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Thursday, 12 August 2021 22:04

Boyd Group Reports 44% Sales Increase and Demand for Labor in U.S.

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...the COVID-19 pandemic and expenses were aggressively reduced accordingly,” the announcement said.

 

Boyd’s sales increased by 44.4% in the second quarter of 2021, to $444.6 million from $308 million during the same period in 2020. The company’s cash balance was $35.6 million.

 

Boyd acquired 39 locations, including 16 locations previously operated as John Harris Body Shops in Georgia and South Carolina. Just after the second quarter ended, Boyd followed up and acquired 39 additional locations, 35 of which operated as Collision Works in Oklahoma, Kansas and Missouri.

 

O’Day said, as demand continues to increase in 2021 and sales are still below pre-pandemic levels, “demand is exceeding our capacity in all U.S. markets.” The company is working on adding more staff.

 

In Canada, however, demand remains significantly lower than before the pandemic.

 

“Looking to the balance of 2021 and beyond, we continue to be confident that we will maintain progress toward our long-term growth targets and operational plans,” O’Day said.

 

We thank glassBYTEs.com for reprint permission.

 

(C) 2021 by glassbytes.com. Reprinted with permission. All rights reserved. For more information contact www.glassbytes.com.

 

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