Goeasy (OTC) ( (EHMEF) ) has released its Q2 earnings. Here is a breakdown of the information Goeasy (OTC) presented to its investors.
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Goeasy Ltd., a prominent Canadian consumer lender, specializes in providing financial services to individuals with near to non-prime credit scores through its easyhome, easyfinancial, and LendCare brands. The company operates across various sectors, including unsecured lending, automotive financing, and point-of-sale financing, supported by a robust omni-channel model.
In its latest earnings report for the second quarter of 2025, Goeasy Ltd. announced record results with loan originations reaching $904 million, marking a 9% increase from the previous year. The company’s loan portfolio grew to $5.10 billion, a 23% rise, contributing to a revenue increase of 11% to $418 million. The net charge-off rate improved to 8.8%, reflecting enhanced credit and underwriting practices.
Key financial highlights include a 32% rise in net income to $86.5 million and a 38% increase in diluted earnings per share to $5.19. The company maintained stable credit performance, with a net charge-off rate at the lower end of its forecast range. Additionally, Goeasy experienced strong growth in automotive financing and secured loans, although the total yield on consumer loans saw a decline due to lower interest rates on secured products.
Looking ahead, Goeasy’s management remains optimistic, reiterating its full-year 2025 performance forecast. The company anticipates its gross consumer loans receivable to reach the upper end of its projected range, driven by strong demand in the Canadian non-prime credit market, which is valued at over $230 billion. With a focus on expanding its customer base and maintaining credit discipline, Goeasy is well-positioned for continued growth.