Boyd Group Reports Net Loss for First Half of 2026
The collision repair operator reported a net loss of 6.6 million USD for the six months ended June 30, 2026.
Boyd Group Services Inc. (BGSI), a North American operator of non-franchised collision repair and auto glass centers, reported a net loss of 6.6 million USD for the six months ended June 30, 2026. This followed a net earnings of 2.8 million USD during the same period in 2025.
For the three months ended June 30, 2026, the company reported net earnings of 1.3 million USD, a decrease from 5.4 million USD in the prior-year period. This resulted in basic and diluted net earnings of 0.05 USD a share for the quarter, compared to 0.25 USD a share in the second quarter of 2025.
Financial results for the first half of 2026 were impacted by rising costs. Finance costs for the six months ended June 30, 2026, rose to 60.8 million USD from 35.9 million USD in the first half of 2025. Amortization of intangible assets also increased to 32.5 million USD from 13.5 million USD over the same period.
Despite the net loss, the company expanded its physical footprint. As of August 11, 2026, the company operated 1,323 locations in Canada and 1,189 locations in the U.S.. The company added numerous U.S. locations in 2026, including 54 in Texas, 44 in Alabama, 37 in Florida, and 17 in Georgia.
Total assets grew to 4.3 billion USD as of June 30, 2026, up from 3.9 billion USD on December 31, 2025. This growth was driven by an increase in intangible assets to 1.0 billion USD and goodwill to 1.2 billion USD, compared to 356.3 million USD and 702.5 million USD respectively at the end of 2025.
Liabilities also increased, with total liabilities reaching 2.6 billion USD on June 30, 2026, compared to 2.1 billion USD on December 31, 2025. Lease liabilities rose to 891.3 million USD from 653.3 million USD during that period.
Cash flows from operating activities for the six months ended June 30, 2026, were 224.6 million USD, an increase from 170.6 million USD in the first half of 2025. The company increased its obligations under long-term debt by 97.3 million USD during the three months ended June 30, 2026.