MISSISSAUGA – Goeasy reported a net loss during the first quarter of $53 million, down from net income of $38.7 million during the same period last year.
That amounted to a diluted loss per share of $3.22, compared with diluted earnings per share of $2.28 during the prior year quarter.
The non-prime lender says its revenue amounted to $413 million during the first quarter, rising two per cent year-over-year from $405 million.
The company says it generated $551.3 million in loan originations, down 19 per cent compared to last year’s first quarter of $676.8 million.
In March, Goeasy moved to suspend its dividend and announced it would take more than $200 million in charges in its fourth quarter.
Goeasy CEO Patrick Ens says the company took decisive action in March to reduce its exposure to merchant-originated loans and that its direct-to-consumer business remains strong.
This report by The Canadian Press was first published May 12, 2026.
Companies in this story: (TSX:GSY)
