Driven Brands Holdings Inc

DRVN

Equity

ISIN US26210V1026 / Valor 59101395

NASDAQ (2024-09-18)

USD 14.28-1.52%

Driven Brands Holdings Inc
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About company

Driven Brands Holdings Inc is a global leader in the automotive industry, offering a wide range of consumer and commercial services including car wash, vehicle repair, oil change, maintenance, and more. With well-known brands like IMO Car Wash, ABRA Auto Body Repair of America, Uniban, Take 5 Car Wash, and PH Vitres d’Autos under its umbrella, Driven Brands provides top-notch automotive solutions to customers in various regions around the world. Additionally, the company's charitable foundation works towards raising awareness and funds for issues affecting the communities it serves.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Revenue Growth

Driven Brands Holdings Inc. reported revenue of $612 million for the second quarter of 2024, marking a 1% increase compared to the same period in the previous year. This growth was primarily driven by a 0.5% increase in same-store sales and the addition of 115 net new units.

Net Income

For the second quarter of 2024, Driven Brands Holdings Inc. achieved a net income of $30.2 million, or $0.18 per diluted share. This is a decrease from the $37.7 million, or $0.22 per diluted share, reported in the same quarter of the previous year.

Adjusted EBITDA

Driven Brands Holdings Inc. reported an adjusted EBITDA of $152.2 million for the second quarter of 2024, reflecting a 4% increase compared to the same period in the prior year. This growth underscores the company's continued operational efficiency and profitability.

Segment Performance

In the second quarter of 2024, Driven Brands Holdings Inc.'s Take 5 Oil Change segment led the performance with a 19% year-over-year unit growth and a 6% same-store sales growth. The Maintenance segment also showed strong results with a 4.3% same-store sales increase and $277.9 million in revenue.

Fiscal Year 2024 Outlook

Driven Brands Holdings Inc. updated its financial outlook for fiscal year 2024, expecting revenue to be at the low end of the $2.35 - $2.45 billion range. The company anticipates adjusted EBITDA to be in the mid-to-high end of the $535 - $565 million range and adjusted EPS to be at the high end of the $0.88 - $1.00 range.

Summarized from source with an LLMView Source

Key figures

6.73%1Y

-52.0%3Y

%5Y

Performance

45.7%1Y

49.6%3Y

48.3%5Y

Volatility