Goeasy Ltd. Reports Results for the Fourth Quarter and Full Year & Announces Increase to Automotive Securitization Facility

Quarterly Loan Originations of $705 million, up 12% from $632 million

Loan Portfolio of $3.65 billion, up 30% from $2.79 billion

Quarterly Net Charge Off Rate of 8.8%, down 20 bps from 9.0%

Quarterly Diluted EPS of $4.34, up 154%;

Adjusted Quarterly Diluted EPS1 of $4.01, up 32% from $3.05

Annual Diluted EPS of $14.48, up 72%;

Adjusted Annual Diluted EPS1 of $14.21, up 23% from $11.55

Annual Dividend per Share Increased to $4.68, up 22% from $3.84

Background and Overview:

Goeasy Ltd is a Canadian company specializing in offering high-interest loans to consumers who typically do not qualify for traditional bank loans.[CONTINUED BELOW]

Exciting Opportunity for Investors! We're Expanding Our Portfolio

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Email Jer@TrihouseConsulting.com. 

Goeasy Continued...

Their services include both secured and unsecured consumer loans, with a strategic focus on underbanked or credit-challenged individuals.

Goeasy also leverages a network of retail locations alongside a robust online platform to service their loans.

Financial Performance Highlights

Q4 2023
– Revenue Growth: Goeasy reported a significant increase in revenue compared to Q4 2022, largely due to increased... Read More

Key Takeaways

– Steady Growth: Goeasy Ltd has shown consistent financial growth, underscoring the effectiveness of their business model in the subprime lending market.
– Operational Resilience: Operational improvements have contributed to a lower cost structure, making the company more resilient against economic fluctuations.
– Credit Risk Management: Enhanced credit scoring and risk management practices have resulted in a healthier loan book with fewer delinquencies.

Strategic Insights

– Market Position: Goeasy’s focus on technology and customer service continues to solidify its position in the market as a preferred lender for non-prime consumers.
– Investment in Technology: Continuous investment in digital platforms is critical, especially to cater to the younger demographic and improve the customer loan management process.
– Regulatory Environment: Staying ahead of regulatory changes and maintaining a proactive approach towards compliance is vital for sustaining growth and mitigating risks.

Questions? Need help? Introductions? Brainstorm?

Reach out to Jer at : Jer@theBusinessOfLending.com

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