8-K
filed February 22, 2023, 6:59 PM ET
ticker DRVN
CIK 0001804745
earnings
confidence high
sentiment positive
materiality 0.80
Driven Brands FY2022 revenue $2.0B (+39% YoY); guides FY2023 Adj. EBITDA ~$590M
Driven Brands Holdings Inc.
2022-FY EPS reported
$0.25
revenue$2,033,194,000
- FY2022 revenue $2.0B (+39% YoY); net income $43.2M ($0.25 diluted EPS) vs $9.6M prior year.
- Adjusted Net Income $207.9M ($1.22 diluted EPS), up 41%; Adjusted EBITDA $513.8M, up 42%.
- Q4 revenue $539.7M (+38% YoY); Q4 Adj. EBITDA $130.5M (+54%); same-store sales +11%.
- FY2023 guidance: revenue ~$2.35B, Adj. EBITDA ~$590M, Adj. EPS ~$1.21, same-store sales growth 5-7%.
- Car Wash segment same-store sales declined 3.9% in FY2022 and 10.1% in Q4 due to FX headwinds.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Driven Brands Holdings Inc. reported the fiscal year ended December 31, 2022 results: revenue $2.0 billion, net income $43.2 million, EPS $0.25 per diluted share. Guidance initiated.
- Period
- the fiscal year ended December 31, 2022
- Revenue
- $2.0 billion
- Net income
- $43.2 million
- EPS
- $0.25 per diluted share
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
For the fiscal year, Driven Brands delivered revenue of $2.0 billion, up 39 percent versus the prior year. System-wide sales were $5.6 billion, up 24 percent versus the prior year with 14 percent same-store sales growth and 9 percent net store growth. Net income increased $33.6 million versus the prior year to $43.2 million or $0.25 per diluted share inclusive of a $125.5 million one-time non-cash impairment charge related to intangible assets in the second quarter as a result of the Company’s decision to re-brand its U.S. car wash business.
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Driven Brands Holdings Inc. reported the fourth quarter ended December 31, 2022 results: revenue $539.7 million, net income $27.4 million, EPS $0.16 per diluted share. Guidance initiated.
- Period
- the fourth quarter ended December 31, 2022
- Revenue
- $539.7 million
- Net income
- $27.4 million
- EPS
- $0.16 per diluted share
- Guidance
- initiated
- Result
- reported results
Exact text from the filing
For the fourth quarter, Driven Brands delivered revenue of $539.7 million, up 38 percent versus the prior year. System-wide sales were $1.5 billion, up 24 percent versus the prior year with 11 percent same-store sales growth and 9 percent net store growth. Net income increased $66.2 million versus the prior year to $27.4 million or $0.16 per diluted share.
View on SEC.gov
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