Core Insights - Boyd Group Services Inc. reported a strong finish to 2025, achieving positive same-store sales growth for the second consecutive quarter and improving year-over-year adjusted EBITDA margins [2][9]. Financial Performance - For the full year 2025, Boyd added 70 collision locations, comprising 43 acquisitions and 27 start-ups [2]. - The company increased internalization of scanning and calibration services in the U.S. to 75% in Q4 2025 from 53% in Q4 2024 [2]. - Boyd's total sales for 2025 reached $3.1 billion, a 2.4% increase from 2024, with same-store sales declining by 0.2% [2][4]. - Adjusted EBITDA rose by 12.4% to $376.3 million, with an adjusted EBITDA margin of 12.0%, reflecting a 110 basis point improvement [2][9]. - Net earnings decreased by 25.0% to $18.4 million, impacted by acquisition and transformational costs totaling $22.6 million [2][7]. Dividends and Financing - The company increased quarterly dividends by 2.0% in November 2025, raising the annualized amount to C$0.624 per share [2]. - Boyd completed a $897 million initial public offering in the U.S. and a C$525 million senior unsecured note offering to finance the acquisition of Joe Hudson's Collision Center [2]. Strategic Initiatives - Boyd announced a definitive agreement to acquire Joe Hudson's Collision Center for $1.3 billion, which is expected to enhance its scale and market presence [2][9]. - The integration of Joe Hudson's acquisition is progressing well, with approximately 44% of locations converted to Boyd's systems and branding [13]. Industry Outlook - Industry conditions improved throughout 2025, with repairable claims volume declining by 2-4% in Q4, a significant recovery from earlier declines [11]. - The company anticipates continued improvement in key industry drivers, including insurance premium inflation and used vehicle prices [11].

Company Overview - Boyd Group Services Inc. is a Canadian corporation that controls The Boyd Group Inc. and its subsidiaries, with shares trading on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI [2] - The Boyd Group Inc. is one of the largest operators of non-franchised collision repair centers in North America, operating under various trade names including Boyd Autobody & Glass, Assured Automotive, and Gerber Collision & Glass [3] Financial Announcement - Boyd Group Services Inc. announced a cash dividend of C$0.156 per common share for the fourth quarter of 2025, payable on January 28, 2026, to shareholders of record as of December 31, 2025 [1]

Core Viewpoint - Boyd Group Services Inc. has amended its credit facilities to enhance financial flexibility and support the acquisition of Joe Hudson's Collision Center, increasing its revolving credit facilities to US$675 million with a potential maximum of US$1.075 billion [1][3] Group 1: Credit Facilities - The amended credit facilities include an increase in revolving credit to US$675 million, with an accordion feature allowing for a maximum of US$1.075 billion [1] - The existing US$125 million Term Loan A, maturing in March 2027, remains unchanged [1] Group 2: Acquisition Financing - The company plans to partially utilize the amended credit facilities along with proceeds from recent common share and senior unsecured notes offerings to finance the acquisition [3] - The acquisition is progressing through customary closing conditions and regulatory requirements [3] Group 3: Company Overview - Boyd Group Services Inc. is a Canadian corporation that controls The Boyd Group Inc. and its subsidiaries, trading on the TSX under BYD and NYSE under BGSI [4] - The Boyd Group Inc. operates one of the largest networks of non-franchised collision repair centers in North America, with locations in Canada and the U.S. under various trade names [5]