www.sec.gov. Boyd released its 2026 second quarter results before markets open today. You can access the news release as well as the complete financial statements and management discussion and analysis on the company's website at boydgroup.com. The news release, financial statements, and MD&A have also been filed on SIDAR Plus and Edgar this morning. On today's call, Boyd will discuss the financial results for the quarter ended June 30, 2026 and provide a general business update. We will then open the call for questions. I'd like to remind everyone that this conference call is being recorded today, Wednesday, August 12, 2026.

I would now like to introduce Mr. Brian Koehner, President and Chief Executive Officer of Boyd Group Services, Inc. please go ahead mr caner thank you operator good morning everyone and thank you for joining and steve savard who recently joined our team to lead our investor relations and cap we look forward to steve in this function and driving direct and meaningful engagement with our shareholders our second quarter results reflect deliberate execution across our business evidenced by strong revenue growth meaningful margin expansion and measurable progress against our strategic priorities. Revenue increased 30% year over year, exceeding $1 billion for the first time in Boyd's history, while adjusted EBITDA grew 45%. Adjusted EBITDA margin expanded to 13.4%, up from 12% in the second quarter of 2025 and 11.5% in Q2 of 2024 prior to the launch of Project 360, our cost transformation. Our top line performance reflects continued market share gains as well as ongoing execution of our densification strategy, driving a 32% year-over-year expansion of our location footprint, anchored by the acquisition of Joe Hudson's Collision Center alongside new location development. Importantly, this top line expansion was paired with strong margin gains. The 140 basis point year-over-year increase in adjusted EBITDA margin reflects the continued execution of Project 360 alongside accelerated synergy realization from the Joe Hudson's acquisition. As a result, we are raising our 2026 synergy target to $35 million, up from our previous estimate of $20 million. During the quarter, we successfully completed the system conversion across all joe hudson's locations this marks a critical integration milestone establishing a unified operating platform that will drive greater consistency productivity and margin expansion across the entire business while the conversion resulted in temporary sales disruption we have implemented target initiatives to strengthen throughput and local execution these actions are now gaining traction and driving revenue on a more profitable foundation. Turning to the broader operating environment, based on second quarter claims processing data, we estimate that repairable claims volumes were flat to down 2% year over year. This represents a meaningful improvement compared to the decline seen in Q2 of 2025 and points to the ongoing stabilization consistent with our long-term planning assumptions. Against this backdrop, we generated 2.9% same-store sales growth in the second quarter, with limited contribution from total cost of repair. This performance confirms continued market share gains, reflecting the strength of the company's insurer relationships, continued improvement in carrier performance, and the benefits of our 2025 regional incentive realignment. In July 2026, same-store sales remained positive in the low single digits, continuing to reflect the aforementioned market share gains. Monthly results can vary widely, consequently, and do not view any single month's performance as indicative of full quarters results. Our continued outperformance relative to the industry repair volumes reflects the strength of our strategy and execution. We remain focused on driving sustainable, profitable growth by improving capacity utilization, capturing local market share, and selectively expanding our footprint through disciplined acquisitions and new location development, all while driving profitability and cash flow. Given the highly fragmented nature of our industry, we see a significant runway to expand our market share, both organically and through disciplined M&A, while leveraging our network scale to drive further operational efficiencies. I will now pass the call over to Jeff who will provide a more detailed analysis of our second quarter results. Thanks Brian.

