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Posted by Defense World Staff on Apr 1st, 2026

Shares of Plexus Corp. (NASDAQ:PLXS – Get Free Report) have been assigned an average rating of “Moderate Buy” from the six research firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $194.20.

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Plexus from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 6th. Wall Street Zen cut Plexus from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Williams Trading set a $195.00 price target on Plexus in a research report on Wednesday, January 28th. Needham & Company LLC lifted their price target on Plexus from $165.00 to $206.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. Finally, Benchmark reiterated a “buy” rating and issued a $220.00 price objective on shares of Plexus in a report on Monday, March 16th.

Check Out Our Latest Analysis on PLXS

Plexus Stock Performance Shares of PLXS opened at $202.54 on Wednesday. Plexus has a 12-month low of $103.43 and a 12-month high of $220.17. The company has a current ratio of 1.59, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. The company has a market cap of $5.43 billion, a PE ratio of 31.50 and a beta of 0.81. The stock has a 50-day moving average price of $196.39 and a 200-day moving average price of $165.55.

Plexus (NASDAQ:PLXS – Get Free Report) last posted its quarterly earnings data on Wednesday, January 28th. The technology company reported $1.78 earnings per share for the quarter, topping the consensus estimate of $1.77 by $0.01. Plexus had a net margin of 4.28% and a return on equity of 12.39%. The company had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the business earned $1.73 earnings per share. Plexus’s revenue for the quarter was up 9.6% compared to the same quarter last year. Plexus has set its Q2 2026 guidance at 1.800-1.950 EPS. As a group, equities analysts forecast that Plexus will post 5.9 earnings per share for the current fiscal year.

Insider Buying and Selling In other Plexus news, CFO Patrick John Jermain sold 2,321 shares of the business’s stock in a transaction on Thursday, February 12th. The shares were sold at an average price of $201.12, for a total value of $466,799.52. Following the completion of the sale, the chief financial officer directly owned 14,561 shares of the company’s stock, valued at $2,928,508.32. The trade was a 13.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Oliver K. Mihm sold 9,541 shares of the company’s stock in a transaction dated Wednesday, February 18th. The shares were sold at an average price of $201.40, for a total transaction of $1,921,557.40. Following the sale, the chief operating officer owned 12,809 shares of the company’s stock, valued at approximately $2,579,732.60. The trade was a 42.69% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 49,495 shares of company stock worth $10,009,836 over the last ninety days. Corporate insiders own 1.78% of the company’s stock.

Institutional Investors Weigh In On Plexus Hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Investing LLC boosted its holdings in Plexus by 1.6% in the 4th quarter. Inspire Investing LLC now owns 3,178 shares of the technology company’s stock worth $467,000 after buying an additional 50 shares during the period. Allworth Financial LP raised its holdings in Plexus by 20.8% during the fourth quarter. Allworth Financial LP now owns 302 shares of the technology company’s stock valued at $44,000 after acquiring an additional 52 shares during the period. Maryland State Retirement & Pension System lifted its position in shares of Plexus by 1.5% in the fourth quarter. Maryland State Retirement & Pension System now owns 3,940 shares of the technology company’s stock valued at $579,000 after acquiring an additional 60 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its stake in shares of Plexus by 1.2% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 6,175 shares of the technology company’s stock worth $908,000 after acquiring an additional 71 shares during the period. Finally, Uncommon Cents Investing LLC boosted its stake in shares of Plexus by 0.8% in the fourth quarter. Uncommon Cents Investing LLC now owns 9,925 shares of the technology company’s stock worth $1,459,000 after acquiring an additional 75 shares during the period. Institutional investors own 94.45% of the company’s stock.

Plexus Company Profile (Get Free Report)

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.

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Posted by Defense World Staff on Apr 8th, 2026

SG Americas Securities LLC lessened its position in Plexus Corp. (NASDAQ:PLXS – Free Report) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,521 shares of the technology company’s stock after selling 8,112 shares during the period. SG Americas Securities LLC’s holdings in Plexus were worth $1,253,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Plexus by 44.2% in the third quarter. American Century Companies Inc. now owns 1,103,892 shares of the technology company’s stock valued at $159,722,000 after purchasing an additional 338,119 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Plexus by 23.3% in the third quarter. Massachusetts Financial Services Co. MA now owns 240,192 shares of the technology company’s stock valued at $34,753,000 after purchasing an additional 45,425 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Plexus by 28.3% in the third quarter. JPMorgan Chase & Co. now owns 240,460 shares of the technology company’s stock valued at $34,792,000 after purchasing an additional 52,967 shares in the last quarter. Nicola Wealth Management LTD. bought a new stake in Plexus in the third quarter valued at approximately $6,655,000. Finally, Vanguard Group Inc. increased its stake in Plexus by 0.6% in the third quarter. Vanguard Group Inc. now owns 3,683,845 shares of the technology company’s stock valued at $533,016,000 after purchasing an additional 22,374 shares in the last quarter. Institutional investors own 94.45% of the company’s stock.

Plexus Price Performance Shares of NASDAQ:PLXS opened at $207.87 on Wednesday. The firm has a 50 day moving average of $199.37 and a 200-day moving average of $167.93. The stock has a market capitalization of $5.57 billion, a PE ratio of 32.33 and a beta of 0.75. The company has a current ratio of 1.59, a quick ratio of 0.75 and a debt-to-equity ratio of 0.06. Plexus Corp. has a 12 month low of $108.21 and a 12 month high of $220.17.

Plexus (NASDAQ:PLXS – Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The technology company reported $1.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.77 by $0.01. Plexus had a net margin of 4.28% and a return on equity of 12.39%. The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $1.73 EPS. The firm’s revenue was up 9.6% on a year-over-year basis. Plexus has set its Q2 2026 guidance at 1.800-1.950 EPS. On average, equities research analysts predict that Plexus Corp. will post 5.9 EPS for the current fiscal year.

Wall Street Analyst Weigh In Several brokerages have commented on PLXS. Wall Street Zen downgraded shares of Plexus from a “buy” rating to a “hold” rating in a research note on Sunday, March 8th. Weiss Ratings raised shares of Plexus from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 6th. Zacks Research raised shares of Plexus from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 6th. Needham & Company LLC increased their price objective on shares of Plexus from $165.00 to $206.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Stifel Nicolaus increased their price objective on shares of Plexus from $150.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $194.20.

Check Out Our Latest Research Report on PLXS

Insider Buying and Selling at Plexus In related news, COO Oliver K. Mihm sold 9,541 shares of the stock in a transaction on Wednesday, February 18th. The shares were sold at an average price of $201.40, for a total transaction of $1,921,557.40. Following the transaction, the chief operating officer directly owned 12,809 shares of the company’s stock, valued at $2,579,732.60. This represents a 42.69% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Dean A. Foate sold 5,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $204.89, for a total transaction of $1,024,450.00. Following the transaction, the chairman owned 15,000 shares in the company, valued at approximately $3,073,350. The trade was a 25.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 49,495 shares of company stock valued at $10,009,836 over the last 90 days. Insiders own 1.78% of the company’s stock.

Plexus Profile (Free Report)

Plexus Corp. (NASDAQ: PLXS) is a global provider of electronics manufacturing services (EMS) and precision engineered electronics solutions. Headquartered in Neenah, Wisconsin, the company partners with original equipment manufacturers across industries such as medical, industrial, aerospace and defense, computing, and communications. Plexus offers a full suite of services that span new product introduction, product lifecycle management, supply chain management, printed circuit board assembly, system integration, and aftermarket support.

Founded in 1979, Plexus has grown from a regional electronics assembler into a multinational organization with manufacturing and engineering centers across North America, Europe, and Asia.

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NEENAH, WI, April 29, 2026 (GLOBE NEWSWIRE) -- Plexus Corp. (NASDAQ: PLXS) today announced financial results for our fiscal second quarter ended April 4, 2026, and guidance for our fiscal third quarter ending July 4, 2026.

Reports record fiscal second quarter 2026 revenue of $1.164 billion, GAAP operating margin of 5.3% and GAAP diluted EPS of $1.82.Reports fiscal second quarter 2026 non-GAAP operating margin of 6.0% and non-GAAP diluted EPS of $2.05, excluding $0.23 of stock-based compensation expense.Initiates fiscal third quarter 2026 revenue guidance of $1.200 billion to $1.250 billion with GAAP diluted EPS of $1.25 to $1.41, including $0.77 of stock-based compensation expense. Fiscal third quarter non-GAAP EPS guidance of $2.02 to $2.18 excludes stock-based compensation expense.
  Three Months Ended  Apr 4, 2026 Apr 4, 2026 Jul 4, 2026  Q2F26 Results Q2F26 Guidance Q3F26 GuidanceSummary GAAP Items     Revenue (in billions)$1.164  $1.110 to $1.150 $1.200 to $1.250Operating margin 5.3%  4.9% to 5.3% 4.1% to 4.5%Diluted EPS$1.82  $1.53 to $1.68 $1.25 to $1.41       Summary Non-GAAP Items (1)     Adjusted operating margin (2) 6.0%  5.6% to 6.0% 5.9% to 6.3%Adjusted EPS (3)$2.05  $1.80 to $1.95 $2.02 to $2.18Return on invested capital (ROIC) 13.8%     Economic return 4.8%            (1) Refer to Non-GAAP Supplemental Information tables for additional information regarding non-GAAP financial measures.
(2) Excludes stock-based compensation expense of approximately 70 bps for Q2F26 results and Q2F26 guidance and 180 bps for Q3F26 guidance.
(3)Excludes stock-based compensation expense, net of tax, of $0.23 for Q2F26 results, $0.27 for Q2F26 guidance and $0.77 for Q3F26 guidance.
Fiscal Second Quarter 2026 Information

Won 30 manufacturing programs during the quarter representing a record $355 million in annualized revenue when fully ramped into production.Generated free cash flow of $16.0 million. Purchased $20.6 million of our shares at an average price of $189.22 per share under our 2026 Share Repurchase Program, leaving $42.0 million available under our existing $100.0 million authorization.
Todd Kelsey, President and Chief Executive Officer, commented, “Our momentum is accelerating broadly. For the fiscal second quarter, we increased revenue significantly year-over-year, delivered record manufacturing wins, expanded our efficiency efforts and generated robust profitability. We produced record revenue of $1.164 billion, which exceeded our guidance range and increased 19% year-over-year with significant contributions from all market sectors. In addition, non-GAAP operating margin of 6.0% met the high end of guidance, while non-GAAP EPS of $2.05 exceeded guidance.”

