In this week’s Tuesday Ticker, several major publicly traded aftermarket companies have announced strategic initiatives, investor developments and earnings updates with implications for the Canadian repair industry.
CarParts.com reports positive adjusted EBITDA
CarParts.com has reported positive adjusted EBITDA for the first time since the first quarter of 2024.
CEO David Meniane described the quarter as “a milestone we have been building toward for five consecutive quarters,” adding that “the evidence is in the results, and the momentum is real.” He said the improvement was driven by gains in advertising efficiency, customer acquisition quality, warehouse operations, lifecycle monetization and offshore savings.
The California-based automotive aftermarket parts e-commerce provider reported first-quarter revenue of US$132 million, down 10% year-over-year, while gross margin improved to 32.5%. Adjusted EBITDA swung to a positive US$585,000 from a loss of US$6.2 million a year earlier, while net loss narrowed to US$1.9 million from US$15.3 million.
The company also highlighted several strategic initiatives. Its A-Premium private-label automotive parts brand is approaching a US$45 million annualized revenue run rate, up from US$35 million at year-end. CarParts.com also said 7,000 products from its JC Whitney aftermarket parts and accessories brand have launched on Amazon and are generating growing weekly sales. The company additionally launched a branded Mastercard, opened a Taipei sourcing office to support supplier relationships in Asia and expanded next-day delivery operations from two warehouses.
Shares of CarParts.com, which trades on the NASDAQ under the symbol PRTS, opened at US$0.93 on May 8 following the earnings release but closed at US$0.85, nearly unchanged from the prior day’s close.
Meniane said the company increasingly views its distribution network, last-mile delivery operations and global supply chain infrastructure as central competitive advantages as digital commerce tools become more widely accessible across the aftermarket sector.
Takeover proposal lifts Driven Brands
Driven Brands Holdings has seen its stock rise since activist investor ADW Capital Management submitted an unsolicited proposal to acquire the company for US$18 per share.
Shares of Driven Brands, which trades on the NASDAQ under the symbol DRVN, closed at US$12.74 on April 29, before the offer was announced. The stock closed at US$14.16 on April 30, an increase of about 11%, before closing at US$13.53 on May 1.
The proposal placed renewed focus on the Charlotte, N.C.-based automotive services company, which operates collision repair and aftermarket brands including CARSTAR, Abra, Fix Auto USA, Maaco, Meineke and Auto Glass Now. ADW Capital said the offer represented a 41% premium to Driven Brands’ April 29 closing price and a 42% premium to its 30-day volume-weighted average price.
The offer arrived during a period of heightened investor scrutiny for the company. Earlier this year, Driven Brands disclosed that it would restate portions of prior financial statements after identifying material errors tied to lease accounting, cash adjustments, expense classification and other accounting matters. The company also disclosed material weaknesses in internal controls over financial reporting.
Driven Brands has also been restructuring parts of its business. In January, the company completed the sale of its international car wash business, IMO, for approximately €411 million, with proceeds intended primarily to reduce debt and allow the company to focus more heavily on its core North American automotive services operations. The company also reorganized its reporting structure, including separating Auto Glass Now into its own reporting segment.
Boyd Group schedules Q1 earnings conference call
Boyd Group Services has scheduled its fiscal 2026 first-quarter results conference call for May 13 at 8 a.m. ET.
The Winnipeg-based company said it will release its first-quarter results before markets open that morning. The conference call will be hosted by president and CEO Brian Kaner and executive vice-president and CFO Jeff Murray.
Boyd Group Services operates collision repair businesses including Boyd Autobody & Glass and Assured Automotive in Canada and Gerber Collision & Glass in the United States. Investors and analysts are likely to monitor updates tied to integration work following Boyd’s acquisition of Joe Hudson’s Collision Center, same-store sales performance and insurer-driven repair volumes.
Shares of Boyd Group Services, which trades on the TSX under the symbol BYD, closed at $161.20 on April 29, the day of the conference-call notice, and closed at $158.14 on May 8. Its NYSE-listed shares, which trade under the symbol BGSI, closed at US$115.43 on May 8.
