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Boyd Group Services Inc(BYD-T)

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Boyd Group Services reports US$14.2M Q4 profit, sales up 23.4% from year ago

Canadian Press - Wed Mar 22, 6:45AM CDT

WINNIPEG — Boyd Group Services Inc. says it earned US$14.2 million in its fourth quarter, up from US$4.9 million a year earlier.

The autobody repair shop chain, which keeps its books in U.S. dollars, says the profit amounted to 66 cents per diluted share for the quarter ended Dec. 31, up from 23 cents per diluted share for the last three months of 2021.

Sales totalled nearly US$637.1 million, up from US$516.2 million a year earlier.

Same-store sales for the quarter rose 20.7 per cent compared with a year earlier.

On an adjusted basis, Boyd Group says it earned 68 cents per share, up from an adjusted profit of 28 cents per share in the fourth quarter of 2021.

In its outlook, Boyd Group chief executive Timothy O'Day says the company remains focused on its key challenges of building capacity through increased staffing and negotiating sufficient price increases to recover lost margin from wage pressure.

This report by The Canadian Press was first published March 22, 2023.

Companies in this story: (TSX:BYD)

Provided Content: Content provided by Canadian Press. The Globe and Mail was not involved, and material was not reviewed prior to publication.