---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-133100"
form_type: "8-K"
ticker: "DRVN"
cik: "0001804745"
company_name: "Driven Brands Holdings Inc."
filed_at: "2023-05-03T23:59:59+00:00"
generated_at: "2026-06-16T01:27:12.972580+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Driven Brands Q1 revenue up 20% to $562.5M, reaffirms FY2023 guidance

## Summary
- Revenue $562.5M (+20% YoY); system-wide sales $1.5B (+19%); same-store sales +9%.
- Net income $29.7M (-14% YoY), $0.17 diluted EPS; adjusted net income $42.3M (-11%), $0.25 adj EPS.
- Adjusted EBITDA $127.8M (+8% YoY); Car Wash SSS -11.3%, Maintenance +12.6%, Paint/Collision +14.1%.
- Added 59 net new stores (7% growth); total store count 4,864.
- FY2023 guidance reaffirmed: revenue ~$2.35B, adj EBITDA ~$590M, adj EPS ~$1.21.

## SEC filing metadata
- accession: 0001193125-23-133100
- form_type: 8-K
- ticker: DRVN
- cik: 0001804745
- company_name: Driven Brands Holdings Inc.
- filed_at: 2023-05-03T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804745/000119312523133100/0001193125-23-133100-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804745/000119312523133100/d272537d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-133100
- JSON: https://secwatch.observer/filing/0001193125-23-133100.json
- Plain text: https://secwatch.observer/filing/0001193125-23-133100.txt

## Key facts
- Earnings Releases
  Driven Brands Holdings Inc. reported first quarter ended April 1, 2023 results: revenue $562.5 million, net income $29.7 million, EPS $0.17. Guidance reaffirmed.
  - Period: first quarter ended April 1, 2023
  - Revenue: $562.5 million
  - Net income: $29.7 million
  - EPS: $0.17
  - Guidance: reaffirmed
  - Result: reported results
  source text: Driven Brands Holdings Inc. Reports Strong First Quarter Results • Revenue increased 20 percent powered by 9 percent same-store sales growth and 7 percent net store growth • Reaffirms fiscal 2023 guidance, reflecting continued market shares gains and resilient needs-based category Charlotte, N.C. (May 3, 2023) - Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) today reported financial results for the first quarter ended April 1, 2023. For the first quarter, Driven Brands delivered revenue of $562.5 million, up 20 percent versus the prior year. System-wide sales were $1.5 billion, up 19 percent versus the prior year driven by 9 percent same-store sales growth and 7 percent net store growth. Net Income decreased 14 percent versus the prior year to $29.7 million or $0.17 per diluted share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312523133100/0001193125-23-133100-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.