As highlighted we delivered strong second quarter performance marked by robust top-line growth, positive same-store sales, and strong margin expansion. Second quarter revenue increased 30% year-over-year to 1 billion and 13 million dollars. Growth was driven by $211 million in incremental contributions from 340 new locations not in operation for the full alongside 2.9% same-store sales growth as Boyd continued to outperform the broader industry. During the quarter Joe Hudson's locations contributed $175 million to total sales. Gross profit increased 31% year-over-year to $480 million representing a gross margin of 47.4% up 60 basis points compared to 46.8% in the second quarter of 2025. This margin expansion was driven by higher paint and parts margins supported by accelerated synergies and project 360 cost savings as well as increased scanning calibration and sublet margins. Turning to operating expenses for the second quarter of 2026 operating expenses of the percentage of sales improved to 33.9% compared to 34.8% in the prior year period. This 90 basis point improvement was driven by Project 360 and Joe Hudson's synergy realization. Adjusted EBITDA grew 45% to $135.9 million, outpacing revenue growth. Adjusted EBITDA margin expanded 140 basis points to 13.4%, up from 12% in the prior period. These gains were anchored by approximately 15 million dollars in combined Project 360 cost savings and Joe Hudson synergies realized during the quarter. Net earnings for the second quarter of 2026 were 1.3 million dollars compared to 5.4 million dollars in the same period of 2025. Net earnings were impacted by higher amortization and depreciation costs related to new location growth as well as higher financing costs. An adjustment was made in the quarter to revise the initial purchase price allocation, which negatively impacted amortization in the quarter in the amount of $5 million. Net earnings adjusted for this incremental intangible amortization would have resulted in net earnings of $6.4 million, up $1 million from the same period of 2025. Adjusted net earnings for the second quarter increased 47% year-over-year to $22.4 million and adjusted EPS increased to $0.80 from $0.71 in the same period of the prior year. For full year 2026, the company continues to expect maintenance capital expenditures to range between 1.6% and 1.8% of sales. Additionally, capital expenditures associated with the Joe Hudson's acquisition remain on track at an estimated $30 million, of which approximately $9.8 million has been invested through Q2 of 2026. Boyd's balance sheet remains strong, providing the financial flexibility to fund our future growth initiatives.

Robust earnings growth in the first half of the year, combined with our capital-like business model, drove an improvement in pro forma net leverage to approximately 2.8 times at quarter end, down from 3.1 times at the close of fiscal 2025. will now pass it back to Brian for closing remarks thank you Jeff to wrap up our second quarter performance underscores the strength of our operating model in our ability to deliver profitable high quality growth we are executing well in our strategic priorities successfully integrating Joe Hudson's and expanding our margins through project 360 and network synergies with a strong balance sheet in a clear runway in a highly fragmented market we remain well positioned to drive long-term value for our shareholders. With that, I would like to open the call to questions.

We will now begin the question and answer session. Please limit yourself to one question and one follow-up. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality.

If you are muted locally please remember to unmute your device please stand by while we compile the q a roster your first question comes from the line of stephen hansen with raymond james your line is now open please go ahead yeah good morning guys thanks for the time appreciate it um brian i wanted to focus on the margin expansion first it looked pretty pretty solid at 140 basis points you know some of that's coming from project 360 and faster than expected synergy realization but just trying to get level set on on how you think that that sort of journey is going um i know you've raised the

guidance for the year but i mean are you seeing more synergies where are they coming from specifically and how are you getting them faster ultimately is the question thank you yeah i so first of all i would say very pleased with the the progress around margins the you know the cadence that we've seen if you look back to q2 of last year 12 in q2 12 4 in q3 13 1 in q4 and then, you know, as we know, we seasonally kind of dip down in Q1 to 12.3, but then bounce right back up to 13.4. So we're seeing kind of this, you know, 40 basis point expansion on our journey back to the 14% kind of on a quarterly basis. So I expect that to continue. We, you know, as you know, the Project 360 benefits, you know, that we called for, you know, we called for them to be rattably distributed throughout the balance of the year. And I think the result is evidence of that. As it relates to the synergies, I think, you know, we'll talk, I'm sure we'll talk more about Joe Hudson, but the, you know, the pull forward of synergies really has to do with the timing of the pacing of the integration. We were able to integrate Joe Hudson more quickly. I think operationally that was the right thing for us to do. We needed to get visibility into the operations more deeply than we were able to on their system. So getting them on our systems platform, being able to accelerate the back office synergies much more aggressively put us in a position where, you know, we were able to call up the synergy expectation and at the same time, you know, continue to achieve really strong margins in the quarter.

Very helpful. And just quickly on the July outlook, you're referencing Losingal on the July mark. I know you don't like to extrapolate a single month, but I mean, how are you viewing the recovery in claims environment and on top of that, your ability to continue to take share? Thanks.

