GET DAILY SIGNALSBoyd Group Services (BGSI) Achieves Revenue Milestone While Adjusted EPS Falls Short
Key Takeaways
- Revenue climbed 28% year over year (YoY) to $1.01 billion, marking the company's first quarter above the $1 billion threshold.
- Adjusted earnings per share (EPS) of $0.68 missed the Wall Street consensus of roughly $0.84 and fell from $0.83 a year earlier.
- Reported net earnings dropped to approximately $81,000, down sharply from $10.8 million in the prior-year quarter.
- Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) rose 34% to $132.1 million, with margin expanding to 13.0%.
- Same-store sales grew 2.2%, below the 2.4% recorded a year ago as industry claims volumes softened.
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Placing the Results in Context
Boyd Group Services operates one of the largest networks of non-franchised collision repair centers across North America, with brands including Gerber Collision & Glass and Boyd Autobody & Glass. Its third quarter of fiscal 2026, ended September 30, 2026, marked the first full period incorporating the sizable Joe Hudson's Collision Center acquisition from January 2026. Combined with the ongoing Project 360 efficiency initiative, that transaction has altered the company's growth trajectory and margin structure. From what I see, the key question for investors remains whether the added scale from acquisitions can support lasting profitability gains, particularly while repairable claims volumes across the industry stay subdued. This quarter provides an important checkpoint on that approach.
Breaking Down the Reported Figures
Boyd Group Services posted third-quarter 2026 revenue of $1.01 billion, a 28% increase from $790.2 million in the year-ago period, though it came in just below the consensus estimate near $1.02 billion. Growth stemmed from $206 million in contributions from 342 locations that were not operating for a full year previously, along with 2.2% same-store sales growth. The Joe Hudson's locations alone added $170 million in sales for the quarter. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
Adjusted EPS registered $0.68, missing the consensus near $0.84 and declining from $0.83 in the prior-year quarter. On a reported basis, net earnings fell to roughly $81,000, or zero cents per diluted share, versus $10.8 million, or $0.50 per share, a year earlier. The drop reflected acquisition-related and transformation costs plus elevated intangible amortization.
Adjusted EBITDA advanced 34% to $132.1 million, lifting the margin to 13.0% from 12.4%. Gross profit rose 29% to $473.4 million, and gross margin improved 40 basis points to 46.7%, aided by stronger paint margins, scanning and calibration revenue, and savings from Project 360 along with Joe Hudson's synergies.
Market Response and Sentiment
Shares of Boyd Group Services declined more than 11% on November 11, 2026, following the release. The adjusted EPS shortfall appeared to outweigh the revenue achievement and margin improvement. Investor caution centered on higher depreciation and finance costs, a seasonally softer period, and the same-store sales pace of 2.2%, which trailed both the prior year's 2.4% and the company's longer-term 3% to 5% range. Management's note that industry repairable claims volumes fell about 1% to 3% year over year added to the measured tone.
Looking Ahead and Factors Worth Watching
Management kept its full-year 2026 guidance for maintenance capital expenditures at 1.6% to 1.8% of sales, with Joe Hudson's-related spending expected near $30 million. It also reaffirmed its cost-savings path, targeting roughly $105 million in combined Project 360 and acquisition synergies by year-end and a longer-term $140 million objective through 2029.
Key items to monitor include whether same-store sales can return toward the historical 3% to 5% band as average repair tickets strengthen. Management highlighted continued improvement in total repair costs into October, supported by greater calibration penetration. The pace of new site openings will also matter, with 11 planned for the fourth quarter and 34 more over the subsequent 12 months.
Margin sustainability stays relevant. While gross and adjusted EBITDA margins widened, elevated depreciation and finance costs linked to the acquisition continue to weigh on reported earnings. Progress on deleveraging merits attention too, given a pro forma net leverage ratio of 2.9x at September 30, 2026, down from 3.1x at the end of 2025.
Refining My Research Process
In my view, tools like Tickeron’s AI Screener help surface comparable names and technical setups more efficiently when evaluating results like these. I’ve found it useful for layering industry filters and performance metrics onto fundamental data to build a tighter watchlist without manual effort.
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Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
BGSI in upward trend: price rose above 50-day moving average on October 29, 2026
BGSI moved above its 50-day moving average on October 29, 2026 date and that indicates a change from a downward trend to an upward trend. In 24 of 38 similar past instances, the stock price increased further within the following month. The odds of a continued upward trend are 63%.
Technical Analysis (Indicators)
Bullish Trend Analysis
The Momentum Indicator moved above the 0 level on October 15, 2026. You may want to consider a long position or call options on BGSI as a result. In 49 of 82 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 60%.
The 10-day moving average for BGSI crossed bullishly above the 50-day moving average on November 02, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 10 of 17 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 59%.
Following a +6.30% 3-day Advance, the price is estimated to grow further. Considering data from situations where BGSI advanced for three days, in 79 of 160 cases, the price rose further within the following month. The odds of a continued upward trend are 49%.
The Aroon Indicator entered an Uptrend today. In 94 of 164 cases where BGSI Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 57%.
Bearish Trend Analysis
The 10-day RSI Indicator for BGSI moved out of overbought territory on November 06, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 33 similar instances where the indicator moved out of overbought territory. In 19 of the 33 cases, the stock moved lower in the following days. This puts the odds of a move lower at 58%.
The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 13 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where BGSI declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 74%.
BGSI broke above its upper Bollinger Band on November 02, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron Price Growth Rating for this company is 58 (best 1 - 100 worst), indicating steady price growth. BGSI’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron PE Growth Rating for this company is 90 (best 1 - 100 worst), pointing to worse than average earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron SMR rating for this company is 90 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Valuation Rating of 99 (best 1 - 100 worst) indicates that the company is significantly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.427) is normal, around the industry mean (1.554). BGSI's P/E Ratio (197.156) is considerably higher than the industry average of (12.811). BGSI's Projected Growth (PEG Ratio) (2.050) is slightly higher than the industry average of (0.695). Dividend Yield (0.005) settles around the average of (0.011) among similar stocks. P/S Ratio (0.593) is also within normal values, averaging (0.919).
The Tickeron Profit vs. Risk Rating rating for this company is 100 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. BGSI’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 83, placing this stock worse than average.
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Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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Industry AutomotiveAftermarket
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