secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2023-08-02T23:59:59+00:00
Accession:  0001193125-23-201170
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Driven Brands Q2 revenue up 19% to $607M; cuts full-year guidance due to Car Wash & glass headwinds
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- Revenue $606.9M (+19% YoY); same-store sales +8%; added 74 net new stores.
- Net income $37.7M vs loss $57M prior year; adjusted net income $49.1M (-18%).
- Adjusted EBITDA $151M (+12%); cash from operations $114.6M YTD vs $75.4M prior.
- Full-year guidance cut: revenue $2.30B (was $2.35B), Adj EBITDA $535M (was $590M), Adj EPS $0.92 (was $1.21).
- Car Wash same-store sales -4%; softer consumer demand; U.S. glass impacted by integration delays.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000119312523201170/0001193125-23-201170-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000119312523201170/d414568d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-201170

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