Boyd Group Services Inc. reported record financial results for Q1 2026, according to a news release.  

The company reported sales increased by 28.1% while Adjusted EBITDA1 grew 51.9%, driven by a 33% year-over-year growth in location footprint, positive same-store sales for the third straight quarter, and execution on Project 360 and acquisition synergies. 

“I’m incredibly proud of our team’s performance this quarter,” said Brian Kaner, president and CEO. “We accelerated growth, continued to outperform underlying industry volume trends and to strengthen operational execution while delivering meaningful margin expansion and significantly higher profitability. Our results demonstrate the scalability of our platform, the strength of our operating model, and the disciplined execution of our strategic priorities.” 

Gross profit increased by 29.1% to $463.7 million while gross margins expanded to 46.5% in the first quarter of 2026, from 46.2%. Gross margins benefitted from increased parts and paint margins from Project 360 and Joe Hudson’s synergy realization, partially offset by a lower mix of higher margin glass sales and variability in performance-based pricing.  

The company posted a net loss of $7.9M, due to acquisition and integration costs related to the Joe Hudson acquisition and Project 360. These costs are expected to decline as integration finalizes. However, adjusted earnings rose sharply, with EPS up to $0.58 from $0.31. 

Boyd added 269 locations during the quarter, including 258 from the Joe Hudson’s acquisition, three from single shop acquisitions, and eight new start up locations. Joe Hudson’s shop conversions to Boyd’s systems were fully completed on schedule with expected synergies progressing in line with plan.  

Looking ahead, the company estimates that repairable claims volume declined in the range of 0-2% during the quarter, which is now in-line with Boyd’s long-term growth framework. The long-term growth framework contemplates average same-store sales growth of 3–5%. The framework also assumes 3–4% annual growth in average total cost of repair and approximately 1% growth in miles driven. 

Management held a conference call on May 13 to review the 2026 first quarter results. An archived replay of the webcast will be available for 90 days on the Boyd Group’s website.