Driven Brands Q3 net loss $15M, adj EBITDA up 14%; reaffirms FY24 outlook

Driven Brands Holdings Inc.

2024-Q3 EPS reported $0.12 revenue$1,775,471,000

Revenue $592M (+2% YoY); same-store sales +1.1% (15th consecutive quarter).
Net loss $14.9M ($0.09/diluted) vs prior-year net loss $799.3M; adjusted net income $41.8M ($0.26/diluted).
Adjusted EBITDA $138.8M, up 14%; segment: Maintenance $96.7M, Car Wash $25.6M, Paint/Collision/Glass $34.7M, Platform Services $22.5M.
Take 5 Oil Change revenue +15%, same-store sales +5%; net new units 56.
FY24 outlook reaffirmed: revenue $2.33-2.43B, Adj EBITDA $529-559M, Adj EPS $0.88-1.00; net leverage target 4.5x achieved ahead of schedule.

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