{"schema_version":"secwatch.filing_event.v1","accession":"0001193125-23-267747","form_type":"8-K","ticker":"DRVN","cik":"0001804745","company_name":"Driven Brands Holdings Inc.","filed_at":"2023-11-01T23:59:59+00:00","discovered_at":"2026-05-14T18:03:30.540948+00:00","generated_at":"2026-06-09T03:04:26.337882+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Driven Brands reports Q3 net loss of $799M on $851M goodwill impairment; revenue up 12%","bullets":["Revenue $581M (+12% YoY), system-wide sales $1.6B (+10%), same-store sales +6%, net store growth 6% (55 new stores).","Net loss $799.3M ($4.83/share) driven by $851M non-cash goodwill impairment in Car Wash and $111M asset impairment charges.","Adjusted net income $33.7M (-39% YoY), adjusted EPS $0.20, adjusted EBITDA $127.2M (-2% YoY).","Pausing capital investment in US Car Wash due to weak demand and competition; prioritizing debt paydown with free cash flow.","Reaffirms FY2023 outlook: revenue ~$2.30B, adjusted EBITDA ~$535M, adjusted EPS ~$0.92."],"urls":{"canonical":"https://secwatch.observer/filing/0001193125-23-267747","json":"https://secwatch.observer/filing/0001193125-23-267747.json","markdown":"https://secwatch.observer/filing/0001193125-23-267747.md","text":"https://secwatch.observer/filing/0001193125-23-267747.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1804745/000119312523267747/0001193125-23-267747-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1804745/000119312523267747/d904024d8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-09T03:04:26.337882+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"35c52c7c605eb599e2b6135ff8f97e45946d8acb","claim":"Driven Brands Holdings Inc. reported the third quarter ended September 30, 2023 results: revenue $581.0 million, net income Net Loss of $799.3 million or a Net Loss of $4.83 per diluted share. Guidance reaffirmed.","evidence_excerpt":"(“Driven Brands” or the “Company”) today reported financial results for the third quarter ended September 30, 2023. For the third quarter, Driven Brands delivered revenue of $581.0 million, up 12 percent versus the prior year. System-wide sales were $1.6 billion, up 10 percent versus the prior year driven by 6 percent same-store sales growth and 6 percent net store","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1804745/000119312523267747/0001193125-23-267747-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the third quarter ended September 30, 2023"},{"label":"Revenue","value":"$581.0 million"},{"label":"Net income","value":"Net Loss of $799.3 million or a Net Loss of $4.83 per diluted share"},{"label":"Guidance","value":"reaffirmed"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}