Labor Shortage and Supply Chain Affect Boyd Group Inc. First Quarter 2022

In addition to adding 11 new locations in the first quarter of 2022, Boyd Group Services Inc. reported sales increased 32% compared to the first quarter of 2021. Boyd Group experienced $556.8 million in the first quarter of this year. The company’s adjusted net earnings decreased to $2.1 million compared to $8.3 million in the first quarter of 2021. Net earnings decreased to $1.6 million, compared to $7.7 million during the same period last year. Boyd Group operates locations in Canada, and under the auto glass names Gerber Collision & Glass, Glass America and Auto Glass Service in the United States. Boyd’s Third Party Administrator is under the name Gerber National Claim Services, offering glass, emergency roadside and first notice of loss services. Boyd Group’s financial results reflect its auto glass and collision repair investments.

“During the first quarter of 2022, we saw strong same-store sales growth in Canada and the U.S. Demand for Boyd’s services continued to substantially exceed capacity in all U.S. markets,” Timothy O’Day, Boyd Group president and CEO, said in a company statement. “During the latter part of the first quarter, we experienced some modest recovery of demand for services in Canada as remaining pandemic restrictions were lifted in most provinces. The ability to service demand continues to be constrained by market conditions, including labor availability in U.S. markets, and parts supply chain issues throughout North America.”

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