05:13 PM EST, 02/26/2025 (MT Newswires) -- Boyd Group Services ( BYDGF ) Wednesday after-trade released its latest five-year goal to drive growth and profitability through 2029.

Boyd intends to grow revenue to $5 billion by 2029, and achieve top-tier profitability in the North American collision-repair industry. Growth will be driven by same-store sales growth and new shop expansion. Boyd will also continue to be a strategic buyer of larger multi-location acquisitions that would be incremental to its revenue growth goals.

It also intends to double adjusted EBITDA to $700 million between 2024-2029. Project 360, launched recently, is projected to generate $100 million in recurring annual cost savings and position Boyd to grow Adjusted EBITDA by a 15% annual CAGR over the next five years. Upfront investment and transition costs related to Project 360 are forecast at $20-$23 million over the coming quarters, the company said.

The company's shares closed down $1.39 to $238.10 on the Toronto Stock Exchange.