Yeah, look, the recovery on the claims environment remains, you know, we're happy that it's kind of stabilized in that zero to two percent or zero to down two percent. That allows us to achieve our, you know, our long-term growth algorithm. As we've talked about in the release, I mean, we are still seeing limited price, which is, you know, really the only downside in the market right now. So I do believe that that stabilization is, you know, is here to stay. It's evidenced by the, you know, we had talked about last year the drivers of that being, you know, the heavy insurance premium inflation. As you know, insurance premium inflation at this point has almost turned to a deflationary category. We talked about the impact of total losses and that taking cars out of the, you know, the considerations that, you know, in our world, total losses are, you know, essentially flat on a year-on-year basis at this point. So as we see the things that we said were the drivers of the negative getting better, we continue to see the marketplace just being, you know, a much more stable environment for us to operate in.

Appreciate that. thanks steve the next question comes from the line of mark jordan with goldman sachs your line is now open please go ahead hey good morning and thank you very much for taking my question um yeah as we think about total cost repair how should we think about the second half of the year and you know is there any color you can provide on maybe the various components that that make up that measure uh be it the mix between parts and labor alternative parts usage etc yeah so i'll say i'll say a couple things on total cost of repair.

You know, relative to timing, I don't really have a point of view on the timing. I do think, you know, structurally, we'll talk in a second about the things that will drive it in the long term. In the short term, I think, you know, Steve, actually, Raymond James hosted a really nice call with Ryan Mandel that talked about, you know, what's happening in the near term. That focused really on a couple of things, higher total loss rates, you know, which, as I said earlier, are kind of moderating at this point, you know, a little bit of an increase in alternative part usage. And then, you know, in times where there's less work in the marketplace, you have a tendency to see technicians doing a lot more repair versus replace. You know, that repair versus replace can have a negative impact on the T-Core. I think more importantly than that is just the structural tailwinds that still remain behind If you look at the cost of repairing a vehicle that's zero to three years or newer, it's about $2,000 greater than the overall cost of a repair. So we're seeing now the cost of repairing a vehicle that's in that zero to three year category close to $6,000. If you think about the future of this business and you think about how that becomes the older part of the car park in the long run, or in the older part of the cars that we're actually repairing, you can see a place where the ticket is definitely going to continue to blend up as those cars become more of our repair set. So I, you know, I believe that there's still structural tailwinds in the marketplace. I think in the short term, we're controlling what we can control, which is, you know, taking market share in a market that's kind of in that zero to down 2%. And, you know, we'll continue to do that. And when price comes back, it'll be a nice overlay on top of where we're performing today.

Perfect. Thank you very much. And just wanted to follow up, if I could. But I think last quarter, you mentioned a bit of a headwind from makeshift to aftermarket parts, just given the older car park. You know, how does that play out over the coming years? Is that something that should kind of be diminished or, you know, the car park ages with those newer vehicles, as you were mentioning?

Yeah, I think it just laps, right? I mean, you get to a place where it's, you know, it's the similar things. I don't see it accelerating the usage of, I don't see the usage of aftermarket parts accelerating. I see it, you know, kind of us getting to a place where it stabilizes and then, you know, it doesn't become a headwind. It just becomes, you know, a muted impact. Great. Thank you very much.

Your next question comes from the line of Brett Jordan with Jeffries. Your line is now open. Please go ahead.

Longer term expectations on total loss rates. you know, sort of where do you see the upper boundary there, you know, sort of on a maybe five or 10-year basis?

Yeah, it's interesting when you think about some of the things that are happening around total loss rates. I think, you know, there was a CCC came out with something earlier in the quarter that talked about just the impact to the consumer on total losses. So I think, you know, and it's a very negative impact. And we know that, you know, from many perspectives, you know, having a total loss event is one of the worst customer experiences that, you know, a consumer will have. So they're, you know, the insurance carriers don't like total losses, the OEMs don't like total losses, and, you know, certainly we like to repair people's vehicles and get them back on the road safely. So I think my view is longer term, you can continue to believe that there might be some upward movement. I would say that I don't expect it to be, you know, I do not expect it to be, you know, a very large movement. I think we get more to a cadence where it's, you know, you know, you know, a very minimal. It's a very minimal number. I, you know, I would, you know, if I were to peg a number to it, I would expect, you know, something in the neighborhood of three tenths a year of movement, which really isn't, you know, really isn't a lot. And I do think, as I said, there's a lot of momentum to try to drive total losses down. You even saw some legislature passed in Rhode Island, as an example, where they're now mandating an 85% threshold for total losses versus the industry that kind of sits at a 70% today. So I think there's more momentum to move it down than there is to move it up. The aging car park might put us in a position where it will go up based on the car park age, but I think there's some other factors that are suppressing it as well.