Mr. Kelsey added, “Our go-to-market team achieved record quarterly manufacturing wins of $355 million in annualized revenue. This included broad-based programs in aerospace and defense, expanded relationships and share gains in surgical and imaging platforms, a new engagement in data center power solutions and continued share gains in semiconductor capital equipment. While achieving this tremendous wins result, we also expanded our funnel of qualified manufacturing opportunities.”

Patrick Jermain, Executive Vice President and Chief Financial Officer, commented, “Our fiscal second quarter cash cycle of 64 days represented a better-than-expected sequential improvement of 5 days, the benefit of continued progress on working capital initiatives and stronger-than-guided revenue. Our favorable cash cycle combined with our strong operating performance produced a fiscal second quarter return on invested capital of 13.8%, which exceeded our cost of capital by 480 basis points. We also delivered $16 million in free cash flow for the fiscal second quarter, a result that surpassed our projections. We are strategically increasing working capital investments in support of accelerating revenue growth, with an expectation to maintain cash cycle days consistent with our recent performance. As a result, we now expect to generate fiscal 2026 free cash flow in the range of $50 to $75 million.”

Mr. Kelsey continued, “We anticipate continued strong performance for our fiscal third quarter from program ramps, improved end-market demand and our sustained focus on operational efficiency. We are guiding revenue of $1.200 to $1.250 billion, representing 5% sequential and 20% year-over-year growth at the midpoint, non-GAAP operating margin of 5.9% to 6.3% and non-GAAP EPS of $2.02 to $2.18.”

Mr. Kelsey concluded, “Plexus’ consistent focus on redefining excellence through our unmatched quality and delivery is shaping our decision-making and sustaining our tremendous momentum. Leveraging this momentum, and our excellent financial performance year to date, we now expect Plexus to deliver mid-teens or greater fiscal 2026 revenue growth, with robust operating performance.”

Quarterly ComparisonThree Months Ended(in thousands, except EPS)Apr 4, 2026 Jan 3, 2026 Mar 29, 2025Revenue$1,163,757  $1,069,852  $980,170 Gross profit 119,176   106,138   97,751 Operating income 61,837   54,464   48,791 Net income 49,809   41,182   39,073 Diluted EPS$1.82  $1.51  $1.41       Gross margin 10.2%   9.9%   10.0%Operating margin 5.3%   5.1%   5.0%      ROIC (1) 13.8%   13.2%   13.7%Economic return (1) 4.8%   4.2%   4.8%      (1) Refer to Non-GAAP Supplemental Information tables for non-GAAP financial measures discussed and/or disclosed in this release, such as adjusted operating margin, adjusted net income, adjusted diluted EPS, ROIC and economic return. Business Segment and Market Sector Revenue

Plexus measures operational performance and allocates resources on a geographic segment basis. Plexus also reports revenue based on the market sector breakout set forth in the table below, which reflects Plexus’ market sector focused strategy. Top 10 customers comprised 54% of revenue during the second quarter of fiscal 2026. This is up 2 percentage points from the first quarter of fiscal 2026 and up 3 percentage points from the second quarter of fiscal 2025.

Business Segments ($ in millions)Three Months Ended  Apr 4, 2026 Jan 3, 2026 Mar 29, 2025Americas$397  $345  $295 Asia-Pacific 652   612   587 Europe, Middle East and Africa 116   118   103 Elimination of inter-segment sales (1)   (5)   (5) Total Revenue$1,164  $1,070  $980         Market Sectors ($ in millions)Three Months Ended Apr 4, 2026 Jan 3, 2026 Mar 29, 2025Aerospace/Defense$21218%  $17817%  $17218% Healthcare/Life Sciences 47341%   46643%   41142% Industrial 47941%   42640%   39740% Total Revenue$1,164  $1,070  $980  Non-GAAP Supplemental Information

Plexus provides non-GAAP supplemental information, such as ROIC, economic return and free cash flow, because such measures are used for internal management goals and decision-making, and because they provide management and investors with additional insight into financial performance. In addition, management uses these and other non-GAAP measures, such as adjusted operating income, adjusted operating margin, adjusted net income and adjusted diluted EPS, to provide a better understanding of core performance for purposes of period-to-period comparisons. Plexus believes that these measures are also useful to investors because they provide further insight by eliminating the effect of non-recurring items that are not reflective of continuing operations. For additional information on non-GAAP measures, please refer to the attached Non-GAAP Supplemental Information tables.

ROIC and Economic Return

ROIC for the second quarter of fiscal 2026 was 13.8%. Plexus defines ROIC as tax-effected annualized adjusted operating income divided by average invested capital over a three-quarter period for the second fiscal quarter. Invested capital is defined as equity plus debt and operating lease obligations, less cash and cash equivalents. Plexus' weighted average cost of capital for fiscal 2026 is 9.0%. ROIC for the second quarter of fiscal 2026 less Plexus’ weighted average cost of capital resulted in an economic return of 4.8%.

Free Cash Flow

Plexus defines free cash flow as cash flows provided by operations less capital expenditures. For the three months ended April 4, 2026, cash flows provided by operations was $28.5 million and capital expenditures were $12.5 million, which resulted in free cash flow of $16.0 million.

Cash Cycle DaysThree Months Ended  Apr 4, 2026 Jan 3, 2026 Mar 29, 2025Days in Accounts Receivable55  58  57 Days in Contract Assets12  13  12 Days in Inventory120  124  132 Days in Accounts Payable(74)  (71)  (70) Days in Advanced Payments(49)  (55)  (63) Annualized Cash Cycle (1)64  69  68        (1) Plexus calculates cash cycle as the sum of days in accounts receivable, days in contract assets and days in inventory, less days in accounts payable and days in advanced payments.
Conference Call and Webcast Information

What:   Plexus Fiscal 2026 Q2 Earnings Conference Call and WebcastWhen:   Thursday, April 30, 2026 at 8:30 a.m. Eastern TimeWhere:   Participants are encouraged to join the live webcast at the investor relations section of the Plexus website, plexus.com. Participants can also join utilizing the links below:Webcast link:
https://events.q4inc.com/attendee/177402160

Replay:   The webcast will be archived on the Plexus website and will be available as on-demand for 12 months Investor and Media Contact
Shawn Harrison
+1.920.969.6325
[email protected]

About Plexus
At Plexus, we help create the products that build a better world. Driven by a passion for excellence, we partner with our customers to design, manufacture and service highly complex products in demanding regulatory environments. From life-saving medical devices and mission-critical aerospace and defense products to industrial automation systems and semiconductor capital equipment, our innovative solutions across the lifecycle of a product converge where advanced technology and human impact intersect. We provide these solutions to market-leading as well as disruptive global companies in the Aerospace/Defense, Healthcare/Life Sciences, and Industrial sectors, supported by a global team of over 20,000 members across our 27 facilities. For more information about Plexus, visit our website at www.plexus.com.

Safe Harbor and Fair Disclosure Statement
The statements contained in this press release that are guidance or which are not historical facts (such as statements in the future tense and statements including believe, expect, intend, plan, anticipate, goal, target and similar terms and concepts), including all discussions of periods which are not yet completed, are forward-looking statements that involve risks and uncertainties. These risks and uncertainties include the effects of tariffs, trade disputes, trade agreements and other trade protection measures; the effects of shortages, delays and price fluctuations in obtaining components as a result of economic cycles, capacity constraints, natural disasters or otherwise; the risk of customer delays, changes, cancellations or forecast inaccuracies in both ongoing and new programs; the particular risks relative to new or recent customers, programs or services, which risks include customer and other delays, start-up costs, potential inability to execute, the establishment of appropriate engagement terms, and the lack of a track record of order volume and timing; the risk that new program wins and/or customer demand may not result in the expected revenue or profitability; the lack of visibility of future orders, particularly in view of changing economic conditions; the economic performance of the industries, sectors and customers we serve; the effects of the volume of revenue from certain sectors or programs on our margins in particular periods; our ability to secure new customers, maintain our current customers and deliver product on a timely basis; the risks of concentration of work for certain customers; the effects of start-up costs of new programs and facilities or the costs associated with winding down programs or the closure or consolidation of facilities; possible unexpected costs and operating disruption in transitioning programs, including transitions between Company facilities; the risks associated with excess and obsolete inventory, including the risk that inventory purchased on behalf of our customers may not be consumed or otherwise paid for by the customer, resulting in an inventory write-off; the fact that customer orders may not lead to long-term relationships; our ability to manage successfully and execute a complex business model characterized by high product mix and demanding quality, regulatory, and other requirements; the outcome of litigation and regulatory investigations and proceedings, including the results of any challenges with regard to such outcomes; the ability to realize anticipated savings from restructuring or similar actions, as well as the adequacy of related charges as compared to actual expenses; risks related to information technology systems and data security; increasing regulatory and compliance requirements; any tax law changes and related foreign jurisdiction tax developments; current or potential future barriers to the repatriation of funds that are currently held outside of the United States as a result of actions taken by other countries or otherwise; the potential effects of jurisdictional results on our taxes, tax rates, and our ability to use deferred tax assets and net operating losses; the weakness of the economy regionally or globally; the effect of changes in the pricing and margins of our services; raw materials and component cost fluctuations; the potential effect of fluctuations in the value of the currencies in which we transact business; the effects of changes in economic conditions, political conditions and regulatory matters in the United States and in the other countries in which we do business; the potential effect of other events outside our control, such as the conflict between Russia and Ukraine, conflict in the Middle East (including in Iran), escalating tensions between China and Taiwan or China and the United States, tensions in or amongst countries in which we operate or transact business, changes in energy prices, terrorism, global health epidemics and weather events; the impact of increased competition; an inability to successfully manage human capital; changes in financial accounting standards; and other risks detailed herein and in our other Securities and Exchange Commission filings, particularly in Risk Factors contained in our fiscal 2025 Form 10-K.

PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in thousands, except per share data)(unaudited)       Three Months Ended Six Months Ended Apr 4, Mar 29, Apr 4, Mar 29, 2026
 2025
 2026
 2025
Net sales$1,163,757  $980,170  $2,233,609  $1,956,292 Cost of sales 1,044,581   882,419   2,008,295   1,757,849 Gross profit 119,176   97,751   225,314   198,443 Operating expenses:       Selling and administrative expenses 57,339   48,960   109,013   98,109 Restructuring and other charges, net —   —   —   4,683 Operating income 61,837   48,791   116,301   95,651 Other income (expense):       Interest expense (3,422)   (3,137)   (6,310)   (6,691) Interest income 812   871   1,796   2,105 Miscellaneous, net (1,350)   (1,502)   (2,878)   (2,548) Income before income taxes 57,877   45,023   108,909   88,517 Income tax expense 8,068   5,950   17,918   12,177 Net income$49,809  $39,073  $90,991  $76,340 Earnings per share:       Basic$1.86  $1.44  $3.40  $2.82 Diluted$1.82  $1.41  $3.32  $2.75 Weighted average shares outstanding:       Basic 26,757   27,109   26,762   27,098 Diluted 27,310   27,662   27,369   27,726  PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in thousands)(unaudited) Apr 4, Sep 27,  2026   2025 ASSETS   Current assets:   Cash and cash equivalents$303,133  $306,464 Restricted cash 48   294 Accounts receivable 702,339   656,573 Contract assets 160,382   150,654 Inventories 1,373,732   1,229,839 Prepaid expenses and other 97,569   54,969 Total current assets 2,637,203   2,398,793 Property, plant and equipment, net 535,171   546,052 Operating lease right-of-use assets 68,632   72,863 Deferred income taxes 91,663   91,349 Other assets 28,300   28,053 Total non-current assets 723,766   738,317 Total assets$3,360,969  $3,137,110     LIABILITIES AND SHAREHOLDERS’ EQUITY   Current liabilities:   Current portion of long-term debt and finance lease obligations$143,112  $45,793 Accounts payable 851,909   726,597 Advanced payments from customers 565,346   575,850 Accrued salaries and wages 90,924   109,076 Other accrued liabilities 60,989   61,367 Total current liabilities 1,712,280   1,518,683 Long-term debt and finance lease obligations, net of current portion 91,034   91,987 Long-term operating lease liabilities 25,769   29,422 Deferred income taxes 5,155   6,000 Other liabilities 36,931   36,430 Total non-current liabilities 158,889   163,839 Total liabilities 1,871,169   1,682,522 Shareholders’ equity:   Common stock 549   547 Additional paid-in-capital 689,909   695,653 Common stock held in treasury (1,298,881)   (1,255,451) Retained earnings 2,087,019   1,996,028 Accumulated other comprehensive income 11,204   17,811 Total shareholders’ equity 1,489,800   1,454,588 Total liabilities and shareholders’ equity$3,360,969  $3,137,110       PLEXUS CORP. AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in thousands)(unaudited)     Six Months Ended Apr 4, Mar 29, 2026
 2025
Cash flows from operating activities   Net income$90,991  $76,340 Adjustments to reconcile net income to net cash flows from operating activities:   Depreciation and amortization 38,493   38,925 Share-based compensation expense and related charges 15,685   14,771 Other, net (88)   (6,125) Changes in operating assets and liabilities, excluding impacts of currency:   Accounts receivable (47,335)   9,100 Contract assets (9,770)   (15,624) Inventories (145,413)   25,310 Other current and non-current assets (45,965)   (240) Accrued income taxes payable (7,006)   (12,390) Accounts payable 146,673   70,624 Advanced payments from customers (9,945)   (95,297) Other current and non-current liabilities (13,240)   (15,064) Cash flows provided by operating activities 13,080   90,330 Cash flows from investing activities   Payments for property, plant and equipment (47,650)   (46,726) Other, net (29)   (28) Cash flows used in investing activities (47,679)   (46,754) Cash flows from financing activities   Borrowings under debt agreements 384,500   127,000 Payments on debt and finance lease obligations (289,863)   (165,202) Repurchases of common stock (43,430)   (25,366) Payments related to tax withholding for share-based compensation (21,426)   (14,527) Cash flows provided by (used in) financing activities 29,781   (78,095) Effect of exchange rate changes on cash and cash equivalents 1,241   (2,381) Net decrease in cash and cash equivalents and restricted cash (3,577)   (36,900) Cash and cash equivalents and restricted cash:   Beginning of period 306,758   347,462 End of period$303,181  $310,562       PLEXUS CORP. AND SUBSIDIARIESNON-GAAP SUPPLEMENTAL INFORMATION Table 1(in thousands, except per share data)(unaudited)             Three Months Ended Six Months Ended  Apr 4, Jan 3, Mar 29, Apr 4, Mar 29,  2026
 2026
 2025
 2026
 2025
Operating income, as reported$61,837  $54,464  $48,791  $116,301  $95,651 Operating margin, as reported 5.3%   5.1%   5.0%   5.2%   4.9%            Non-GAAP adjustments:         Restructuring costs (1) —   —   —   —   4,683 Stock-based compensation 7,922   7,765   7,132   15,687   14,122 Non-GAAP operating income$69,759  $62,229  $55,923  $131,988  $114,456 Non-GAAP operating margin 6.0%   5.8%   5.7%   5.9%   5.9%            Net income, as reported$49,809  $41,182  $39,073  $90,991  $76,340            Non-GAAP adjustments:         Restructuring costs, net of tax (1) —   —   —   —   4,191 Stock-based compensation, net of tax 6,055   7,377   6,775   13,432   13,415 Adjusted net income$55,864  $48,559  $45,848  $104,423  $93,946            Diluted earnings per share, as reported$1.82  $1.51  $1.41  $3.32  $2.75            Non-GAAP per share adjustments:         Restructuring costs, net of tax (1) —   —   —   —   0.15 Stock-based compensation, net of tax 0.23   0.27   0.25   0.50   0.49 Adjusted diluted earnings per share$2.05  $1.78  $1.66  $3.82  $3.39            (1) During the six months ended March 29, 2025, restructuring costs of $4.7 million, or $4.2 million net of taxes, were incurred primarily for employee severance costs associated with a reduction in the Company’s workforce in the EMEA and AMER regions.
                                             PLEXUS CORP. AND SUBSIDIARIESNON-GAAP SUPPLEMENTAL INFORMATION Table 2(in thousands)(unaudited)      ROIC and Economic Return CalculationsSix Months Ended Three Months Ended Six Months Ended Apr 4, Jan 3, Mar 29, 2026
 2026
 2025
Operating income, as reported $116,301   $54,464   $95,651 Restructuring and other charges, net+ —  + —  + 4,683 Adjusted operating income $116,301   $54,464   $100,334  x 2  x 4  x 2          Adjusted annualized operating income $232,602   $217,856   $200,668 Adjusted effective tax ratex 17%  x 17%  x 13% Tax impact  39,542    37,036    26,087 Adjusted operating income (tax-effected) $193,060   $180,820   $174,581          Average invested capital÷$1,401,134  ÷$1,374,532  ÷$1,276,742 ROIC  13.8%    13.2%    13.7% Weighted average cost of capital- 9.0%  - 9.0%  - 8.9% Economic return  4.8%    4.2%    4.8%                 Average Invested Capital CalculationsApr 4, Jan 3, Sep 27, Jun 28, Mar 29, Dec 28, Sep 28,  2026
 2026
 2025
 2025
 2025
 2024
 2024
 Equity$1,489,800  $1,481,063  $1,454,588  $1,419,085  $1,351,675  $1,319,069  $1,324,825  Plus:              Debt and finance lease obligations - current 143,112   66,837   45,793   50,678   121,014   121,977   157,325  Operating lease obligations - current (1) 7,758   7,943   8,253   8,470   9,968   14,875   14,697  Debt and finance lease obligations - long-term 91,034   91,139   91,987   92,215   88,761   88,728   89,993  Operating lease obligations - long-term 25,769   27,327   29,422   31,192   32,720   35,124   32,275  Less: Cash and cash equivalents (303,133)   (248,825)   (306,464)   (237,567)   (310,531)   (317,161)   (345,109)   $1,454,340  $1,425,484  $1,323,579  $1,364,073  $1,293,607  $1,262,612  $1,274,006                  (1)Included in other accrued liabilities on the Condensed Consolidated Balance Sheets.

Plexus (PLXS - Free Report) came out with quarterly earnings of $2.05 per share, beating the Zacks Consensus Estimate of $1.87 per share. This compares to earnings of $1.66 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of +9.43%. A quarter ago, it was expected that this electronic manufacturing services company would post earnings of $1.77 per share when it actually produced earnings of $1.78, delivering a surprise of +0.56%.

Over the last four quarters, the company has surpassed consensus EPS estimates four times.

Plexus, which belongs to the Zacks Electronics - Manufacturing Services industry, posted revenues of $1.16 billion for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 2.99%. This compares to year-ago revenues of $980.17 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

Plexus shares have added about 67.6% since the beginning of the year versus the S&P 500's gain of 4.3%.

What's Next for Plexus?While Plexus has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for Plexus was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $2.00 on $1.15 billion in revenues for the coming quarter and $7.74 on $4.52 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Electronics - Manufacturing Services is currently in the top 10% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

C3.ai, Inc. (AI - Free Report) , another stock in the broader Zacks Computer and Technology sector, has yet to report results for the quarter ended April 2026.

This company is expected to post quarterly loss of $0.38 per share in its upcoming report, which represents a year-over-year change of -137.5%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

C3.ai, Inc.'s revenues are expected to be $49.75 million, down 54.2% from the year-ago quarter.

PLXS beats Q2 EPS estimates and posts higher revenues, fueled by strong program wins and rising demand, while boosting its fiscal 2026 growth outlook.

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Value ScoreFinding good stocks at good prices, and discovering which companies are trading under their true value, are what value investors like to focus on. So, the Value Style Score takes into account ratios like P/E, PEG, Price/Sales, Price/Cash Flow, and a host of other multiples to highlight the most attractive and discounted stocks.

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Momentum ScoreMomentum traders and investors live by the saying "the trend is your friend." This investing style is all about taking advantage of upward or downward trends in a stock's price or earnings outlook. Employing factors like one-week price change and the monthly percentage change in earnings estimates, the Momentum Style Score can indicate favorable times to build a position in high-momentum stocks.

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Stock to Watch: Plexus (PLXS - Free Report) Founded in 1979, Neenah, WI-based Plexus Corp. is a leading provider of electronic contract manufacturing services to original equipment manufacturers (OEMs) in a wide range of industries, including Healthcare/Life Sciences, Industrial and Aerospace/Defense market sectors.

