EL7.AI
StocksMedium•11 November 2026•
2 min read

Boyd Group’s adjusted EPS of $0.68 misses analyst consensus in third quarter

Key Facts

1New locations contributed $206.0 million to third-quarter revenue, and same-store sales rose 2.2%.
2Gross profit was $473.4 million, up 29.4%; the margin widened to 46.7% from 46.3%.
3Adjusted EBITDA rose 34.3% to $132.1 million, and its margin widened to 13.0% from 12.4%.
4Adjusted EPS was $0.68, compared with analyst consensus of $0.85.

Boyd Group Services reported on November 11 results for the quarter ended September 30, 2026, showing a split between improved operating metrics and lower net earnings. Adjusted EPS was $0.68, compared with analyst consensus of $0.85, according to an Investing.com report attributed to Reuters. The company said the quarter’s performance reflected progress on its strategic priorities and continued outperformance of broader industry trends. Chief Executive Brian Kaner said: "Third-quarter results reflect continued progress on our strategic priorities and ongoing outperformance of broader industry trends." The shares were little changed in after-hours trading following the announcement, according to the same report.

Revenue growth was supported by the addition of new locations, which contributed $206.0 million, along with 2.2% same-store sales growth in the third quarter. Boyd attributed the increase to the addition of Joe Hudson’s, market share gains and improved sales at existing locations. This means growth from the new network coincided with an increase at existing locations, rather than performance relying on either source alone. The company estimated, however, that repairable vehicle repair claim volumes declined by about 1–3% year over year during the quarter. Same-store sales growth remained positive in October 2026, the company said.

At the operating-profit level, gross profit rose 29.4% to $473.4 million, and the margin widened to 46.7% from 46.3% a year earlier. The company attributed improved paint margins to synergies from the Joe Hudson’s acquisition and the Project 360 initiative, and also cited better margins in subcontractor services, scanning and calibration. This was partly offset by lower labor and parts margins, leaving some cost pressures in place despite the expansion in gross margin. Adjusted EBITDA rose 34.3% to $132.1 million, while its margin increased to 13.0% from 12.4%. Boyd linked the improvement to Project 360 savings and acquisition synergies.

Boyd expects to deliver an additional $15 million in savings in the fourth quarter, bringing expected savings for 2026 to $65 million. The company’s statement puts its total savings target at $140 million over 2025–2029. It also expects to complete and open 11 new greenfield locations in the fourth quarter. These targets make cost-cutting and expansion through new locations key priorities for the period ahead. The outlook follows a quarter in which the company recorded growth in gross and operating profit, while adjusted EPS came in below analyst consensus.