Boyd Group Services, Nippon Sheet Glass (NSG) Group and Sisecam all turned in higher sales as part of recently released earnings. Here are the highlights of those financial reports:
Boyd Group Services
- Second quarter sales increased by 22.9% from the year-ago period to $753.2 million. Same-store sales increased 18.9%.
- Gross profit totaled $342.7 million, a 23.5% increase compared to the prior year.
- The company added 25 collision repair locations, including 19 acquired locations and six new locations.
“We are pleased to have opened or acquired 57 collision repair locations thus far in 2023, and the pipeline to add new locations and to expand into new markets is robust,” says CEO Timothy O’Day. “Operationally, we are focused on optimizing performance of new locations, as well as scanning and calibration services. … 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.”
Boyd—a Canadian corporation with U.S. retail auto glass operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com—also announced the appointment of Jeff Murray as its executive vice president and chief financial officer.
- First quarter revenue for the Tokyo-based company’s 2024 fiscal year totaled $1.43 billion, a 16.9% increase over the year-ago period. The company’s auto glass business accounted for 49% of that revenue.
- Revenue for its auto glass division totaled $692.79 million, a 23.7% increase from the prior year. Revenue and profit generated by the Americas, which account for 40% of the company’s total auto glass sales, increased from the previous year as “demand benefitted from a recovery in vehicle sales and a lessening of supply chain constraints.”
- Concerning its auto glass business, the company said: “Revenue and operating profit improved in all regions. Sales volumes increased with an ease of constrained vehicle build. Sales prices improved reflecting further progress in price improvement to mitigate the impact of materials and other [increased costs].”
- Consolidated net sales for the Istanbul, Turkey-based company totaled $2.9 billion in the first half of 2023. International sales accounted for 64% of its total sales.
- The company completed repairs and upgrades on its second glass packaging furnace in the country of Georgia. The furnace, which was fired in June, expanded the glass production capacity of Sisecam—the country’s sole glass producer—by 25%.
- Ahmet Kirman, chairman and executive member of Sisecam’s board of directors, was recognized as the “Glass Person of the Year 2023” by the Phoenix Award Committee for his contributions to the development of the global glass industry.