PLXS is a #3 (Hold) on the Zacks Rank, with a VGM Score of B.

Momentum investors should take note of this Computer and Technology stock. PLXS has a Momentum Style Score of A, and shares are up 20.9% over the past four weeks.

One analyst revised their earnings estimate upwards in the last 60 days for fiscal 2026. The Zacks Consensus Estimate has increased $0.02 to $7.74 per share. PLXS boasts an average earnings surprise of +9.4%.

With a solid Zacks Rank and top-tier Momentum and VGM Style Scores, PLXS should be on investors' short list.

Plexus (PLXS) reported earnings 30 days ago. What's next for the stock?

On June 02, 2026, Plexus Corp PLXS shares rose 3.2% today, currently priced at $280.25. The stock has experienced considerable price movement in the past year, with a 52-week range from $115.35 to $283.22.

GF Value™ verdict: The current price is $280.25, while GF Value™ estimates fair value at $146.60, indicating the stock is 91.2% overvalued.GF Score™: 81/100, which suggests a strong overall performance based on key financial aspects.Most notable signal: Insiders sold $5.3M in the last 3 months, with no buying activity reported. Is PLXS Overvalued or Undervalued? Plexus Corp PLXS is currently trading at $280.25, significantly above the GF Value™ estimate of $146.60. This represents an overvaluation of approximately 91.2%, which raises concerns regarding the stock's current price relative to its intrinsic value. The GF Valuation label classifies PLXS as significantly overvalued, suggesting that investors may face potential risks if they are buying at these elevated levels.

The margin of safety is crucial to consider in such scenarios. With the stock trading well above its GF Value™, investors may be exposed to considerable downside risk if the market corrects or if the company fails to meet heightened expectations. GF Value™ is GuruFocus' proprietary measure of intrinsic value, calculated from historical trading multiples, past business growth, and future performance estimates.

How Does PLXS's Valuation Compare to Its History? Metric Current Historical P/E (TTM) 41.0x 21.7x Forward P/E 29.9x N/A The current P/E ratio of Plexus Corp (41.0x) is significantly above its 5-year median P/E of 21.7x, indicating that the stock is trading at a premium compared to its historical valuation. The forward P/E of 29.9x further supports the notion that PLXS is overvalued, as it is also above historical norms. This P/E analysis aligns with the GF Value™ verdict, reinforcing the conclusion that Plexus Corp is currently overvalued.

What Does PLXS's GF Score™ Tell Us? The GF Score™ ranks stocks from 0 to 100 based on five key aspects: Financial Strength, Profitability, Growth, Valuation, and Momentum. Stocks with higher GF Score™ values have been found to generate higher long-term returns (backtested 2006-2021).

Metric Rating GF Score™ 81 Financial Strength 8/10 Profitability 8/10 Growth 10/10 Valuation 1/10 Momentum 6/10 Plexus Corp exhibits a strong GF Score™ of 81/100, driven primarily by its exceptional growth rank of 10/10 and solid ratings in financial strength and profitability (both 8/10). However, the low valuation rank of 1/10 suggests that the stock is not priced attractively based on its current valuation metrics. This indicates a potential disconnect between the company's strong operational performance and its market price, which is notably inflated at present.

What Are Insiders Doing with PLXS Stock? In the past three months, insiders have sold $5.3 million worth of Plexus Corp stock, with no reported purchases. This trend of selling may signal a lack of confidence from those with intimate knowledge of the company, which could be interpreted as a cautionary sign for potential investors. While insider selling does not always indicate negative sentiment, the absence of buying activity amidst significant sales could suggest that insiders believe the stock is overvalued at current levels.

What This Means for Investors Based on the analysis of GF Value™, Plexus Corp PLXS is currently overvalued. With a significant disparity between the current share price and its intrinsic value as calculated by GF Value™, investors should exercise caution when considering an investment in this stock.

For the complete analysis, visit the Plexus Corp PLXS stock page. You can also explore the GF Value™ page for detailed valuation methodology, or use the GuruFocus Stock Screener to find similar opportunities.

Frequently Asked Questions What is PLXS's GF Score™?

PLXS has a GF Score™ of 81/100, indicating a strong overall performance based on key financial aspects and suggesting good long-term return potential.

Is PLXS overvalued or undervalued?

PLXS is currently overvalued, with a GF Value™ of $146.60 indicating a significant discrepancy from its current price of $280.25.

What is PLXS's P/E ratio?

PLXS's P/E (TTM) is 41.0x, which is 89% above its 5-year median P/E of 21.7x, indicating the stock is trading at a premium compared to its historical valuation.

This stock alert was generated using automated technology and GuruFocus financial data to provide readers with timely and accurate market reporting. This content was reviewed by GuruFocus editorial team prior to publication. Please send any questions or comments about this story to [email protected].

, /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("BGSI", "Boyd", or "the Boyd Group") is pleased to announce the appointment of Steve Hoeft as Chief Operations Officer for the Boyd Group's U.S. collision business and the appointment of Zach Balthrop as Chief Commercial Officer for the Boyd Group. 

Mr. Hoeft joins Boyd following nine years with Bridgestone Americas, where he most recently served as President of the Commercial Truck Group since 2022.  In that role, he led a large-scale business unit across the U.S. and Canada, with responsibility spanning multiple channels, including OEM, commercial dealer and national fleet accounts. Key areas of responsibility included oversight of a commercial network of approximately 4,000 locations, as well as key functions such as product planning, demand planning and supply chain. Prior to his time at Bridgestone Americas, Steve held leadership positions at Brink's, Inc., Advance Auto Parts, and Corporate Express (a Staples, Co.).

Mr. Balthrop has been with the company since 2024 and has served as the leader of Boyd's South Division, where he has consistently delivered strong performance and operational excellence. Prior to his time at Boyd, Zach most recently held the role of Chief Commercial Officer at FYX Fleet and the role of Senior Vice President, Sales, Marketing and Customer Experience at Pep Boys Auto Service and Tires. As Chief Commercial Officer, he will be focused on leveraging the sales resources we have across the company to holistically support all lines of business and continue to enhance and expand our client relationships. Cameron Dickson, who previously held the role of Chief Operating Officer at Joe Hudson's Collision Center prior to the acquisition by Boyd, will take over the role of Senior Vice President of Boyd's South Division.

"These enhancements to our leadership structure have been implemented to add further strength to our executive team and align our organization with the evolving needs of the business," said Brian Kaner, President and Chief Executive Officer of the Boyd Group. "Steve Hoeft's extensive experience across a large commercial network of approximately 4,000 locations makes him the ideal leader to champion our operational strategy. In this role, he will oversee the U.S. Collision Operations, Mobile Solutions, Procurement, Continuous Improvement & Operational Excellence, as well as Safety, ensuring we continue to strengthen our market position, advance our strategic and corporate objectives and deliver the highest quality service across our U.S. collision business."

"The creation of the Chief Commercial Officer role is a key step in our growth strategy," continued Mr. Kaner. "Zach's leadership will be instrumental in driving our commercial efforts by overseeing sales, client performance, M&A, and marketing across our business units. Together, these appointments enhance our leadership depth and position the organization to execute on its strategic priorities," concluded Mr. Kaner.

About Boyd Group Services Inc.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.

About The Boyd Group Inc.

Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries ("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade name Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S., under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The Company also operates Mobile Auto Solutions ("MAS") in the U.S. and Volta Auto Diagnostics Ltd. ("Volta") in Canada that offer scanning and calibration services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.

Caution concerning forward-looking statements

Statements made in this press release, other than those concerning historical information, may be "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws of the U.S. and Canada, respectively (collectively, "forward-looking statements") and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "will", "project", "target", "plan", "goal" or the negative thereof or similar variations.

The forward-looking statements in this press release include, without limitation, statements regarding: Boyd's outlook and expectations regarding performance relative to industry peers; trends and industry conditions;  execution of the Company's growth strategy and outlook; progress on Project 360 initiatives; the Company's financial metric goals, including for Adjusted EBITDA margin; growth opportunities presented by the Company's increased scale, greater market density, expanded platform and fragmentation; the Company's ability to execute on the pipeline of approximately eight to ten start-up locations per quarter, including expectations to open eight start-up locations in the first quarter of 2026; the Company's ability to activate the stores in its development pipeline for 2026; and the Company's ability to deliver sustained growth and value creation for shareholders and customers.

Forward-looking statements are subject to significant risks and uncertainties and are based on a number of assumptions and estimates. Forward-looking statements are based on certain assumptions and analyses made by Boyd concerning its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate. A number of factors could cause actual results, performance or achievement to differ materially from those discussed or implied in the forward-looking statements. Risks and uncertainties related to Boyd's business include, but are not limited to, risks and uncertainties relating to: acquisition and new location risk; employee relations and staffing; operational performance; brand management and reputation; market environment change; reliance on technology;  corporate governance; decline in number of insurance claims; low capture rates; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; public company costs; foreign private issuer status; differences in Canadian and U.S. corporate and securities laws; enforceability against foreign persons and of foreign judgments; intellectual property; and energy costs; and Boyd's success in anticipating and managing the foregoing risks. 

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Business Risks and Uncertainties" section of Boyd's Annual Information Form, the "Business Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov. All forward-looking statements presented herein should be considered in conjunction with such filings. Readers are cautioned not to place undue reliance on such forward-looking statements, as actual results may differ materially from those expressed or implied in such statements.

The forward-looking statements in this press release reflect the Boyd's current expectations, assumptions and/or beliefs based on information currently available, including with respect to such things as conditions in the collision and auto glass repair business, including weather, accident frequency, cost of repair, miles driven and available repairable vehicles; the Company's ability to complete the integration of acquired businesses within anticipated time periods and at expected cost levels; the Company's ability to achieve synergies arising from successful integration of acquired businesses; the impact of acquisitions on growth; the accuracy and completeness of the information (including financial information) regarding acquired businesses; the absence of significant undisclosed costs or liabilities associated with acquisitions; the successful implementation of margin improvement initiatives; the future performance and results of our business and operations; general economic conditions, industry forecasts and/or trends, the government and regulatory environment and potential impacts thereof. Although the Company believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with those expressed or implied in such forward-looking statements, and they should not be unduly relied upon. There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking statements contained in this presentation describe the expectations of the Company as of the date of this press release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE Boyd Group Services Inc.

Boyd Gaming (BYD) came out with quarterly earnings of $1.6 per share, missing the Zacks Consensus Estimate of $1.76 per share. This compares to earnings of $1.62 per share a year ago.

