivables outstanding		5.7	%		5.0	%		6.5	%		6.0	%
Net margin	$	376,077		$	412,291		$	1,115,273		$	1,167,583
Net margin as a percent of average on-book receivables		12.7	%		11.4	%		12.9	%		12.0	%
	March 31, 2007
	AmeriCredit Core			Total
Managed receivables	$	12,280,054		$	15,152,886
Loan delinquency:
(% of ending managed receivables)
31 - 60 days		4.9	%		4.1	%
Greater than 60 days		1.7			1.5
Total		6.6	%		5.6	%
Allowance as a percentage of on-book receivables		5.7	%		5.0	%

Contact:

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