---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-24-128254"
form_type: "8-K"
ticker: "DRVN"
cik: "0001804745"
company_name: "Driven Brands Holdings Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:48:18.388357+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Driven Brands Q1 net income $4.3M ($0.03 EPS); adj EBITDA $131M (+6%); CFO Ferrera resigns

## Summary
- Revenue $572M (+2% YoY), system-wide sales $1.6B (+7%), 0.7% same-store sales growth, 13th consecutive quarter of SSS growth.
- Net income $4.3M ($0.03 diluted EPS) vs $29.7M ($0.17) prior year; adjusted net income $38.1M ($0.23 adj EPS) flat YoY.
- Maintenance segment SSS +4.8% driven by Take 5 Oil Change +7%; Car Wash SSS -7.4%.
- CFO Gary Ferrera resigns effective after Q1 10-Q filing; Joel Arnao interim CFO, Michael Beland principal financial officer.
- Reaffirms FY2024 outlook: revenue ~$2.35-2.45B, adj EBITDA ~$535-565M, adj EPS $0.88-1.00.

## SEC filing metadata
- accession: 0001193125-24-128254
- form_type: 8-K
- ticker: DRVN
- cik: 0001804745
- company_name: Driven Brands Holdings Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/d786209d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-24-128254
- JSON: https://secwatch.observer/filing/0001193125-24-128254.json
- Plain text: https://secwatch.observer/filing/0001193125-24-128254.txt

## Key facts
- Earnings Releases
  Driven Brands Holdings Inc. reported the first quarter ending March 30, 2024 results: revenue $572 million, net income $4.3 million or $0.03 per diluted share, EPS $0.03 per diluted share. Guidance reaffirmed.
  - Period: the first quarter ending March 30, 2024
  - Revenue: $572 million
  - Net income: $4.3 million or $0.03 per diluted share
  - EPS: $0.03 per diluted share
  - Guidance: reaffirmed
  - Result: reported results
  source text: DRVN) (“Driven Brands” or the “Company”) today reported financial results for the first quarter ending March 30, 2024. For the first quarter, Driven Brands delivered revenue of $572 million, up 2% versus the prior year. System-wide sales were $1.6 billion, up 7% versus the prior year primarily driven by 0.7% same store sales growth and 144 net new units. Net Income
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm
- Executive change
  Joel Arnao was appointed as interim Chief Financial Officer at Driven Brands Holdings Inc..
  - Action: appointed
  - Role: interim Chief Financial Officer
  source text: and has appointed Joel Arnao, the Company’s current Senior Vice President, FP&A, Treasury, and Investor Relations, as the Company’s interim Chief Financial Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm
- Executive change
  Gary W. Ferrera resigned as Executive Vice President and Chief Financial Officer at Driven Brands Holdings Inc..
  - Action: resigned
  - Role: Executive Vice President and Chief Financial Officer
  source text: On April 26, 2024, Gary W. Ferrera, the Company’s Executive Vice President and Chief Financial Officer, notified the Company of his intent to resign from the Company to pursue a professional opportunity at a privately held company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm
- Executive change
  Michael Beland changed role as principal financial officer at Driven Brands Holdings Inc..
  - Action: designated
  - Role: principal financial officer
  source text: the Board of Directors of the Company has designated Michael Beland, the Company’s current Senior Vice President and Chief Accounting Officer, as the Company’s principal financial officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm

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