Same-store sales grow 2.2% as the company begins share repurchases.
Boyd Group Services Inc. (TSX: BYD; NYSE: BGSI) reported third quarter sales of $1,012.7 million for the three months ended Sept. 30, an increase of 28.2% from $790.2 million a year earlier, driven by locations added in its Joe Hudson’s Collision Center acquisition and same-store sales growth of 2.2%.
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased 34.3% to $132.1 million from $98.4 million, with the Adjusted EBITDA margin expanding 60 basis points to 13.0% from 12.4%.
Boyd estimated industry repairable claims volumes declined 1% to 3% year
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