goeasy (EHMEF) Q3 2026 Earnings Report

The call reflected meaningful progress in liquidity management, portfolio rebalancing, direct-to-consumer growth and sequential credit-loss improvement. However, these positives were outweighed by the adjusted loss per share, an 18.2% revenue decline, a roughly 10% year-over-year contraction in the loan book, elevated credit losses and delinquencies, lower near-term loan book guidance, suspended capital returns and an unresolved IFRS 9 material weakness. Management expressed confidence in its recovery plan, but the current financial performance and remaining balance-sheet and credit challenges indicate a negative overall tone.

For Q4 2026, goeasy now expects ending loans receivable between $4.6 billion and $4.8 billion, yield on consumer loans to land between 27% and 28.5%, and net charge-offs to be between 14.5% and 16%; management described this as “consistency relative to Q3,” “more stability into Q4,” and “relatively stable losses into Q4,” with “modest improvements potentially here in Q4” for yield. Q3 ending gross consumer loans receivable was $4.9 billion, total yield was 27.7%, and net charge-offs were 15.2%, while management said longer term it expects yield to continue to improve, credit losses to be managed down over time, and mix to shift toward the easyfinancial direct-to-consumer business; it is not providing forward-looking guidance on the 2027 loan book today.