secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2026-11-03T13:08:28+00:00
Accession:  0001628280-26-069090
Event type: other_material
Sentiment:  negative
Materiality: 0.90
Item codes: 2.02, 4.02, 9.01
LLM model:  deepseek-v4.1-flash:cloud@v2

Driven Brands to restate FY2023-2025 results on fixed-asset errors; cuts FY26 EBITDA guide to $410-430M
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- Audit Committee concluded Oct 31, 2026 that FY2023, FY2024, FY2025 and quarterly results through Q2 2026 contain material errors; PwC's audit report can no longer be relied upon.
- Errors tied to fixed assets: failure to timely write off sale-leaseback assets, misclassification and incorrect useful lives; CFO Mike Diamond says Adjusted EBITDA impact is negligible to date.
- Q3 Form 10-Q will miss the Nov 5, 2026 deadline; Form 12b-25 due by Nov 6, Q3 earnings call delayed, and share repurchases suspended until reporting is current.
- Preliminary Q3: system same-store sales +2.0%, Take 5 +4.9% (25th straight quarter of growth), Franchise Brands +0.5%, Auto Glass Now +6.5%; Take 5 net units +27, Franchise -34.
- FY26 Adjusted EBITDA cut to $410-430M from $430-460M; adjusted EPS $1.10-1.20 from $1.15-1.25; restatement costs now at least $50M vs prior $35-45M range.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000162828026069090/0001628280-26-069090-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000162828026069090/drvn-20261103.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-069090

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