Shares rose 6.3% as goeasy demonstrated progress in stabilizing credit metrics and strengthening liquidity, driven by disciplined reductions in originations and an improving net charge-off rate.
- Adjusted diluted EPS improved sequentially to CAD 1.02 from a loss per share of CAD 1.90 in Q1 2026, despite being lower year-over-year.
- Gross consumer loans receivable contracted by CAD 363 million (6.8%) quarter-over-quarter, reflecting strategic pullback in originations.
- Net charge-off rate remained elevated at 16.7% but improved by 110 basis points compared to Q1; delinquencies declined 100 bps year-over-year to 11.9%.
- Strengthened liquidity position by reducing originations, increasing cash balances, and repaying the full revolving credit facility balance, improving leverage to 4.95x adjusted tangible equity from 5.3x.
- Shifted originations focus toward direct-to-consumer easyfinancial segment, increasing its share of gross loans by 300 basis points since Q4 2025.
Community Discussion