earnings
confidence high
sentiment positive
materiality 0.80
Driven Brands Q3 revenue up 39% to $516.6M; raises FY guidance on strong same-store sales
Driven Brands Holdings Inc.
2022-Q3 EPS reported
$0.09
revenue$1,493,541,000
- Revenue $516.6M (+39% YoY); system-wide sales $1.5B (+22%). Net income $38.4M ($0.23 diluted EPS); adjusted EPS $0.32.
- Consolidated same-store sales +11.9%; Maintenance +14.4%, Paint/Collision/Glass +15.7%, Car Wash -9.0% (FX impact -560bps).
- Adjusted EBITDA $129.4M (+32%); FY2022 guidance raised: revenue ~$2.0B, adjusted EBITDA ~$503M, adjusted EPS ~$1.21.
- Closed $365M whole business securitization post-quarter for general corporate purposes and to repay revolver.
- Added 101 net new stores in Q3; full-year net store growth expected ~370 stores.