07:23 AM EDT, 08/13/2025 (MT Newswires) -- Boyd Group Services ( BYDGF ) , one of the largest operators of non-franchised collision repair centres in North America, on Wednesday reported a decline in net earnings in the second quarter.

For the three-months ended June 30, the company reported net earnings of US$5.4 million, compared with US$10.8 million a year earlier. Adjusted net earnings per share was US$0.50 compared with US$0.56 per share a year-ago, missing the consensus estimate compiled by FactSet of US$0.55 per share.

Total sales for the quarter increased to US$780.4 million, compared with US$779.2 million, a year-ago, also missing consensus estimate compiled by FactSet of US$789.2 million.

"We are committed to continuing to improve our profitability as we focus on attaining our Adjusted EBITDA margin target of 14% by 2029," said Boyd Group Services ( BYDGF ) Chief Executive Brian Kaner. "We continued to expand our location footprint during the second quarter, adding eight new locations, and are on track to open 16 new start-up locations in the second half of 2025."

The company expects to realize an incremental $40 million in annualized run rate cost savings by the end of 2026, which is expected to roll out ratably between the beginning of Q3 and the end of 2026. The remaining $30 million of its $100 million cost savings target will be realized between 2027 and 2029.

Shares of the company closed up 1.3% to $193.00 on Tuesday on the Toronto Stock Exchange.