For the quarter ended March 2026, Boyd Gaming (BYD - Free Report) reported revenue of $997.36 million, up 0.6% over the same period last year. EPS came in at $1.60, compared to $1.62 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $993.19 million, representing a surprise of +0.42%. The company delivered an EPS surprise of -8.99%, with the consensus EPS estimate being $1.76.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Boyd performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

Revenues by Segment- Managed & Other: $38.53 million versus the four-analyst average estimate of $37.97 million. The reported number represents a year-over-year change of +3.2%.Revenues by Segment- Downtown Las Vegas: $54.94 million compared to the $56.51 million average estimate based on four analysts. The reported number represents a change of -4.1% year over year.Revenues by Segment- Midwest and South: $525.09 billion versus the four-analyst average estimate of $519.46 million. The reported number represents a year-over-year change of +103963.9%.Revenues by Segment- Las Vegas Locals: $217.1 million versus the four-analyst average estimate of $223.02 million. The reported number represents a year-over-year change of -2.6%.Adjusted EBITDAR- Online: $8.36 million compared to the $7.04 million average estimate based on four analysts.Adjusted EBITDAR- Managed & Other: $28.42 million compared to the $27.5 million average estimate based on four analysts.Adjusted EBITDAR- Corporate expense: $-30.86 million versus $-24.68 million estimated by four analysts on average.Adjusted EBITDAR- Downtown Las Vegas: $18.9 million versus the four-analyst average estimate of $20.05 million.Adjusted EBITDAR- Midwest and South: $192.64 million compared to the $186.04 million average estimate based on four analysts.Adjusted EBITDAR- Las Vegas Locals: $99.96 million versus the four-analyst average estimate of $104.99 million.View all Key Company Metrics for Boyd here>>>

Shares of Boyd have returned +1.5% over the past month versus the Zacks S&P 500 composite's +9.7% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

Boyd Gaming Corporation reported a rare double miss in Q1. Softness in Las Vegas caused BYD's miss. Despite stabilizing tourism trends, the company's local and downtown casinos performed weaker than in 2025. BYD's performance in the Midwest & South remained strong, online earnings remained stable sequentially, and managed casinos boosted earnings.

Resources Investor Relations Journalists Agencies Client Login Send a Release News Products Contact , /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) will release its fiscal 2026 first quarter results on May 13, 2026, before markets open. Following the release, Management of the Company will hold a conference call at 8:00 a.m. ET to review the financial results. The call will be hosted by Brian Kaner, President and Chief Executive Officer; and Jeff Murray, Executive Vice President and Chief Financial Officer. All interested parties are invited to participate.

CONFERENCE CALL DETAILS:

DATE:

Wednesday, May 13, 2026

TIME:

8:00 a.m. (ET)

DIAL IN NUMBER:

1-800-715-9871

1-646-307-1963

WEBCAST LINK:

https://events.q4inc.com/attendee/980721311

CONFERENCE ID:

5533670

The call will also be webcast live and archived for 90 days on the Boyd Group's website https://www.boydgroup.com.

About Boyd Group Services Inc.
Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. BGSI shares trade on the Toronto Stock Exchange under the symbol BYD and on the New York Stock Exchange under the symbol BGSI.

About The Boyd Group Inc.
The Boyd Group Inc. ("Boyd") is one of the largest operators of non-franchised collision repair centres in North America in terms of number of locations and sales. Boyd operates locations in Canada under the trade names Boyd Autobody & Glass and Assured Automotive as well as in the U.S. under the trade name Gerber Collision & Glass. In addition, Boyd is a major retail auto glass operator in the U.S. with operations under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. Boyd also operates a third-party administrator, Gerber National Claims Services, that offers glass, emergency roadside and first notice of loss services. Boyd also operates a Mobile Auto Solutions ("MAS") service that offers scanning and calibration services.

SOURCE Boyd Group Services Inc.

LAS VEGAS--(BUSINESS WIRE)--Daily Racing Form (“DRF”), a subsidiary of Affinity Interactive and a brand within the Apex Hospitality platform backed by Z Capital Group, LLC (“ZCG”), today announced new multi-year print distribution agreements with American Wagering, Inc. and Boyd Gaming Corporation, further expanding its presence across key gaming and racing markets. The agreements, executed on March 16, 2026, and March 25, 2026, respectively, establish DRF as the exclusive provider of past perf.

First Quarter 2026 Highlights

All-time record sales, up 28.1% to $996.7 million All-time record Adjusted EBITDA1 increased 51.9% to $122.4 million, with Adjusted EBITDA margins1 expanding 200 basis points to 12.3% Same-store sales1 increased 1.7%; adjusting for the weather impact in the South, same-store sales growth would have been approximately 2.6% Added 269 locations, increasing collision location footprint by 33% year-over-year Achieved over $20 million in incremental Project 360 cost savings and Joe Hudson synergy realization Joe Hudson's conversion to Boyd's systems fully completed on schedule Achieved targeted level of 80% internalization of scanning and calibration Distributed first quarter 2026 cash dividend of C$0.156 per common share Reduced pro forma debt leverage from 3.1x to 2.9x , /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("Boyd Group" or "the Company") today announced record financial results for the quarter ended March 31, 2026.

"We delivered all-time record sales and Adjusted EBITDA1 in the first quarter, reflecting strong execution of our growth strategy and operational priorities. Sales increased by 28.1% while Adjusted EBITDA1 grew an even stronger 51.9%, driven by a 33% year-over-year growth in our location footprint, positive same-store sales1, and disciplined execution on Project 360 and acquisition synergies.

We achieved our third consecutive quarter of positive same-store sales, supported by market share gains and improving industry conditions that continue to drive volume growth, even as total cost of repair remained subdued. In addition to strong top-line performance, we expanded Adjusted EBITDA1 margins by 200 basis points as we continue to make meaningful progress towards our 14%+ Adjusted EBITDA margin1 goal.

I'm incredibly proud of our team's performance this quarter. We accelerated growth, continued to outperform underlying industry volume trends and to strengthen operational execution while delivering meaningful margin expansion and significantly higher profitability. Our results demonstrate the scalability of our platform, the strength of our operating model, and the disciplined execution of our strategic priorities.

As we look ahead, we remain focused on building on this momentum by executing our proven growth strategy, capturing additional market share, driving continued margin expansion, and creating long-term value for our shareholders." - Brian Kaner, President & CEO of the Boyd Group

1 Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP financial measures and ratios" section of this news release.

Financial And Operational Highlights

Three months ended

March 31,

(thousands of U.S. dollars, except per share amounts)

2026

2025

Y/Y Change

Financial Highlights

Sales

996,676

778,323

28 %

Gross margin

46.5 %

46.2 %

30 bps

Adjusted EBITDA (1)

122,385

80,545

52 %

Adjusted EBITDA margin (1)

12.3 %

10.3 %

200 bps

Net loss

(7,926)

(2,637)

N/A

Basic and diluted loss per share

(0.28)

(0.12)

N/A

Adjusted net earnings (1)(2)

16,059

6,574

144 %

Adjusted net earnings per share (1)(2)

0.58

0.31

87 %

Operational Highlights

Same-store sales growth (1)(3)

1.7 %

(2.8) %

New locations added

269

9

    From multi-location acquisitions

258

--

    From single shop acquisitions

3

3

    From start-up locations

8

6

Collision location count at period end

1,312

984

33 %

1. Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures.  Please see "Non-GAAP Financial Measures and Ratios" section of this news release.

2. Comparative figures have been restated to conform with current period presentation

3. First quarter 2026 same-store sales growth of approximately 2.6% adjusted for the unusual winter storm activity in the U.S. South

Q1 2026 Results
(First quarter 2026 compared to first quarter of 2025)

Sales increased 28.1% to an all-time record $996.7 million, driven by $203.3 million from new location growth and continued market share gains reflected in positive same-store sales[1] performance. Same-store sales increased 1.7%, or approximately 2.6% adjusted for the estimated 90 basis point impact from unusual winter storm activity in the U.S. South, marking the third consecutive quarter of same-store sales growth despite muted growth in total cost of repair. The first quarter of 2026 had the same number of selling and production days as the prior-year period.

Gross profit increased by 29.1% to $463.7 million while gross margins expanded to 46.5% in the first quarter of 2026, from 46.2%. Gross margins benefitted from increased parts and paint margins from Project 360 and Joe Hudson's synergy realization, partially offset by a lower mix of higher margin glass sales and variability in performance based pricing.

Adjusted EBITDA1 increased 51.9% to an all-time record $122.4 million with Adjusted EBITDA margins1 expanding 200 basis points to 12.3% from 10.3% reflecting the contribution from the Joe Hudson's acquisition, which is accretive to Adjusted EBITDA margin1, cost savings from Project 360 and synergy realization.

Net loss was $7.9 million, compared to $2.6 million in the same period of the prior year. The net loss was impacted by acquisition and transformational cost expenses in the first quarter of 2026 related to the Joe Hudson acquisition and Project 360. These costs are expected to decline as integration finalizes. Adjusted net earnings1 increased 144.3% to $16.1 million and Adjusted earnings per share increased to $0.58 from $0.31, driven primarily by the increase in Adjusted EBITDA1.

Boyd added 269 locations during the quarter, including 258 from the Joe Hudson's acquisition, three from single shop acquisitions and eight new start up locations. Joe Hudson's shop conversions to Boyd's systems were fully completed on schedule with expected synergies progressing in line with plan.

_______________________________________

1 Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios and are not standardized financial measures under International Financial Reporting Standards and might not be comparable to similar financial measures disclosed by other issuers. For additional details, including a reconciliation of each non-GAAP financial measure to its nearest GAAP equivalent, please see "Non-GAAP financial measures and ratios" section of this news release.

Outlook

Industry conditions continued to improve in the first quarter of 2026. Based on first quarter claims processing platform data, the Company estimates that repairable claims volume declined in the range of 0-2% during the quarter, which is now back in-line with Boyd's long-term growth framework. 

The Company's long-term growth framework contemplates average same-store sales growth of 3–5%, supported by continued incremental market share gains driven by ongoing consolidation within the highly fragmented collision repair industry, strong performance with insurance clients, and disciplined operational execution. The framework also assumes 3–4% annual growth in average total cost of repair and approximately 1% growth in miles driven, partially offset by an approximate 2% decline in repairable claims due to the impact of collision avoidance systems. While growth in average total cost of repair has remained below historical averages in recent periods, management believes a return toward target levels over time is supported by the continued normalization of key industry drivers, including rising used vehicle values and increasing vehicle complexity.

