Canada's Boyd Group Q1 sales rise 28%, slightly less than estimated

Boyd Services

13/05/2026 11:09

Overview

Canada collision repair operator's Q1 sales rose 28% but slightly missed analyst expectations

Adjusted EPS met analyst expectations; adjusted EBITDA rose 52% with margin expansion

Growth driven by Joe Hudson acquisition, new locations and positive same-store sales

Outlook

Boyd expects to open five start-up locations in Q2 2026 and 17 more by year-end

Company says same-store sales in April are approaching the low end of its long-term range

Boyd maintains long-term framework for 3–5% average same-store sales growth

Result Drivers

JOE HUDSON ACQUISITION - Addition of 258 locations from Joe Hudson's and related synergies drove sales and margin growth

SAME-STORE SALES GROWTH - Company reported 1.7% same-store sales growth, or 2.6% adjusting for weather impact in the U.S. South

COST SAVINGS & SYNERGIES - Project 360 cost savings and Joe Hudson integration synergies contributed to margin expansion

Company press release: ID:nPnc3WC39a

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Sales
Slight Miss*
$996.68 mln
$1.006 bln (9 Analysts)
Q1 Adjusted EPS
Meet
$0.58
$0.58 (8 Analysts)
Q1 EPS
-$0.28
Q1 Adjusted Net Income
$16.06 mln
Q1 Net Income
-$7.93 mln
Q1 Adjusted EBITDA
$122.39 mln
Q1 Gross Margin
46.5%


*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 13 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the personal services peer group is "buy"

Wall Street's median 12-month price target for Boyd Group Services Inc is C$266.00, about 74% above its May 12 closing price of C$152.86

The stock recently traded at 23 times the next 12-month earnings vs. a P/E of 43 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)