---
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"
generated_at: "2026-06-09T03:04:26.337882+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Driven Brands reports Q3 net loss of $799M on $851M goodwill impairment; revenue up 12%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-267747
- JSON: https://secwatch.observer/filing/0001193125-23-267747.json
- Plain text: https://secwatch.observer/filing/0001193125-23-267747.txt

## Key facts
- Earnings Releases
  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.
  - Period: the third quarter ended September 30, 2023
  - Revenue: $581.0 million
  - Net income: Net Loss of $799.3 million or a Net Loss of $4.83 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: (“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_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312523267747/0001193125-23-267747-index.htm

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