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Goeasy Q2 Adjusted Earnings Miss Estimates as Revenue Declines

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Goeasy (GSY.TO) reported Q2 adjusted diluted earnings of C$1.02 per share down from C$4.40 per share in the prior-year period, missing FactSet consensus of C$1.11 per share.

Revenue dropped 10% to C$390 million in the three months through June 30. That exceeded the FactSet consensus of C$389.2 million.

For the third quarter, goeasy expects gross consumer loans receivable to range between C$4.8 billion and C$5.0 billion, with total yield on consumer loans of 26.5% to 28%.

The company also announced that Jason Appel will be leaving his role as chief risk officer for an opportunity outside the company, but will remain through the end of August.

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