secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001193125-24-128254
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/0001193125-24-128254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000119312524128254/d786209d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-128254

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