Boyd Group showed resilience with market share gains and gross margin improvements despite facing challenges such as declining same-store sales and increased operating expenses. Project 360 is showing early success with potential cost savings. However, the company is dealing with a net loss and reduced adjusted EBITDA, reflecting ongoing market headwinds.
Company Guidance
During the Boyd Group Services Inc. First Quarter 2025 Results Conference Call, several key metrics and business updates were discussed. Same-store sales declined by 2.8%, which was better than the estimated industry decline of 9% to 10% in repairable claims. Gross profit increased by $6.7 million, with a gross margin of 46.2%, up 140 basis points from the previous year, driven by internalization of scanning and calibration services and improvements in performance-based pricing. Operating expenses for the quarter were $278.7 million, representing 35.8% of sales, up from 34.4% in the same period of 2024. Adjusted EBITDA decreased by 1.4% to $80.5 million. Net loss was $2.6 million, compared to net earnings of $8.4 million in Q1 2024. The company continues to focus on its long-term growth strategy, aiming to grow revenue to $5 billion and double adjusted EBITDA to $700 million by 2029, with initiatives like Project 360 expected to drive significant cost savings. Boyd Group plans to open eight new start-up sites in the second quarter and 16 more throughout the rest of the year.
Market Share Gains
Boyd posted same-store sales declines of only 2.8% in a market where declines in repairable claims were estimated to be down 9% to 10%.
Gross Margin Improvement
Gross profit increased by $6.7 million, with a gross margin of 46.2%, up 140 basis points from the prior year.
Project 360 Early Success
Early signs of success from Project 360, including an indirect staffing model expected to save $30 million annually.
Five-Year Growth Strategy
Boyd aims to grow revenue to $5 billion and double adjusted EBITDA to $700 million by 2029.
Boyd Group Services (TSE:BYD) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
TSE:BYD Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
May 14, 2025
C$207.54
C$215.00
+3.59%
Mar 19, 2025
C$226.58
C$216.62
-4.40%
Nov 05, 2024
C$218.99
C$217.98
-0.46%
Aug 08, 2024
C$213.38
C$225.52
+5.69%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Boyd Group Services (TSE:BYD) report earnings?
Boyd Group Services (TSE:BYD) is schdueled to report earning on Aug 13, 2025, TBA Not Confirmed.
What is Boyd Group Services (TSE:BYD) earnings time?
Boyd Group Services (TSE:BYD) earnings time is at Aug 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.