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Boyd Group Services (BYD) investor relations material
Boyd Group Services Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved Q3 2025 revenue of $790.2 million, up 5% year-over-year, with adjusted EBITDA of $98.4 million and margin improvement to 12.4% from 10.7% year-over-year.
Returned to positive same-store sales growth of 2.4% in Q3 2025, with momentum continuing into Q4 and aligning with the five-year plan.
Surpassed 1,000 locations, added 24 new sites in Q3, and announced a definitive agreement to acquire Joe Hudson's Collision Center for $1.3 billion, adding 258 locations.
Completed a $897 million U.S. IPO, began trading on the NYSE, and completed a CAD 275 million bond offering.
Five-year plan targets $5 billion in revenue, $700 million adjusted EBITDA, over 1,400 locations, and 10% market share by 2029.
Financial highlights
Q3 2025 sales increased 5% year-over-year to $790.2 million; same-store sales excluding FX up 2.4%.
Adjusted EBITDA rose 22.8% to $98.4 million, with margin up to 12.4% from 10.7%.
Adjusted net earnings were $13.3 million ($0.62/share), up from $3.2 million ($0.15/share) in Q3 2024.
Net earnings were $10.8 million ($0.51/share), up from $2.9 million ($0.13/share) in Q3 2024.
Gross margin improved to 46.3%, up from 45.7% year-over-year.
Outlook and guidance
Five-year plan aims for $5 billion revenue and $700 million adjusted EBITDA by 2029, with 3-5% annual same-store sales growth and 5-7% annual unit growth.
Project 360 cost savings on track for $70 million run rate by end of 2026 and $100 million by 2029, with $30 million already realized.
Same-store sales growth in October exceeded Q3, trending within the 3%-5% long-term range.
New location growth expected to average 8-10 start-ups per quarter, with 13 planned for Q4 2025 and a target of 80-100 new locations annually.
Joe Hudson's acquisition expected to deliver $35-45 million in synergies, about half realized near-term.
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Net profit and revenue fell on lower oil prices and weak margins, despite improved cash flow. - 386
2024 profit fell 16% to RMB48.9B on lower margins, but dividend payout remains robust. - DNLM
Sales and digital growth, margin expansion, and strategic investments drive strong FY25 results. - DNLM
Sales up 3.8% to £1,771m, profit before tax £211m, digital sales 40%, market share 7.9%. - 9412
Profits and equity improved, with upward revisions to full-year forecasts and new subsidiaries added. - NVDA
AI is transforming enterprises by enabling intent-driven innovation and technology-first strategies. - DNLM
H1 sales up 3.6% to £926m; digital mix 41%; PBT to hit lower end of consensus. - CRW
Double-digit growth, strong cash flow, and new leadership drive confidence for FY25. - 7011
Strong revenue and profit growth in FY2025, with raised guidance and key divestiture impact. - 8053
Profit attributable to owners dipped 1.9% despite higher revenues and strong FX gains.
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