goeasy Q2 2026 profit drops as company cites elevated charge-offs, lower loan-book yield
Reuters2026/08/06 22:38- For Q2 2026, revenue fell 9.6% to CAD 390 million, reflecting a smaller average loan book and a lower total yield of 28.3%.
- Gross consumer loans receivable ended at CAD 5 billion, down 2.1%, driven by tighter merchant underwriting and moderated direct-to-consumer originations to manage liquidity.
- Credit losses weighed on results; net charge-offs rose to 16.7% of average gross loans, led by merchant-originated automotive and powersports portfolios.
- Operating income slid 40.6% to CAD 99.61 million; net income dropped to CAD 15.87 million, or CAD 0.96 per diluted share.
- Finance costs jumped 82.2% to CAD 78.43 million, reflecting a smaller fair-value gain on notes payable prepayment options and higher borrowing levels.
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