Canada's Boyd Group Q3 sales up 28%, slightly missing estimates
BGSI•Boyd Group's third-quarter sales rose 28% year over year to $1.01 billion, slightly below the $1.02 billion consensus. Adjusted EPS fell 18% to $0.68, missing the $0.85 estimate.
1. Quarterly results
Boyd Group reported third-quarter sales of $1.01 billion, up 28% year over year and slightly below analyst expectations. Adjusted EPS declined 18% to $0.68, compared with the $0.85 consensus estimate. Adjusted EBITDA was $132.12 million, while net income was $81,000.
2. Growth and savings
Revenue growth included a $206 million contribution from 342 new locations and 2.2% same-store sales growth. Margin expansion reflected Project 360 cost savings and Joe Hudson's acquisition synergies, partly offset by lower labour and part margins. The company reported $50 million in year-to-date savings and expects Project 360 and synergies to deliver $65 million in savings in 2026.
3. Company outlook
Boyd Group expects to open 11 start-up locations in the fourth quarter of 2026 and said same-store sales growth remained positive in October 2026.
