GSY News & Analysis

goeasy (TSE:GSY) Q2 Earnings: Adjusted EPS Rebounds to C$1.02

goeasy Ltd. (TSE:GSY) reported a second-quarter adjusted diluted earnings per share (EPS) of C$1.02, improving from a loss of C$1.90 in the prior quarter. This rebound was aided by a C$41.6 million credit-loss provision release. However, loan originations fell 70% year over year to C$272 million, and gross loans receivable decreased to C$5 billion. Revenue also declined 9.6% year over year to C$390 million, driven by a reduced loan portfolio and lower yield. This information is relevant for investors as it reflects the company's current profitability amid tightening credit conditions.