And, Brian, I would just add that it's important to think about it in the context of the overall market size growth as well because it really is also important to understand how is it changing in relation to the total market size changing because even if the cost rate's increasing, there could still be more cars available to be repaired in that scenario.

Great. Thank you. And I guess, could you talk about regional performance? I mean, some of the densification benefits from the Joe Hudson's acquisition, you know, sort of what you're seeing in any sort of market outliers.

Yeah, I mean, we've talked before about, you know, we see continued strength in the north right now. Obviously, the south, with Joe Hudson, was going through a heavy amount of integration in the first and second quarter. So we don't see – I think most of what we're seeing in the north or a lot of what we're seeing in the north is weather-related activity that is probably putting it in a position where there's a little bit of outsized growth in the north. But beyond that, I would say that, you know, we see, you know, we see the same opportunity across all markets that we operate in. And the most important thing we can do is to continue to perform against our clients' metrics. And as we do that, we know that opens up more opportunities for us. And as we get more opportunities, that gives us the ability to then capture more work in the marketplace and take the share that we've talked about. So I think, you know, on balance, we still control a lot of, you know, we still control a lot of what's happening in the in the regional performance.

Great. I appreciate it. Thank you.

The next question comes from the line of Thomas Wendler with Stevens, Inc. Your line is now open. Please go ahead.

Hey, good morning, everyone. Solid quarter.

And thanks for taking my question. uh you guys kind of highlighted 13 new startups for the remainder of the year uh how should we be thinking about the uh acquisitions uh for the remainder of the year yeah i i wouldn't i wouldn't uh you know i would think of the acquisition similar to what we've seen historically we we have a tendency to start you know we have a tendency historically to start slow and finish strong um you know we see a nice robust pipeline of acquisitions that are out there i think you're going to see an increase in activity as we get into the second half of the year, which is typically what we have seen. You know, we have had a tendency to have a really strong fourth order as it relates to acquisitions. You know, some of that's just timing of when, you know, when the opportunities come to the marketplace and when they're there, we obviously take advantage of that. So I would I would say from an acquisition perspective, expect acceleration as we get into the back half of the year, no different than we've seen historically. And then, as you know, we're still working to get our NTI pipeline, you know, our new-to-industry pipeline in a position where there is some more stability. We had a couple of opportunities, you know, in the pipeline that actually pushed, some pushed out and some, you know, a couple of projects that we actually canceled because of the Joe Hudson acquisition. So that's why you saw a little bit of an erosion of what we were expecting in the third quarter. Some of those just came out of the pipeline because of the, you know, because they're, as we looked at the overlay of them with Joe Hudson, you know, it didn't make sense for us to keep that project going. But we would like to see that continue to get to a more normal kind of eight or so a quarter. And you can see that as we get into the fourth quarter, you know, we have, you know, 10 planned essentially for the 10 NTIs planned for the fourth quarter. And we'll layer on acquisitions on top of that.

Perfect. I appreciate the color. And then maybe one more for me. You'd mentioned capacity utilization is maybe an opportunity for the back half of the year. Can you maybe help us think about, you know, what utilization rates are right now and how the company's fixed costs are probably going to lever as we see a little bit better utilization?

Yeah, I mean, obviously the technician workforce is where we're really talking about capacity utilization. And, you know, we look at, we watch productivity. So we're watching, you know, kind of the hours per tech per week. You know, that's our barometer of how utilized the technician base is. We still see a little bit of upside in the ability to utilize the existing tech, but as you guys know, we're always out looking for additional techs to add to the workforce, and we'll continue to do so. But I do see a little bit of – we do have a little bit of capacity utilization still left to go. But as I said earlier, I mean, we're waiting on growth. And when we had those conversations historically, you know, we were in a situation where we were in declining – a declining environment. And as you look at our position today, as we said, we're really winning on volume. And if you look at that 2.9% that we reported against the, you know, call it the down two that we were, you know, a year ago, that's really about a 5% shift, you know, in our, or 5% swing in our same store sales, which is, which is really eating up a chunk of that capacity utilization.

