BOYD GROUP SERVICES INC. Boyd Group Services Inc.
Q4 2022 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 following is a geographic breakdown of the collision repair locations, including intake centers, and trade names.
COLLISION LO CATIO NS
BOYD AUTOBODY & GLASS (CANADA) | ||
860 Locations Across North America | ➩British Columbia | 16 |
➩Manitoba | 12 | |
➩Alberta | 14 | |
➩Saskatchewan | 4 |
MARKET FACTS
TSX Symbol: BYD.TO
Close Price (March 22, 2022): C$208.80
52-week Range: C$117.48-222.74
Shares Outstanding: 21.5M
Market Capitalization: C$4,483.4M
Annualized Dividend (per share): C$0.588
Current Yield: 0.3%
MANAGEMENT
Timothy O'Day
President & CEO
Jeff Murray
Vice President Finance & Interim CFO
Hawaii
The number of collision locations include 38 intake locations in Canada, and 7 intake locations and two fleet locations co-located with collision repair centers in the U.S.
Total Locations | 46 |
ASSURED AUTOMOTIVE (CANADA)
➩Ontario87
Total Locations | 87 |
GERBER COLLISION & GLASS (U.S.)
➩ Florida | 73 |
➩ Michigan | 72 |
➩ Illinois | 64 |
➩ New York | 38 |
➩ Washington | 36 |
➩ Wisconsin | 36 |
➩ California | 34 |
➩ North Carolina | 34 |
➩ Indiana | 33 |
➩ Georgia | 33 |
➩ Ohio | 32 |
➩ Oklahoma | 28 |
➩ Texas | 27 |
➩ Arizona | 26 |
➩ Colorado | 22 |
➩ South Carolina | 19 |
➩ Louisiana | 18 |
➩ Kansas | 13 |
➩ Maryland | 12 |
➩ Tennessee | 12 |
➩ Oregon | 11 |
➩ Nevada | 10 |
➩ Pennsylvania | 10 |
➩ Alabama | 8 |
➩ Missouri | 7 |
➩ Utah | 5 |
➩ Hawaii | 4 |
➩ Kentucky | 4 |
➩ Arkansas | 3 |
➩ Idaho | 1 |
➩ Iowa | 1 |
➩ Minnesota | 1 |
Total Locations | 727 |
Brian Kaner
Executive Vice President & COO Collision
DIRECTORS
David Brown (Independent Chair)
Brock Bulbuck
Robert Espey
Robert Gross
John Hartmann
Violet Konkle
Timothy O'Day
William Onuwa
Sally Savoia
CONTACT INFORMATION
Corporate Headquarters
The Boyd Group Inc.
1745 Ellice Avenue, Unit C1
Winnipeg, Manitoba
R3H 1A6
Tel: 204·895·1244
Fax: 204·895·1283
info@boydgroup.com
www.boydgroup.com
B U S I N E S S STRATEGY
Operational excellence
Enhance
ShareholdersShareholder
Value
Expense management
THE BOYD
GROUP
New location and | Same-store sales growth and optimize |
acquisition growth | |
returns from existing operations | |
FINANCIAL SUMMARY
SALES (US$ millions) | ADJUSTED EBITDA* (US$ millions) | ||||||||||||
2,500 | 300 | ||||||||||||
2,000 | 250 | ||||||||||||
200 | |||||||||||||
1,500 | |||||||||||||
150 | |||||||||||||
1,000 | |||||||||||||
100 | |||||||||||||
500 | |||||||||||||
50 | |||||||||||||
0 | 0 | ||||||||||||
20 | 21 | 22 | 20 | 21 | 22 | ||||||||
Three months ended | Twelve months ended | ||||||||||||
(in US$ millions, except per share and | December 31, | December 31, | December 31, | December 31, | |||||||||
% amounts) | 2022 | 2021 | 2022 | 2021 | |||||||||
Sales | $637.1 | $516.2 | $2,432.3 | $1,872.7 | |||||||||
Gross Profit | $282.1 | $224.5 | $1,087.3 | $839.3 | |||||||||
Adjusted EBITDA* | $74.7 | $57.3 | $273.5 | $219.5 | |||||||||
Adjusted EBITDA Margin* | 11.7% | 11.1% | 11.2% | 11.7% | |||||||||
Adjusted Net Earnings* | $14.6 | $5.9 | $42.4 | $28.0 | |||||||||
Adjusted Net Earnings* per share | $0.68 | $0.28 | $1.97 | $1.30 |
*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 March 22, 2023) for the period ended December 31, 2022. A copy of Boyd's MD&A filing (dated March 22, 2023) for the period ended December 31, 2022, can be accessed via the SEDAR Web site (www.sedar.com)
INVESTOR RELATIONS
Timothy O'Day
President & CEO
Boyd Group Services Inc. 847·410·6002 tim.oday@boydgroup.com
Jeff Murray
Vice President Finance & Interim 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
Jonathan Lamers
Laurentian Bank Securities
Zachary Evershed
National Bank Financial
Steve Hansen
Raymond James
Sabahat Khan
RBC Capital Markets
Michael Doumet
Scotia Capital
Daryl Young
TD Securities
S U M M ARY
STABILITY
+
GROWTH
=
SHAREHOLDER VALUE
- Strong balance sheet
- Insurer preference for MSOs
- Recession resilient
- US$41.0 billion fragmented industry
- High ROIC growth strategy
- Market leader/consolidator in North America
- Cash dividends/conservative payout ratio
- 5-yeartotal shareholder return of 106.83%
Focus on
enhancing
shareholders'
value
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Disclaimer
Boyd Group Services Inc. published this content on 05 April 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 April 2023 15:24:02 UTC.
