Q3 2025 goeasy Ltd Earnings Call Transcript
Key Points
- goeasy Ltd (EHMEF) reported organic loan book growth of $336 million in Q3, driven by originations of $946 million.
- The company achieved record quarterly revenue of $440 million, up 15% from Q3 of the previous year.
- goeasy Ltd (EHMEF) maintained a strong portfolio yield of 31.4%, reflecting a transition from the rate cap and a higher composition of secured loans.
- The company successfully issued USD450 million in senior unsecured notes and reopened existing Canadian notes, raising approximately $796 million in gross proceeds.
- goeasy Ltd (EHMEF) was recognized as one of the best places to work in Ontario and one of Canada's top-growing companies.
- The net charge-off rate declined by 30 basis points year-over-year to 8.9%, but the allowance for credit losses increased from 7.9% to 8.1% due to higher early-stage delinquencies.
- The efficiency ratio increased by 30 basis points to 23.4%, indicating a need for continued focus on operational efficiency.
- Earnings per share (EPS) decreased to $4.12, down from $4.6 in the same period of the previous year, impacted by lower yields and increased credit loss provisions.
- The debt to tangible equity ratio was at the high end of the targeted range at 3.96%, primarily due to higher cash and liquidity following the unsecured notes offering.
- The company faces challenges from a persistently weak macroeconomic environment, with elevated delinquency levels and economic pressures impacting the non-prime consumer segment.
Good morning, ladies and gentlemen, and welcome to the goeasy Limited Q3 2025 earnings conference call. (Operator Instructions) This call is being recorded on Thursday, November 6, 2025.
I would now like to turn the conference over to James Obright.
Thank you, operator, and good morning, everyone. I'm James Obright, Senior Vice President of Investor Relations and Capital Markets. Thank you for joining us to discuss goeasy Limited's results for the third quarter ended September 30, 2025. The news release, which was released yesterday after market close, is available on CISN and on the goeasy website.
On today's call, Dan Reese, goeasy's Chief Executive Officer, will review key highlights for the third quarter and provide an outlook for the business. Hal Khouri, Chief Financial Officer, data, and more. I remind you that this conference call is open to all investors and is being webcast through the company's investor website and supplemented by a quarterly
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
