Boyd Group Services (TSE:BYD) Releases Earnings Results

Boyd Group Services (TSE:BYD) released its quarterly earnings results on Wednesday. The company reported C$0.81 earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of C$1.39 billion for the quarter. Boyd Group Services had a net margin of 0.58% and a return on equity of 1.74%.

Here are the key takeaways from Boyd Group Services’ conference call:

• Boyd reported record first-quarter results, with revenue up 28% to CAD 997 million and Adjusted EBITDA up 52% to a record CAD 122 million. Adjusted EBITDA margin expanded 200 basis points to 12.3%.
• The company said Project 360 and acquisition synergies are driving meaningful cost savings, with over CAD 60 million realized to date and a path to CAD 140 million in total savings over time. Management also said it remains on track for additional savings in 2026.
• Same-store sales rose 1.7% in the quarter, or about 2.6% excluding weather impacts in the South. April trends were said to be improving toward the low end of Boyd’s long-term 3%–5% growth framework.
• The Joe Hudson’s acquisition closed and its integration has been completed, with all locations converted to Boyd systems shortly after quarter end. Management expects about CAD 40 million of synergies from the deal, with roughly half realized in 2026.
• Boyd ended the quarter with higher leverage after funding Joe Hudson’s, reporting net debt of CAD 2.0 billion and pro forma debt leverage of 2.9x. Management still expects leverage to improve to 2.6x as early as the end of 2026.

Boyd Group Services Stock Down 11.5%

TSE:BYD traded down C$17.65 on Wednesday, hitting C$135.21. The stock had a trading volume of 205,141 shares, compared to its average volume of 88,586. The firm’s fifty day simple moving average is C$183.63 and its two-hundred day simple moving average is C$210.43. The stock has a market cap of C$3.76 billion, a P/E ratio of 164.89, a price-to-earnings-growth ratio of -56.72 and a beta of 0.75. Boyd Group Services has a 1 year low of C$129.74 and a 1 year high of C$248.23. The company has a debt-to-equity ratio of 99.84, a quick ratio of 0.30 and a current ratio of 3.14.

Insider Buying and Selling

In other Boyd Group Services news, insider Brian Kaner bought 1,180 shares of the business’s stock in a transaction on Tuesday, March 31st. The stock was purchased at an average price of C$173.43 per share, for a total transaction of C$204,647.40. Following the completion of the transaction, the insider directly owned 1,780 shares of the company’s stock, valued at C$308,705.40. This trade represents a 196.67% increase in their ownership of the stock. Insiders own 0.37% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BYD. Raymond James Financial decreased their price target on Boyd Group Services from C$275.00 to C$270.00 in a report on Thursday, April 2nd. BMO Capital Markets lowered their target price on shares of Boyd Group Services from C$280.00 to C$250.00 in a report on Thursday, March 19th. Royal Bank Of Canada cut their price target on shares of Boyd Group Services from C$294.00 to C$267.00 in a research note on Thursday, March 19th. National Bank Financial cut their target price on Boyd Group Services from C$290.00 to C$265.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, TD Securities dropped their price target on Boyd Group Services from C$290.00 to C$270.00 and set a “buy” rating on the stock in a research note on Thursday, March 19th. Two analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of C$262.17.

About Boyd Group Services

Boyd Group Services Inc is a Canadian corporation and controls The Boyd Group Inc and its subsidiaries. Boyd Group Services Inc shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc or Boyd Group Services Inc, please visit our website at https://www.boydgroup.com .