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Boyd Group (BGSI) Q4-25 earnings: The $1.2B buyout & an accidental holiday walkout
Description
Boyd Group Services Inc. delivered a bizarre Q4 2025 split reality: an aggressive $1.2B M&A expansion masked by an unexpected internal capacity bottleneck and convenient accounting tweaks.
In ~10 minutes:
• Why a minor HR policy change caused a December technician walkout.
• How internalizing advanced sensor calibrations pushed EBITDA margins to 13.1%.
• The sneaky non-GAAP accounting tweak artificially fluffing Adjusted EPS.
• Why the stock plunged 12% despite securing the massive Joe Hudson buyout.
Susie and Miro unpack how Boyd is quietly turning expensive, high-tech vehicle repairs into a powerful profit engine. We also explore the soaring lease liabilities on the balance sheet and what it takes to integrate 30 newly acquired body shops every single week 🛠️.
Company: Boyd Group Services Inc. (BGSI) | Q4 FY2025
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