Boyd Group Services Inc ( (BYDGF) ) has released its Q1 earnings. Here is a breakdown of the information Boyd Group Services Inc presented to its investors.
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Boyd Group Services Inc. is a leading operator of non-franchised collision repair centers in North America, providing services under various trade names in both Canada and the U.S., and is also a major retail auto glass operator.
In its first quarter of 2025, Boyd Group Services Inc. reported a slight decrease in sales by 1.0% to $778.3 million compared to the same period in 2024. Despite this, the company achieved a gross profit increase of 1.9%, indicating improved operational efficiency.
Key financial metrics revealed a decrease in adjusted EBITDA by 1.4% and a significant drop in adjusted net earnings by 77.0% compared to the previous year. The company also reported an increase in net debt, while continuing its expansion with the addition of nine new collision repair locations.
Looking forward, Boyd Group remains focused on its long-term growth strategy, including a new indirect staffing model expected to yield significant cost savings. The company aims to grow its revenue to $5 billion and double its adjusted EBITDA by 2029, despite facing market challenges.
The transition in leadership, with Brian Kaner succeeding Timothy O’Day as CEO, marks a new chapter for Boyd Group as it continues to navigate economic uncertainties and pursue strategic growth initiatives.