The Mississauga, Ont.-based subprime lender will address Jehoshaphat Research’s September report in its earnings call next month, said Patrick Ens, president of Goeasy’s personal lending and lease-to-own home goods divisions. The call will provide an opportunity for the company to clarify “assumptions we didn’t know were being made,” Ens said at a conference in Toronto on Monday. (The Logic)
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The Mississauga, Ont.-based subprime lender will address Jehoshaphat Research’s September report in its earnings call next month, said Patrick Ens, president of Goeasy’s personal lending and lease-to-own home goods divisions. The call will provide an opportunity for the company to clarify “assumptions we didn’t know were being made,” Ens said at a conference in Toronto on Monday. (The Logic)
Talking point: The report alleged Goeasy used accounting tricks to make credit losses and delinquencies look less serious, which the company called “unfounded and misleading.” Goeasy appointed a new CEO in March and shuffled its CFO shortly after the report release, which Ens acknowledged “is a heck of a lot of change.” Both Goeasy and competitor Propel, which was not mentioned in the report, have felt its effects, falling 11 and four per cent respectively the day the report was released. They have since continued to plunge, with Goeasy losing about 45 per cent of its value and Propel down 29 per cent.
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