Boyd Group Services Inc ( (BYDGF) ) has released its Q4 earnings. Here is a breakdown of the information Boyd Group Services Inc presented to its investors.
Boyd Group Services Inc. is a major player in the North American collision repair industry, operating numerous non-franchised repair centers under various trade names in Canada and the U.S., and providing comprehensive auto glass and claims services.
In its latest earnings report, Boyd Group Services Inc. revealed a 4.2% increase in sales to $3.1 billion for the year 2024, despite facing challenging market conditions. The company also announced strategic initiatives and leadership changes to drive future growth.
Key financial metrics showed a mixed performance, with adjusted EBITDA decreasing by 9.1% to $334.8 million, and adjusted net earnings dropping significantly by 65.5% to $30.9 million. The company continued its expansion by adding 49 new locations and launched ‘Project 360’, aimed at achieving $100 million in annual cost savings.
Looking ahead, Boyd Group Services Inc. has set ambitious goals, including growing revenue to $5 billion by 2029 and doubling adjusted EBITDA. The company remains focused on operational excellence and profitability, despite ongoing market challenges.
Overall, Boyd Group Services Inc. is committed to maintaining its leadership position in the collision repair industry, leveraging strategic initiatives and market share gains to navigate current economic uncertainties.
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