All right. Thank you for all the color.

Your next question comes from the line of Sabahat Khan with RBC Capital Markets. Your line is now open. Please go ahead.

Thanks and good morning. Maybe if we can get some color on some of the commentary around the market share gains. I think the algal run rate is, you know, X percent industry growth, and then you guys capture some share on top of that. Maybe if you can comment on sort of year to date and just the outlook. Is it market share broadly, nationally speaking? Is it the more densified regions? Maybe if you can just share some thoughts on where typically you're able to capture share above the market growth expense.

Yeah, well, as we talked about before, I mean, market share gains in our world come with, you know, come with outperforming our competitive set. And we continue, you know, as you know, we did the, you know, the regional incentive alignment where we aligned our, we deliberately aligned our field leadership's compensation to the performance of their top three clients. And when we did that, we saw, you know, a nice, we saw a really good movement in our client performance. And when that happens, it gives us the ability to see more opportunities. So I would say that there's not a, you know, because of the way that we're, you know, we're rolling that out, it's, there's not a regional difference, so to speak, it's really more broad based. And, you know, as we continue to execute on our on those initiatives, we continue to see more opportunities coming into the funnel. And, you know, then our opportunity, then our obligation, then is to make sure that we're capturing as many of those as we possibly can into our stores. So I think it was very deliberate actions to continue to drive market share gains, and I think those deliberate actions are really taking hold as we get into this quarter and the balance of the year.

Great. And then just for my follow-up, maybe if you can share a bit more color on the synergies related to Joe Hudson. sort of like what's been done it sounds like the branding is done maybe you can talk about on the operation side supply chain are you starting to see the benefits of increased scale and volumes from your suppliers maybe if you can just talk about what's done um what's left and any sort of evolution on the opportunity with the synergies or just areas of opportunity versus your initial take on job thanks yeah well well i mean the timing is you know we we essentially have done the systems conversion we've done the the rebranding of the locations we've moved a good chunk of the back office when we switch over the when we switch over the systems it essentially is

moving moving much of the supply chain to a common contract so we are seeing the supply chain benefits we have done the internalization of scanning and calibration so i think a lot of the things that we were expecting, you know, that had a little bit of a longer tail and were more, you know, were more predicated off of our ability to pace the integration or pace the systems conversion have been done in an accelerated fashion, which has given us the ability and the confidence to increase our outcome, you know, by about $15 million. So, you know, I think there isn't really a lot left to do, you know, from an integration perspective. Much of the back office has swung, you know, into our systems at this point. So we're very pleased with where we're at in the integration. We're happy that we made the decision to accelerate faster. It was a little bit painful for the organization to do that, but it but it's given us now the ability the ability to apply our operating model on top of joe hudson's and in leverage that new 258 locations the same way we you know operate our existing stores thanks very much the next question comes from derek lassard with td cowan your line is now open please go ahead yeah yeah thanks and good morning everybody again congrats on a solid operating performance.

You guys have done a really good job at parsing out the cost synergies. Just wondering if maybe you could lift a hood on potential revenue synergies, maybe around the customer service best practices, leveraging your insurance partnerships. Anything you could add on that side would be appreciated.

Yeah, well, I think there's revenue synergy on both sides. Historically, we've talked about some of the relationships that Joe Hudson had that we hadn't had as good a relationship with. We've obviously got, you know, a great relationship with many of our insurance carriers. So I think there's combinations where the relationships on both sides will be helpful. We've retained, you know, we've retained the sales team from Joe Hudson to make sure that we, you know, we leverage those two things. I think the most important thing that you're going to see in terms of revenue synergies is our focus on client performance. And as we continue to drive that into the Joe Hudson environment, you're going to continue to see benefits associated with that client performance improvement. And that is, we have a maniacal focus and have all of the information we need in order to make sure our stores know how to win with the customer and making sure that, and when we've talked about this, It's really not just the three things, you know, having a lower average cost of repair, having good NPS, and having lower length of rental. Those are really just the ticket to the dance. Making sure that, you know, beyond that, you know how to win with the, you know, with some of the finer points with each of our customers is really what carries the day. and i think we have a much better model and have much better training modules to make sure that our stores understand how to win and i think you'll see a lot you'll you will see in the future revenue synergy associated with that thanks for the color brian congrats again yeah thank you the next question comes from razi hassan with paradigm capital your line is now open please go Yeah.

