BOYD GROUP SERVICES INC. Boyd Group Services Inc.
Q1 2024 Fact Sheet
PROFILE
Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries
("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North
America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S. under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third-party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The Company also operates a Mobile Auto Solutions ("MAS") service that offers scanning and calibration services. The following is a geographic breakdown of the collision repair locations, including intake centers, and trade names.
CO LLISIO N LOCATIONS
BOYD AUTOBODY & GLASS (CANADA)
952 Locations Across North America | ➩Alberta | 16 |
➩Manitoba | 13 | |
➩British Columbia | 14 | |
➩Saskatchewan | 4 |
MARKET FACTS
TSX Symbol: BYD.TO
Close Price (May 10, 2024): C$256.68
52-week Range: C$228.74-324.75
Shares Outstanding: 21.5M
Market Capitalization: C$5,511.5M
Annualized Dividend (per share): C$0.600
Current Yield: 0.23%
MANAGEMENT
Timothy O'Day
President & CEO
Jeff Murray
Executive Vice President & CFO
Brian Kaner
Hawaii
The number of collision locations include 33 intake locations in Canada, and two intake locations and two fleet locations co-located with collision repair centers in the U.S.
Total Locations | 47 |
ASSURED AUTOMOTIVE (CANADA)
➩Ontario82
Total Locations | 82 |
GERBER COLLISION & GLASS (U.S.)
➩ Florida | 78 |
➩ Michigan | 76 |
➩ Illinois | 66 |
➩ California | 52 |
➩ New York | 42 |
➩ Washington | 39 |
➩ Georgia | 38 |
➩ Texas | 37 |
➩ Wisconsin | 37 |
➩ North Carolina | 36 |
➩ Indiana | 34 |
➩ Ohio | 34 |
➩ Oklahoma | 28 |
➩ Arizona | 25 |
➩ Louisiana | 23 |
➩ Colorado | 22 |
➩ South Carolina | 19 |
➩ Maryland | 14 |
➩ Missouri | 14 |
➩ Pennsylvania | 14 |
➩ Minnesota | 13 |
➩ Tennessee | 12 |
➩ Kansas | 11 |
➩ Oregon | 11 |
➩ Alabama | 10 |
➩ Nevada | 8 |
➩ Hawaii | 6 |
➩ Kentucky | 6 |
➩ Utah | 6 |
➩ Iowa | 5 |
➩ Arkansas | 3 |
➩ Nebraska | 3 |
➩ Idaho | 1 |
Total Locations | 823 |
Executive Vice President & COO Collision
DIRECTORS
David Brown (Independent Chair)
Brock Bulbuck
Robert Espey
Christine Feuell
Robert Gross
John Hartmann
Violet Konkle
Timothy O'Day
William Onuwa
Sally Savoia
CONTACT INFORMATION
Corporate Headquarters
The Boyd Group Inc.
1745 Ellice Avenue, Unit C1
Winnipeg, Manitoba
R3H 1A6
Tel: 204·895·1244
Fax: 204·895·1283
info@boydgroup.com
www.boydgroup.com
B U S I N E S S STRATEGY
Operational excellence
Enhance
ShareholdersShareholder
Value
Expense management
THE BOYD
GROUP
New location and | Same-store sales growth and optimize |
acquisition growth | |
returns from existing operations | |
FINANCIAL SUMMARY
SALES (US$ millions) | ADJUSTED EBITDA* (US$ millions) | ||||||||
3,000 | 400 | ||||||||
2,500 | 350 | ||||||||
300 | |||||||||
2,000 | |||||||||
250 | |||||||||
1,500 | |||||||||
200 | |||||||||
1,000 | 150 | ||||||||
100 | |||||||||
500 | |||||||||
50 | |||||||||
0 | |||||||||
0 | |||||||||
21 | 22 | 23 | 21 | 22 | 23 |
Three months ended
(in US$ millions, except per share and % amounts)March 31, 2024March 31, 2023
Sales | $786.5 | $714.9 |
Gross Profit | $352.6 | $327.0 |
Adjusted EBITDA* | $81.7 | $84.7 |
Adjusted EBITDA Margin* | 10.4% | 11.8% |
Adjusted Net Earnings* | $9.4 | $21.2 |
Adjusted Net Earnings* per share | $0.44 | $0.99 |
*Adjusted EBITDA, Adjusted EBITDA Margin, Adjusted Net Earnings and Adjusted Net Earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP Financial Measures and Ratios" in Boyd's MD&A filing (dated May 15, 2024) for the period ended March 31, 2024. A copy of Boyd's MD&A filing (dated May 15, 2024) for the period ended March 31, 2024, can be accessed via the SEDAR+ website (www.sedarplus.ca)
INVESTOR RELATIONS
Timothy O'Day
President & CEO
Boyd Group Services Inc. 847·410·6002 tim.oday@boydgroup.com
Jeff Murray
Executive Vice President & CFO Boyd Group Services Inc. 204·594·1773 jeff.murray@boydgroup.com
Craig MacPhail Investor Relations 416·586·1938 cmacphail@national.ca
ANALYST COVERAGE
Chris Murray
ATB Capital Markets
Tamy Chen
BMO Capital Markets
Krista Friesen
CIBC World Markets
Jeff Fenwick
Cormark Securities
Gary Ho
Desjardins
Kate McShane
Goldman Sachs & Co.
Bret Jordan
Jefferies
Zachary Evershed
National Bank Financial
Steve Hansen
Raymond James
Sabahat Khan
RBC Capital Markets
Michael Doumet
Scotia Capital
Daryl Young
Stifel
Derek J. Lessard
TD Securities
S U M M ARY
STABILITY
+
GROWTH
=
SHAREHOLDER VALUE
- Strong balance sheet
- Insurer preference for MSOs
- Recession resilient
- US$47.6 billion fragmented industry
- High ROIC growth strategy
- Market leader/consolidator in North America
- Cash dividends/conservative payout ratio
- 5-yeartotal shareholder return of 145.93%
Focus on
enhancing
shareholders'
value
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Disclaimer
Boyd Group Services Inc. published this content on 16 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 May 2024 11:45:01 UTC.
