Boyd Group Services Inc. Reports Third Quarter 2026 Results

(TSX:BYD) (NYSE:BGSI) Boyd Group Services Inc. reported strong financial and operational results for the third quarter ended September 30, 2026. Sales increased 28.2% to $1,012.7 million, with new locations contributing $206.0 million to revenue and same-store sales growth of 2.2%. Adjusted EBITDA rose 34.3% to $132.1 million, and Adjusted EBITDA margin expanded to 13.0%. Gross profit increased by 29.4% to $473.4 million, with gross margin improving to 46.7%. Net earnings for the quarter were $0.1 million, compared to $10.8 million in the prior year, primarily due to $5.2 million in acquisition and transformational costs and higher amortization of intangibles. Adjusted net earnings were $19.0 million, up from $17.8 million, and adjusted net earnings per share were $0.68, compared to $0.83 in Q3 2025. For the nine months ended September 30, 2026, sales reached $3,023,047,000, up from $2,348,940,000, and adjusted earnings per share increased to $2.06 from $1.85. Boyd realized $50 million in year-to-date savings from Project 360 and acquisition synergies and remains on track to achieve its full-year target of $65 million in savings. The company added 10 new locations through single shop acquisitions during the quarter, bringing the total collision location count to 1,329, a 31% increase from the prior year. Project 360 and acquisition synergies are projected to deliver a further $15 million in the fourth quarter, with total projected savings of $65 million for 2026 and $140 million across the 2025–2029 period. Boyd announced a normal course issuer bid and commenced share repurchases under the program during the quarter. The company expects to complete and open 11 start-up locations in the fourth quarter. Management will hold a conference call on November 11, 2026, at 8:00 a.m. (ET) to review the results. The company operates in North America, with locations in Canada and the U.S. under various trade names, and provides collision repair, auto glass, and related services.