"I'm pleased to report that the normalization in repairable claims has continued to positively benefit our business early in the second quarter, with same-store sales in April approaching the low end of our long-term range. We continue to expect same-store sales growth to be complemented by contributions from new location growth as we execute our growth strategy. In the second quarter of 2026, the Company expects to open five start up locations with an additional 17 start up locations to be added through year-end. Supported by a robust pipeline of both new start up opportunities and acquisitions, we remain confident in our outlook for new location growth in 2026 and beyond." - Brian Kaner, President & CEO of the Boyd Group

2026 First Quarter Conference Call & Webcast

Management will hold a conference call on Wednesday, May 13, 2026, at 8:00 a.m. (ET) to review the Company's 2026 first quarter results. You can join the call by dialing 1-800-715-9871 or 646-307-1963. 

A live audio webcast of the conference call will be available at https://events.q4inc.com/attendee/980721311. An archived replay of the webcast will be available for 90 days on the Boyd Group's website https://www.boydgroup.com.

About Boyd Group Services Inc.

Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at https://www.boydgroup.com.

About The Boyd Group Inc.

Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries ("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade name Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S., under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The Company also operates Mobile Auto Solutions ("MAS") in the U.S. and Volta Auto Diagnostics Ltd. ("Volta") in Canada that offer scanning and calibration services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.

Non-GAAP Financial Measures and Ratios

Same-store sales, Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net earnings and Adjusted net earnings per share are non-GAAP financial measures and ratios, which are not standardized measures under International Financial Reporting Standards ("IFRS") and therefore may not be comparable to similar measures disclosed by other issuers. Boyd's management uses certain non-GAAP financial measures to evaluate the performance of the business and to reward employees. These non-GAAP should not be considered as a substitute for, or superior to, measures of financial performance prepared in accordance with IFRS, such as net earnings or sales in measuring the performance of Boyd.

The following is a reconciliation of Boyd's non-GAAP financial measures and ratios used in this release:

SAME-STORE SALES

Same-store sales is a non-GAAP measure that includes only those locations in operation for the full comparative period. Same-store sales is presented excluding the impact of foreign exchange fluctuation on the current period.

Three months ended

March 31,

(thousands of U.S. dollars)

2026

2025

Sales

$      996,676

$      778,323

Less:

Sales from locations not in the comparative period

(203,863)

(539)

Sales from under-performing facilities closed during the period

—

(862)

Foreign exchange

(2,932)

—

Same-store sales (excluding foreign exchange)

$      789,881

$      776,922

ADJUSTED EBITDA

EBITDA represents an indication of the Company's capacity to generate income from operations before taking into account management's financing decisions and costs of consuming tangible and intangible capital assets, which vary according to their vintage, technological age and management's estimates of their useful life. EBITDA comprises sales less operating expenses before finance costs, capital asset amortization and impairment charges, and income taxes.

Adjusted EBITDA is calculated to exclude items of an unusual nature that do not reflect normal or ongoing operations of BGSI and which should not be considered in a valuation metric or should not be included in an assessment of the ability to service or incur debt. Included as an adjustment to EBITDA are acquisition and transformational cost initiative expenses and fair value adjustments to contingent consideration and financial instruments which do not have a cash impact. These adjustments do not relate to the current operating performance of the business units but are typically costs incurred to expand operations as well as execute transformational plans. Acquisition and transformational costs include transaction costs in acquiring and integrating a business acquisition and other non-recurring costs related to the execution of Project 360. From time to time BGSI may make other adjustments to its Adjusted EBITDA for items that are not expected to recur. Management believes that in addition to net earnings and cash flows, Adjusted EBITDA is useful to readers to provide an indication of earnings from operations and cash available for distribution, both before and after debt management , productive capacity maintenance and non-recurring and other adjustments.

Adjusted EBITDA margin is a measure of operating profit that can be used to assess Boyd's operational performance. Adjusted EBITDA margin is calculated by dividing Adjusted EBITDA by total sales.

Three months ended

March 31,

(thousands of U.S. dollars)

2026

2025

Net loss

$         (7,926)

$         (2,637)

Add:

Finance costs

30,075

17,832

Income tax recovery

(666)

(290)

Depreciation of property, plant and equipment

26,666

20,847

Depreciation of right of use assets

42,021

31,615

Amortization of intangible assets

12,425

6,680

EBITDA

$        102,595

$         74,047

Add (deduct):

Fair value adjustments

(1,280)

1

Acquisition and transformational cost initiatives

21,070

6,497

Adjusted EBITDA

$        122,385

$         80,545

Sales

$        996,676

$       778,323

Adjusted EBITDA margin (%)

12.3 %

10.3 %

ADJUSTED NET EARNINGS

Adjusted net earnings means net earnings adjusted to add back fair value adjustments (non-taxable) and acquisition and transformational cost initiatives (net of tax). Commencing in the fourth quarter of 2025, and on a go-forward basis, the calculation of Adjusted net earnings also excludes amortization of intangibles arising on acquisitions. Amortization of intangible assets arising on acquisition is the result of the purchase price allocation on completion of an acquisition. There are no future capital expenditures associated with maintaining or replacing these intangible assets. Comparative periods have been restated to reflect this additional adjustment. BGSI believes that certain users of financial statements are interested in understanding net earnings excluding certain fair value adjustments and other items of an unusual or infrequent nature that do not reflect normal or ongoing operations of the Company.  This can assist these users in comparing current results to historical results that did not include such items.

Adjusted net earnings per share means Adjusted net earnings, divided by our weighted average number of shares for the applicable period.

(thousands of U.S. dollars, except share and per share amounts)

Three months ended

March 31,

2026

2025

Net loss

$        (7,926)

$        (2,637)

Add (deduct):

Fair value adjustments (net of tax)

(947)

1

Acquisition and transformational cost initiatives (net of tax)

16,627

4,808

Amortization of intangibles arising on acquisitions (net of tax)

8,305

4,402

Adjusted net earnings (1)

$       16,059

$         6,574

Weighted average number of shares

27,829,990

21,467,582

Adjusted net earnings per share (1)

$          0.58

$          0.31

(1) Comparative figures have been restated to conform with current period presentation

Caution concerning forward-looking statements

Statements made in this press release, other than those concerning historical information, may be "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws of the U.S. and Canada, respectively (collectively, "forward-looking statements") and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "will", "project", "target", "plan", "goal" or the negative thereof or similar variations.

The forward-looking statements in this press release include, without limitation, statements regarding: Boyd's outlook and expectations regarding performance relative to industry peers; trends and industry conditions; execution of the Company's growth strategy and outlook; progress on Project 360 initiatives; the Company's financial metric goals, including for Adjusted EBITDA margin; growth opportunities presented by the Company's increased scale, greater market density, expanded platform and fragmentation; the Company's ability and expectations to open five start-up locations in the second quarter of 2026 with an additional 17 locations to be added through year-end; and expectations to open five start-up locations in the second quarter of 2026 with an additional 17 locations to be added through year-end; execute on the pipeline of approximately eight to ten start-up locations per quarter, including expectations to open eight start-up locations in the first quarter of 2026; the Company's ability to activate the stores in its development pipeline for 2026; the Company's expectations for continued acquisition activity and the Company's ability to deliver sustained growth and value creation for shareholders and customers.

Forward-looking statements are subject to significant risks and uncertainties and are based on a number of assumptions and estimates. Forward-looking statements are based on certain assumptions and analyses made by Boyd concerning its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate. A number of factors could cause actual results, performance or achievement to differ materially from those discussed or implied in the forward-looking statements. Risks and uncertainties related to Boyd's business include, but are not limited to, risks and uncertainties relating to: acquisition and new location risk; employee relations and staffing; operational performance; brand management and reputation; market environment change; reliance on technology; corporate governance; decline in number of insurance claims; low capture rates; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; public company costs; foreign private issuer status; differences in Canadian and U.S. corporate and securities laws; enforceability against foreign persons and of foreign judgments; intellectual property; and energy costs; and Boyd's success in anticipating and managing the foregoing risks.

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Business Risks and Uncertainties" section of Boyd's Annual Information Form, the "Business Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov. All forward-looking statements presented herein should be considered in conjunction with such filings. Readers are cautioned not to place undue reliance on such forward-looking statements, as actual results may differ materially from those expressed or implied in such statements.

The forward-looking statements in this press release reflect the Boyd's current expectations, assumptions and/or beliefs based on information currently available, including with respect to such things as conditions in the collision and auto glass repair business, including weather, accident frequency, cost of repair, miles driven and available repairable vehicles; the Company's ability to complete the integration of acquired businesses within anticipated time periods and at expected cost levels; the Company's ability to achieve synergies arising from successful integration of acquired businesses; the impact of acquisitions on growth; the accuracy and completeness of the information (including financial information) regarding acquired businesses; the absence of significant undisclosed costs or liabilities associated with acquisitions; the successful implementation of margin improvement initiatives; the future performance and results of our business and operations; general economic conditions, industry forecasts and/or trends, the government and regulatory environment and potential impacts thereof. Although the Company believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with those expressed or implied in such forward-looking statements, and they should not be unduly relied upon. There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking statements contained in this presentation describe the expectations of the Company as of the date of this press release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE Boyd Group Services Inc.

, /PRNewswire/ - Boyd Group Services Inc. (TSX: BYD) (NYSE: BGSI) ("BGSI", "Boyd" or "Boyd Group") today announced that the nominees listed in the management proxy circular dated March 24, 2026 were elected as Directors of BGSI. The detailed results of the vote for the election of directors held at the Annual General Meeting on Wednesday, May 13, 2026 are set out below.

Nominee

Votes For

% For

Votes Against

% Against

David Brown

23,332,185

96.28 %

901,021

3.72 %

Brock Bulbuck

21,810,687

90.00 %

2,422,519

10.00 %

Robert Espey

24,086,561

99.39 %

146,644

0.61 %

Christine Feuell

23,802,637

98.22 %

430,569

1.78 %

John Hartmann

23,593,062

97.36 %

640,144

2.64 %

Brian Kaner

24,105,961

99.47 %

127,245

0.53 %

Violet Konkle

23,873,572

98.52 %

359,634

1.48 %

William Onuwa

23,225,241

95.84 %

1,007,964

4.16 %

Sally Savoia

23,528,541

97.09 %

704,664

2.91 %

The final voting results on all matters voted upon at the Annual General Meeting of Shareholders held on May 13, 2026 will be filed on SEDAR+ and EDGAR.

