More bad news for Goeasy (TSE:GSY), as the troubled Canadian subprime lender has delayed issuing its financial results.
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Goeasy provides loans and lease-to-own agreements for people who have difficulty accessing traditional banks due to poor financial history. The company was set to report financial results on March 25 but has now delayed its latest earnings print.
Management said they now expect to release fourth-quarter 2025 results after the market closes on March 31, followed by a conference call with analysts and media. News of the delayed print comes after Goeasy said that it had secured a $550 million revolving credit facility that matures in July 2027.
Goeasy’s Troubles
Earlier in March, GSY stock plunged 60% after management announced hefty loan losses and suspended the company’s quarterly dividend. The company had previously paid a quarterly distribution of C$1.46, giving the stock a yield of 11.75%, one of the highest on the Toronto Stock Exchange.
Goeasy also announced that it would take more than $200 million in charges and withdrew its forward guidance. The Toronto-based company said it expects to take a $178-million charge for bad loans and a related write down of $55 million for loan interest and fees.
Is GSY Stock a Buy?
Goeasy stock has a consensus Hold rating among eight analysts. That rating is based on three Buy, four Hold, and one Sell recommendations issued in the last three months. The average GSY price target of C$53.12 implies 35% upside from current levels.