And thanks for taking my questions. Just maybe on the initialization of scanning and calibration, I believe you had a target of 80%. Can you just remind us where you are now and if that 80% is the high watermark, or do you think you can go higher than that? Thanks.

Yeah. I mean, we achieved the 80% last quarter, so we announced that last quarter. We're, you know, we're between 80% and 85% right now. There's a point at which, there is a point at which, you know, utilization is so high that you start to sacrifice productivity. So we think that's still, you know, we think that the 80% to 85% is a comfortable place for us to be where you're not overstaffing the field so that you have so much availability that you have an unproductive workforce. So, you know, we're happy with where we're at. We've got good secondary relationships in place that allow us to fill the balance of that, you know, that need. And, you know, again, I think we're very pleased with the progress that we've made on the internalization. You can see that in our gross margins, you know, at a 47.4, it's one of the highest gross margins we've seen in the history of the company. So it is a key lever to driving that.

And while we've got the right number of utilization in the right range right now, I mean, this is a business that continues to grow. The service, there's more needs for this type of service, which means we do continue to add team members, and this will continue to expand, but utilization is at the right range.

Yeah, that's a great point. I mean, as the penetration of calibration services continues to grow, you know, we need to continue to grow that workforce on top of that. So it isn't like it's get to the 80% and now we're done. It's, you know, now we've got to keep up with the pace of the changing car park.

Okay, great. That's really helpful. And maybe just one follow-up, just in regards to, you know, past cycles where you've had to cycle through, you know, elevated inflation and, you know, car prices rising and dropping. You know, where we are now, can you maybe talk about the time lag that you typically see when insurance premiums start to moderate and car prices start rising and the flow through to repair volumes? Is that, you know, like a year typically when consumers come back to the repair shop or maybe any color on that would be helpful?

Yeah, I think on the insurance premium side, what we're really looking for is, you know, one, the premiums need to, you know, need to become less of an issue. But in some cases, what we're really looking for is for people to better prepare. We're looking for them to better position themselves with the insurance product that they have. What you see when, you know, you get into times of high premium inflation is you see people raising deductibles. You see people, you know, that are dropping certain coverages. And that's why, as we've articulated historically, you tend to see liability claims stay relatively stable. What falters is the collision claim, which is the first party in the accident. So what we're looking for are signs of, you know, deductibles coming back, you know, down. And, you know, we're also looking for, you know, people to add insurance coverages. So the other thing that's interesting is one of the other potential benefits for us in the longer term is you are starting to see, because new car prices are becoming so expensive, you're starting to see people elongate the loans. so now you're seeing loans up to 84 months you know when someone's in a car loan they have no choice but to keep all of the coverages on their vehicle so i think that is a it's a bit of a structural tailwind for us as it relates to the claim side because we will see people that have to do that um you know so i think you know from that perspective we see you know we see you know that probably taking a little bit more time but you are seeing at this point you're seeing you you know, the down zero, the zero to down two, which is really, you know, well within the range that we expect it to be. On the flip side, when you think about used car pricing, that's a mathematical equation. So as used car prices, if used car prices continue to rise, you'll see total losses continue to come down. It's not, there's not much time lag between those two. And as you've seen, used car prices moderate. I wouldn't say they're kind of positive or negative at this point, they kind of hover around zero. But when you look at that, you're starting to see you're definitely seeing a moderation in a stabilization of the total loss rates that we're experiencing today. That's very helpful. Thanks for your time. Yep.

The next question comes from Zachary Evershed with National Bank of Canada. Your line is now open.

Please go ahead. good morning everyone congrats on the quarter um so you mentioned earlier that some of the revenue synergies would come from better relationships that joe hudson had and better relationships that you had progressive captured a whole whack of the insurance industry premium growth in 2025 how are things going on breaking open that relationship yeah we continue we continue to work on that relationship there's there's nothing fractured in the relationship it's a it's a function of you know them having a need and when they have a need we want to make sure that we're performing in a way that that makes us their first you know their first choice to come to

so um there's i there's you know right now our our pacing with that particular client is is pretty much on par with their growth um so we're not seeing uh in joe hudson just geographically joe hudson had a much better relationship because you know when you look at their presence in certain markets like in Alabama as an example. You know, Joe Hudson's was the service provider in Alabama that gives them the option to really go deeper with, you know, insurance clients and, you know, but we continue to work that relationship and, you know, and the good news is, you know, as it continues to, you know, as that continues to grow, it becomes, you know, a little bit of a tailwind for us.

