Boyd Group Services Reports Record Revenue Exceeding $1 Billion in Q2 2026
Boyd Group Services (BGSI) reported second-quarter revenue of $1.01 billion, a 30% increase and the first time it has exceeded $1 billion for a quarter. This growth was driven by the integration of Joe Hudson's acquisition, which added significant sales through new locations. Adjusted EBITDA rose to $135.9 million, up 45%, with an adjusted EBITDA margin expanding to 13.4%. The company also raised its synergy target for 2026 from $20 million to $35 million due to faster integration progress. Boyd Group Services achieved same-store sales growth of 2.9% despite a flat or declining industry repairable claim volume, indicating strong market share gains. Gross margin improved by 60 basis points to 47.4%, and the company reported adjusted net earnings of $22.4 million, up 47%. However, net earnings were lower at $1.3 million due to higher amortization costs and a purchase price allocation adjustment. The integration process caused temporary sales disruptions but is expected to yield long-term benefits through cost savings initiatives like Project 360. Boyd Group Services also plans additional location openings in the second half of 2026.