About Boyd Group Services Inc.
Boyd Group Services Inc. is a Canadian corporation and controls The Boyd Group Inc. and its subsidiaries. Boyd Group Services Inc. shares trade on the Toronto Stock Exchange (TSX) under the symbol BYD.TO and the New York Stock Exchange (NYSE) under the symbol BGSI. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at https://www.boydgroup.com.

About The Boyd Group Inc.
Boyd Group Services Inc. ("BGSI"), through its operating company, The Boyd Group Inc. and its subsidiaries ("Boyd" or the "Company"), is one of the largest operators of non-franchised collision repair centers in North America in terms of number of locations and sales. The Company currently operates locations in Canada under the trade name Boyd Autobody & Glass and Assured Automotive, as well as in the U.S. under the trade name Gerber Collision & Glass. The Company is also a major retail auto glass operator in the U.S., under the trade names Gerber Collision & Glass, Glass America, Auto Glass Service, Auto Glass Authority and Autoglassonly.com. In addition, the Company operates a third party administrator, Gerber National Claims Services ("GNCS"), that offers glass, emergency roadside and first notice of loss services. The Company also operates Mobile Auto Solutions ("MAS") in the U.S. and Volta Auto Diagnostics Ltd. ("Volta") in Canada that offer scanning and calibration services. For more information on The Boyd Group Inc. or Boyd Group Services Inc., please visit our website at http://www.boydgroup.com.

Caution concerning forward-looking statements
Statements made in this press release, other than those concerning historical information, may be "forward-looking statements" and "forward-looking information" within the meaning of applicable securities laws of the U.S. and Canada, respectively (collectively, "forward-looking statements") and therefore subject to various risks and uncertainties. Some forward-looking statements may be identified by words such as "may", "will", "anticipate", "estimate", "expect", "intend", "continue", "will", "project", "target", "plan", "goal" or the negative thereof or similar variations.

Forward-looking statements are subject to significant risks and uncertainties and are based on a number of assumptions and estimates. Forward-looking statements are based on certain assumptions and analyses made by Boyd concerning its experience and perception of historical trends, current conditions, expected future developments, and other factors it believes are appropriate. A number of factors could cause actual results, performance or achievement to differ materially from those discussed or implied in the forward-looking statements. Risks and uncertainties related to Boyd's business include, but are not limited to, risks and uncertainties relating to: acquisition and new location risk; employee relations and staffing; operational performance; brand management and reputation; market environment change; reliance on technology; corporate governance; decline in number of insurance claims; low capture rates; supply chain risk; margin pressure and sales mix changes; economic downturn; changes in client relationships; environmental, health and safety risk; climate change and weather conditions; pandemic risk; competition; access to capital; dependence on key personnel; tax position risk; increased government regulation and tax risk; fluctuations in operating results and seasonality; risk of litigation; execution on new strategies; insurance risk; interest rates; U.S. health care costs and workers compensation claims; foreign currency risk; capital expenditures; public company costs; foreign private issuer status; differences in Canadian and U.S. corporate and securities laws; enforceability against foreign persons and of foreign judgments; intellectual property; and energy costs; and Boyd's success in anticipating and managing the foregoing risks.

We caution that the foregoing list of factors is not exhaustive and that when reviewing our forward-looking statements, investors and others should refer to the "Business Risks and Uncertainties" section of Boyd's Annual Information Form, the "Business Risks and Uncertainties" and other sections of our Management's Discussion and Analysis of Operating Results and Financial Position and our other periodic filings with Canadian securities regulatory authorities and the SEC from time to time, available at www.sedarplus.ca and www.sec.gov. All forward-looking statements presented herein should be considered in conjunction with such filings. Readers are cautioned not to place undue reliance on such forward-looking statements, as actual results may differ materially from those expressed or implied in such statements.

The forward-looking statements in this press release reflect the Boyd's current expectations, assumptions and/or beliefs based on information currently available, including with respect to such things as conditions in the collision and auto glass repair business, including weather, accident frequency, cost of repair, miles driven and available repairable vehicles; the Company's ability to complete the integration of acquired businesses within anticipated time periods and at expected cost levels; the Company's ability to achieve synergies arising from successful integration of acquired businesses; the impact of acquisitions on growth; the accuracy and completeness of the information (including financial information) regarding acquired businesses; the absence of significant undisclosed costs or liabilities associated with acquisitions; the successful implementation of margin improvement initiatives; the future performance and results of our business and operations; general economic conditions, industry forecasts and/or trends, the government and regulatory environment and potential impacts thereof. Although the Company believes the expectations reflected in these forward-looking statements and the assumptions upon which they are based are reasonable, no assurance can be given that actual results will be consistent with those expressed or implied in such forward-looking statements, and they should not be unduly relied upon. There can be no assurance that such expectations and assumptions will prove to be correct. The forward-looking statements contained in this presentation describe the expectations of the Company as of the date of this press release. Except as required by law, the Company does not undertake to update or revise any forward-looking statements, whether as a result of new information, future events or for any other reason. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement.

SOURCE Boyd Group Services Inc.

Key Takeaways Tesla rolled out FSD in China with advanced city navigation and Level 3-style assisted driving.TSLA still offers one-time FSD purchases in China despite shifting globally to subscriptions.XPeng, BYD and Geely are accelerating autonomous-driving efforts to challenge Tesla in China. Tesla’s (TSLA - Free Report) long-awaited rollout of Full Self-Driving (“FSD”) in China marks a major milestone for the tech EV giant as it pushes deeper into the world’s largest auto market. The launch is significant not just because of the technology itself, but also because this move opens up a fresh monetization opportunity for the company at a time when competition in China’s EV market is intensifying rapidly. The rollout follows months of regulatory discussions and comes just days after Tesla CEO Elon Musk accompanied U.S. President Donald Trump on a high-profile visit to Beijing.

China is one of the most important markets for Tesla, accounting for a significant portion of its global deliveries and production. Until now, Tesla’s FSD technology was mainly available in the United States and select international markets, including Canada and parts of Europe, though regulatory hurdles have slowed wider expansion. China’s approval is a major breakthrough because the country has some of the world’s most advanced EV users and highly competitive domestic automakers.

Tesla’s latest rollout in China includes advanced city-navigation capabilities and Level 3-style assisted driving features in certain conditions. While Tesla still markets FSD as a driver-assistance system requiring human supervision, the technology is increasingly moving closer to higher levels of autonomy. Level 3 systems allow the vehicle to handle most driving tasks under specific conditions, though drivers must remain ready to intervene when necessary.

Notably, Tesla’s China strategy also differs from its latest global approach. Per CnEVPost, before FSD officially entered China, Tesla allowed customers to buy the software through a one-time payment of 64,000 yuan (about $9,420). However, in February, Tesla ended one-time FSD purchases globally and shifted to a subscription-only model aimed at building recurring high-margin software revenues. However, Tesla’s China website still shows the one-time purchase option.

Keeping both purchase and subscription models available could help Tesla attract a broader range of buyers. Some consumers may prefer paying once to avoid recurring costs, while others could choose subscriptions for affordability.

The FSD rollout in China signals Tesla’s broader effort to strengthen the ecosystem, expand recurring software revenue opportunities and defend its competitive position in the world’s largest and most important EV market.

XPeng, BYD & Geely Challenge Tesla’s FSD PushTesla’s FSD launch in China comes at a time when competition in autonomous driving technology is heating up rapidly. Chinese EV makers like XPeng (XPEV - Free Report) , BYD Co Ltd (BYDDY - Free Report) and Geely Automobile (GELHY - Free Report) are aggressively investing in next-generation smart-driving systems.

Among them, XPeng has emerged as one of Tesla’s strongest software-focused rivals. In March, the company introduced its VLA 2.0 (Vision-Language-Action) system across models such as the P7, G7 and X9 Ultra through over-the-air updates. Unlike traditional assisted-driving systems that separate perception, planning and control, XPeng’s new platform directly converts visual inputs into driving actions using an end-to-end AI model. Powered by the company’s in-house Turing AI chip, the system reportedly improves driving efficiency while significantly reducing sudden braking events. Industry observers view VLA 2.0 as XPeng’s direct answer to Tesla FSD.

Meanwhile, BYD and Geely are pursuing a different strategy by partnering with NVIDIA to develop Level 4 autonomous driving capabilities. Both BYD and Geely plan to use NVIDIA’s Drive Hyperion platform, which combines advanced computing, sensors, AI software, lidar, radar and cameras to support autonomous driving systems. The partnership could help BYD and Geely accelerate their robotaxi ambitions and compete more directly with Tesla and Waymo in the evolving self-driving market.

The Zacks Rundown on TSLA StockShares of Tesla have gained 22% over the past year, underperforming the industry.

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From a valuation standpoint, TSLA trades at a forward price-to-sales ratio of 14.9, above the industry and its own five-year average. It carries a Value Score of F.

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See how the Zacks Consensus Estimate for TSLA’s earnings has been revised over the past 90 days.

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Tesla stock currently carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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Key Takeaways Middleby gains from strong food processing demand, led by protein, bakery and snack categories.MIDD expands via acquisitions like Oka and Frigomeccanica, boosting product range and market reach.Middleby faces margin pressure from higher costs, tariffs and weak restaurant-driven demand. The Middleby Corporation (MIDD - Free Report) is benefiting from strength in the Food Processing Equipment Group segment. An increase in demand for protein and bakery products is supporting the segment’s performance. Rising demand for snack category products bodes well for the segment. Also, robust order rate and increasing demand for its products in the international market are acting as a tailwind.

The company aims to expand its market share, product offerings and customer base through strategic acquisitions. In August 2025, Middleby acquired Oka-Spezialmaschinenfabrik GmbH & Co. KG (Oka). The addition of Oka’s expertise in industrial extrusion, molding, depositing and cutting solutions is expected to strengthen the company’s position in the bakery and broader food processing end markets. In the same month, Middleby completed the acquisition of Frigomeccanica S.p.A. The inclusion of Frigomeccanica’s expertise in advanced protein processing solutions is expected to boost its position in the food processing end market.

