secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2024-02-22T23:59:59+00:00
Accession:  0001193125-24-042099
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Driven Brands FY23 Revenue Up 13% to $2.3B; Net Loss $745M on Car Wash Impairment
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- FY23 revenue $2.3B (+13%); system-wide sales $6.3B (+12%); 7% same-store sales growth; 183 net new stores.
- Net loss $745.0M ($4.53 loss per share) vs prior year net income $43.2M; includes $851M non-cash goodwill impairment in Car Wash.
- Adjusted EBITDA $535.1M (+4%); Adjusted EPS $0.93 (-24%); cash from ops $235.2M (+19%).
- Q4 revenue $553.7M (+3%); net loss $13.1M; Adjusted EBITDA $129.0M (-1%); same-store sales +4%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000119312524042099/0001193125-24-042099-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000119312524042099/d783391d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-042099

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