Boyd Group Sales Rise as US Expansion Increases Net Loss
Sales reached 996.7 million for the first quarter ended March 31, 2026, compared to 778.3 million in the prior-year period.
Boyd Group Services Inc. (BGSI), a North American operator of non-franchised collision repair and auto glass centers, expanded its United States footprint through the acquisition of Joe Hudson’s Collision Center. The company closed the transaction on January 9, 2026, adding 258 collision locations across the U.S. Southeast.
Sales for the three months ended March 31, 2026, rose to 996.7 million from 778.3 million in the same period the previous year. Gross profit followed a similar trajectory, increasing to 463.7 million from 359.3 million.
Despite the growth in top-line revenue, the company reported a wider net loss of 7.9 million for the quarter, compared to a net loss of 2.6 million in the first quarter of 2025. This resulted in a net loss of 0.28 a share, up from 0.12 a share in the prior-year period.
Operating expenses climbed to 341.3 million from 278.7 million. The company also saw an increase in acquisition and transformational cost initiatives, which rose to 21.1 million from 6.5 million. Other rising costs included depreciation of property, plant and equipment, which reached 26.7 million, and finance costs, which rose to 30.1 million from 17.8 million.
Comprehensive earnings for the period were 7.2 million, a shift from a comprehensive loss of 2.5 million in the prior-year quarter. This move was supported by 15.1 million in other comprehensive earnings, which included 7.6 million from fair value changes on cash flow hedges and 6.0 million from unrealized earnings on foreign currency translation.
On March 17, 2026, the Board of Directors declared a dividend.