In November 2024, the company acquired Gorreri Food Processing Technology. The addition of Gorreri’s expertise in advanced baked goods solutions, coupled with its innovative manufacturing processes, strengthened Middleby’s position in the food processing end market. In the same month, Middleby completed the acquisition of JC Ford, which enhanced its presence in the growing snack food category. Acquired assets boosted sales 2.7% year over year in the fourth quarter of 2025.

The company is committed to rewarding its shareholders handsomely. It remains open to repurchasing common shares opportunistically. In 2025, Middleby repurchased shares worth $723.6 million. In November 2017, MIDD's board of directors authorized a share buyback program to repurchase up to 2.5 million shares of its common stock. The board of directors approved additional authorizations of 2.5 million shares each in May 2022 and July 2024 under the existing share repurchase program. In May 2025, the company further expanded the program by authorizing the repurchase of an additional 7.5 million shares. As of Jan. 3, 2026, Middleby was left with repurchasing 6,855,060 shares.

MIDD’s Zacks RankIn the past six months, this Zacks Rank #3 (Hold) company’s shares gained 10.3%. MIDD belongs to the Manufacturing - General Industrial industry.

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However, Middleby has been witnessing weakness in the Commercial Foodservice Equipment Group segment of late. Softness in the restaurant industry, due to declining traffic, is affecting the demand for the company's products within the segment. High wages and recent food cost inflation in the US have pressured restaurant operators, leading to delayed investments, which are alarming for the segment as well.

High costs pose a threat to the company’s bottom line. During the fourth quarter of 2025, MIDD’s cost of sales increased 6.6% year over year due to higher tariffs and unfavorable product mix. In the fourth quarter, Middleby’s gross margin declined 120 basis points (bps) from the year-ago quarter. In the same period, Middleby witnessed a 25.6% year-over-year increase in the selling and administrative expenses due to high strategic transaction costs and professional fees. The metric, as a percentage of total revenues, increased 340 basis points to 20.2%. Escalating costs and expenses, if left unchecked, may negatively impact profitability in the quarters ahead.

Stocks to ConsiderSome better-ranked companies are discussed below.

Flowserve Corporation (FLS - Free Report) presently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here.

Flowserve’s earnings surpassed the consensus estimate in each of the trailing four quarters. The average earnings surprise was 17.3%. In the past 60 days, the Zacks Consensus Estimate for Flowserve’s 2026 earnings has increased 2.5%.

Nordson Corporation (NDSN - Free Report) currently carries a Zacks Rank of 2. Nordson’s earnings topped the consensus estimate in each of the trailing four quarters. The average earnings surprise was 2.5%.

In the past 60 days, the Zacks Consensus Estimate for Nordson’s fiscal 2026 earnings has increased 2%.

Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2. Parker-Hannifin’s earnings topped the consensus estimate in each of the trailing four quarters. The average earnings surprise was 6.8%.

In the past 60 days, the Zacks Consensus Estimate for Parker-Hannifin’s fiscal 2026 earnings has increased 0.3%.

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Published in industrial-products

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) will release 2026 first quarter earnings on Thursday, May 7, 2026 at 7 a.m. Eastern Time. The company has scheduled a conference call to discuss the results at 10 a.m. Eastern Time on May 7. The call is accessible through the Investor Relations section of the company website at www.middleby.com. If website access is not available, attendees can join the conference via the domestic dial-in 1-844-676-5090. International partici.

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (NASDAQ: MIDD) today announced the filing of the Form 10 registration statement (the “Form 10”) with the U.S. Securities and Exchange Commission (“SEC”) for the planned spin-off of Middleby Food Processing. A copy of the Form 10 is available on the SEC website and can also be viewed on the Investor Page of the Middleby website at middleby.com/investors. “Today's Form 10 filing reflects the strong progress we are making toward the launch of.

Middleby (MIDD) came out with quarterly earnings of $2.16 per share, beating the Zacks Consensus Estimate of $1.94 per share. This compares to earnings of $2.08 per share a year ago.

Middleby (MIDD +0.05%) just let investors know that its business is humming, and that's great timing for shareholders. The stock surged 12.2% as of 12:15 p.m. ET after Middleby beat on earnings and raised guidance.

It comes just two months before the company will restructure into two separate companies. First lets look at how the businesses are doing.

Image source: Getty Images.

Spin-off coming Middleby said total sales jumped 15%, and 12% on an organic basis. Revenue soared past consensus estimates, and earnings per share also beat expectations. The company had previously sold a majority stake in its residential kitchen business, so now only reports on its commercial foodservice and food processing segments.

Foodservice grew sales by 8.1%, but food processing blew the doors off with 25% growth. That segment will be spun off into a separate company on July 6, with existing shareholders receiving one share of the new company for each share of the current Middleby stock held.

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That move will allow managers of each new company to focus on growing a singular business, helping to unlock value for long-term shareholders. The new company will be called Middleby Food Processing and will trade with the symbol "MFP" beginning after July 6.

Management will hold an investor day next week on May 12 to provide more details on both companies and their growth prospects. It should be a beneficial move for shareholders, as new investors will treat the new companies the same way they treat an initial public offering, providing new investment opportunities.

Howard Smith has positions in Middleby. The Motley Fool has positions in and recommends Middleby. The Motley Fool has a disclosure policy.

Key Takeaways MIDD beat Q1 estimates as sales rose 15% and adjusted EPS increased 15.5% year over year.Middleby's Food Processing sales jumped 33.7% as backlog reached a record $416 million.MIDD raised full-year 2026 sales and earnings outlook amid backlog execution and pricing gains. The Middleby Corporation (MIDD - Free Report) reported first-quarter 2026 adjusted earnings of $2.16 per share, which beat the Zacks Consensus Estimate of $1.94. The bottom line increased 15.5% year over year.

Net sales of $839.9 million topped the consensus estimate of $777.1 million and increased 15% year over year. The upside was driven by robust backlog conversion in the Food Processing segment, where backlog reached a record $416 million. MIDD’s organic sales increased 11.9%. Acquisitions increased sales by 1%, while movements in foreign currencies had a positive impact of 2%.

Middleby Sees Strength Across SegmentsEffective from the fourth quarter of 2025, the company started reporting under two segments.

Sales from the Commercial Foodservice segment (representing 73.3% of net sales) were $615.5 million, up 9.4% year over year. Organic sales increased 8.1%. Foreign-currency translation had a favorable impact of 1.3%.

Sales from the Food Processing segment (26.7%) totaled $224.4 million, up 33.7% year over year. Organic sales increased 25% year over year. Acquisitions boosted sales by 4.5%, while foreign currency movements had a favorable impact of 4.2%.

Middleby’s Margin ProfileMiddleby’s cost of sales increased 18% year over year to $516.7 million. Gross profit increased 10.5% to $323.2 million. The gross margin was 38.5%, down 150 basis points (bps) from the year-ago quarter.

Selling, general and administrative expenses increased 16.4% year over year to $188.3 million. Operating income increased 3% year over year to $133.4 million. Operating margin decreased 250 bps to 15.9%.

Adjusted EBITDA increased 11.8% year over year to $180.6 million. Adjusted EBITDA margin decreased 60 bps to 21.5%.

Balance Sheet and Cash FlowExiting the first quarter of 2026, Middleby had cash and cash equivalents of $177.1 million compared with $222.2 million at the end of 2025. Long-term debt was $1.83 billion at the end of the first quarter compared with $2.13 billion at 2025-end.

In the first three months of 2026, Middleby generated net cash of $87.8 million from operating activities compared with $137.3 million in the year-ago quarter.

In the first three months, its capital expenditure totaled $7.9 million compared with $26.5 million in the year-ago quarter. Free cash flow was $79.9 million compared with $110.8 million in the year-ago quarter.

Middleby Advances Portfolio TransformationMiddleby completed the sale of a 51% stake in its Residential Kitchen business during the quarter. The transaction generated net cash proceeds of $565 million, while the company retained a 49% ownership interest in the joint venture.

The company expects the planned Food Processing spin-off to close on July 6, 2026. Management stated that the separation will create two focused, standalone businesses with distinct growth and capital allocation strategies.

MIDD Raises 2026 OutlookFor the second quarter of 2026, Middleby expects total sales in the range of $815-$850 million. Adjusted earnings are projected between $2.27 and $2.39 per share.

Commercial Foodservice sales are expected in the range of $600-$620 million, while Food Processing sales are projected between $215 million and $230 million. Adjusted EBITDA is anticipated between $180 million and $192 million.

For full-year 2026, the company raised guidance and now expects total sales between $3.36 billion and $3.44 billion compared with prior expectations of $3.27-$3.36 billion.

Adjusted EBITDA is projected between $758 million and $790 million, while adjusted earnings are expected in the range of $9.54-$9.70 per share. Management expects continued benefits from pricing actions, backlog execution and ongoing share repurchases despite tariff and inflationary pressures.

MIDD’s Zacks RankPerformance of Other CompaniesGraco Inc. (GGG - Free Report) posted quarterly earnings of 66 cents per share in the first quarter of 2026, missing the Zacks Consensus Estimate of 75 cents per share. This compares with earnings of 70 cents per share a year ago.

Graco posted revenues of $540.1 million for the quarter, missing the Zacks Consensus Estimate by 3.5%. This compares with year-ago revenues of $528.3 million.

Stanley Black & Decker, Inc. (SWK - Free Report) reported first-quarter 2026 adjusted earnings of 80 cents per share, which beat the Zacks Consensus Estimate of 61 cents. The bottom line increased 6.7% year over year.

Stanley Black’s net sales of $3.85 billion beat the consensus estimate of $3.74 billion. The top line increased 2.7% from the year-ago quarter.

Ingersoll Rand Inc. (IR - Free Report) reported first-quarter 2026 adjusted earnings of 77 cents per share, which surpassed the Zacks Consensus Estimate of 74 cents. The bottom line increased 7% year over year.

Total revenues of $1.85 billion beat the consensus estimate of $1.83 billion. The top line increased 7.6% year over year.

ELGIN, Ill.--(BUSINESS WIRE)--The Middleby Corporation (Nasdaq: MIDD) today announced that its Food Processing business will operate under the name Midera Food Processing, Inc. (Midera). The launch reflects the continued advancement of Middleby's Food Processing platform into a more focused, technology-driven organization delivering total line solutions. With a foundation built over decades and a portfolio of more than 30 global brands, Midera is positioned to accelerate innovation and serve cu.

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