Acquisitions and operational efficiencies drive revenue and margin improvements, while repairable insurance claims continue to decline.
Nov. 12, 2026 — Boyd Group Services Inc. reported third-quarter sales of US$1.013 billion, an increase of 28.2 per cent over the same period last year, as acquisitions, market share gains, and operational efficiencies continued to drive growth across its North American collision repair network.
Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) increased 34.3 per cent to US$132.1 million, while the adjusted EBITDA margin improved to 13 per cent from 12.4 per cent in the third quarter of 2025.
The results reflect contributions from recently acquired locations, including Joe Hudson’s Collision Center, as well as improvements from the company’s Project 360 efficiency program.
New locations contributed US$206 million in revenue during the quarter, while same-store sales increased 2.2 per cent. Boyd added 10 locations through single-shop acquisitions, bringing its North American collision repair network to 1,329 locations, compared with 1,014 a year earlier.
Despite the strong revenue growth, net earnings were virtually unchanged at US$81,000, compared with US$10.8 million in the third quarter of 2025. The company attributed the difference primarily to acquisition and transformational costs, along with higher amortization and financing expenses. Adjusted net earnings, a non-IFRS measure, increased to US$19 million from US$17.8 million.
Operational improvements also contributed to stronger gross margins, which increased to 46.7 per cent from 46.3 per cent. Higher paint margins, improved sublet performance, and increased revenue from scanning and calibration services helped offset lower labour and parts margins.
Boyd reported US$50 million in savings through Project 360 and acquisition synergies during the first nine months of 2026. The company remains on track to achieve its full-year savings target of US$65 million.
However, the results also highlight continuing challenges in the collision repair market. Boyd estimated that repairable insurance claims declined between one and three per cent year over year during the quarter. Despite lower industry volumes, the company reported positive same-store sales growth, supported by market share gains and its relationships with insurance partners.
“Our third-quarter results reflect continued progress on our strategic priorities and ongoing outperformance of broader industry trends,” said Brian Kaner, president and CEO of Boyd Group.
For Canadian collision repairers, Boyd’s results illustrate the growing importance of operational efficiency, scale, and diversification of revenue sources. The company’s continued investment in scanning, calibration, and paint operations also reflects the increasing role of specialized services in shop profitability.
Boyd Group Services is headquartered in Winnipeg and operates collision repair facilities in Canada under the Boyd Autobody & Glass and Assured Automotive names, and in the United States as Gerber Collision & Glass.