secwatch.observer — SEC 8-K summary
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Issuer:     Driven Brands Holdings Inc. (DRVN)
CIK:        0001804745
Form:       8-K
Filed at:   2024-10-31T23:59:59+00:00
Accession:  0001804745-24-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1804745/000180474524000023/0001804745-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1804745/000180474524000023/drvn-20241031.htm
  HTML page:      https://secwatch.observer/filing/0001804745-24-000023

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