GOEASY LTD

CEO Patrick Ens presented a realignment at the Scotiabank summit: goeasy is tightening lending, reducing riskier dealer loans from LendCare and shifting capital toward easyfinancial. The company is strengthening risk, data and operating infrastructure, has suspended dividends and share buybacks, and used about CAD 400 million to pay down debt in Q2 2025. The annualized write-off rate fell to 16.7%; management expects 2026 to be a transition year focused on stabilization and cautious growth, dependent on better credit performance and a more stable macro environment. » Mere på de.investing.com

goeasy reported adjusted diluted EPS of C$1.02 in Q2, recovering from a C$1.90 loss in Q1 after a C$41.6 million release of credit-loss provisions and lower operating expenses. Originations fell 70% year over year to C$272 million and gross consumer loans receivable declined to C$5 billion, while net charge-offs remained elevated at 16.7% despite sequential improvement. The company shifted portfolio mix toward direct-to-consumer lending (60.3% of loans), repaid its revolving credit balance, regained incremental-draw access and expects the loan book to stay around C$5 billion through year-end 2026; dividends and buybacks remain suspended. » Mere på finance.yahoo.com

Goeasy reported adjusted diluted EPS of -1.90 CAD for Q1 2026 versus a forecast of 1.67 CAD, which pushed the shares down 5.49% after the close to 30.99 CAD. Revenue rose slightly to 413 million CAD, beating expectations. The loan portfolio shrank and loan losses increased, while operating cash flow remained strong. Management is focusing on the direct-to-consumer segment easyfinancial, plans a workforce restructuring with annual savings of 30 million CAD, and has suspended dividends and share buybacks. » Mere på de.investing.com

goeasy posted a Q4 2025 net loss of $337 million after additional loan write-offs of $178 million and a $160 million goodwill impairment following a sharp deterioration in credit quality in the LendCare segment. Impaired loans rose sharply to $419 million (+165%), operating income fell to a loss of $283 million, and management announced a strategic shift to prioritize direct sales via easyfinancial. Under new leadership (CEO Patrick Ens, new CFO Felix Wu), goeasy has implemented tighter credit policies, job cuts and the suspension of dividends and buybacks; liquidity stands at up to $983 million, of which $743 million is not available until July. For 2026 the company set conservative targets with flat gross loan receivables and continued elevated net default rates of about 17.5–18.5%. » Mere på de.investing.com

Goeasy has suspended its dividend, withdrawn its financial guidance and announced net impairments of about C$331m for the fourth quarter. Around C$233m of that relates to write-downs in the vehicle financing business of subsidiary LendCare. The stock in Toronto fell as much as about 60% to C$46.26 and corporate bonds also hit record lows. » Mere på de.investing.com