06:55 AM EDT, 05/15/2024 (MT Newswires) -- Boyd Group Services ( BYDGF ) on Wednesday reported first-quarter adjusted net earnings of US$9.4 million ($12.8 million), or US$0.44 per share, down 56% from US$21.2 million, or US$0.99 per share, a year earlier.

Analysts polled by Capital IQ expected US$0.71.

Sales for the quarter ended March 31 were US$786.5 million, up 10% from US$714.9 million a year earlier.

Analysts surveyed by Capital IQ expected US$789.2 million.

Adjusted EBITDA for Q1 was US$81.7 million, down 3.5% from US$84.7 million a year earlier.

"We remain confident that the company is on track to achieve its long-term growth goals, including doubling the size of the business on a constant currency basis from 2021 to 2025 against 2019 sales," Timothy O'Day, president and chief executive officer of the Boyd Group, said.