Great color. Thanks. And then for my follow-up, Insurify is flagging that insurance premiums are rising in just over half of states now. Any immediate concerns on that front over potential impacts to claim counts, or is it still looking pretty stable?

No, I don't have any concerns. I think your insurance premiums are, when you look at insurance premiums, when they're rising in the low single digits or at CPI levels, I don't think that's, you know, that's what consumers generally expect. What we don't expect is to have periods of time where they're rising at 17 to 20%, and that's really what puts some strain on the industry. I also think that what's not reflected in what you're seeing in Insurify is what's happening with the rebates. Many of the insurance carriers are rebating dollars back, you know, to customers.

That doesn't get captured necessarily in the the data that you're looking at gotcha thanks i'll turn it over yep the next question comes from jonathan goldman with scotia bank your line is now open please go ahead hey good morning team and thanks for taking my questions uh brian can you help us parse out the cadence of same store sales for the quarter and maybe the june exit rate just trying to piece all the items together i think on the last call you talked about x weather q1 would have been 2.6 april was approaching the low end of the range and you finished the quarter at 2.9 yeah i i mean we won't we won't speak to the the cadence because as we've said before i mean

one month does not make a trend in this business um and we're really trying to move away from from this notion of kind of the monthly cadence. I mean, I think unintentionally we've created an environment right now where, you know, 3% becomes a pass-fail on our success of the business. And it's really not, you know, as I said before, when you look at the cadence of where we've been in the 3% to 5% range, it's been 84% of the time we've, you know, been outside of that range, a chunk of time above, a chunk of time below. So I'm not really going to comment on the cadence of the quarter. I think what's most important right now is the underlying environment is now stabilized in a position where our share gains are ultimately manifesting themselves as same store sales. We see that positive. We've now seen four quarters in a row of positive same store sales growth. And, you know, we still have, you know, we're still seeing limited, you know, benefit from the average cost of a repair, which has really historically been in that 4% range. So as we look to the industry to get back to that 4% range, we see that as a nice tailwind for us. We'll continue to focus on controlling the things that we control in the short term. And I think that's, as we've said, that's really what's propping up the same store sales as we sit here today. And I would expect that there's nothing, that is the one thing that we can control. So I'd expect that to continue.

Okay, fair enough. Was there anything in the quarter that you would classify as one time or a headwind, particularly on a year over year basis in terms of capturing same store sales volume?

No, not particularly. I mean, this is the type But this is the time of year that you tend to see, you know, there are weather events that drive, you know, drive positives and negatives. And, you know, which is, again, why we don't try to get ourselves pinned to a, you know, we talk about a long range number, not something that's, you know, quarter to quarter for one week a month. But so far what we've seen from, you know, particularly around hail, the number of hail events, the type of hail volume that we're experiencing on a year over year basis has been relatively stable. relatively flat um you know and that's really what can in the summer months that certainly is something that can move same store sales positive or negative um depending upon the impact you're on okay if i can just squeeze one more and brian do you have a view on what is the potential upper bound of the age of the car park i think we're currently sitting at 13 years maybe a bit higher for passenger a bit lower for light vehicle trucks um no i mean the when you say the

upper bound you mean the upper bound of vehicles that we would work on or the upper bound of the eight of the car park the fleet age totally in the US well I think we've got you know I think as has been reported there's there's sort of been a bit of a bubble of a lack of new cars coming out of the pandemic and that's to me that's one of the main drivers that's causing this this little shift right now in terms of aging aging vehicles because there's a there's a gap but over time that that bubble is going to likely move through and and then ultimately will probably limit and even reduce the age of the car park i think it over you know some period of years

here okay i'll get back thank you there are no further questions at this time i will now turn the call back to mr brian kaner for closing remarks thank you operator and thank you all once again for joining our call today as we look forward to reporting our third quarter results in November. Thanks again and have a great day.

This concludes today's call. Thank you for attending. You may now disconnect.