Driven Brands Holdings

Driven Brands Holdings, Inc. provides automotive services. It provides consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. The company was founded in 1972 and is headquartered in Charlotte, NC.

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Driven Brands achieves record 2022 performance, eyes strategic growth

Driven Brands delivered strong financial performance in 2022, with a focus on strategic growth initiatives and operational efficiency.
The company faces challenges in specific segments but remains optimistic about long-term prospects and profitability.
Opportunities lie in revenue growth, unit expansion, and profitability optimization through strategic initiatives and operational enhancements.
Overall, Driven Brands' performance, strengths, and opportunities position it well for continued growth and success in the future.

Driven Brands reports robust Q1 growth, eyes sustainable expansion

Driven Brands delivered strong Q1 results with a focus on sustainable growth and leveraging network benefits.
While facing challenges in certain segments, the company remains confident in its long-term growth prospects.
Opportunities lie in expanding key brands and improving commercial mix, supported by a strong pipeline.
Overall, Driven Brands is on track to meet its fiscal 2023 guidance, expecting solid revenue and earnings performance.

Driven Brands reports strong Q2 earnings, focuses on long-term growth

Driven Brands' Q2 2023 performance showcased revenue and EBITDA growth, despite challenges in the Car Wash and Glass segments. The company remains focused on long-term strategies and cost efficiencies to drive future growth.

Driven Brands achieves 12% revenue growth, focuses on margin improvement

Driven Brands reported solid revenue growth in Q3, with a focus on operational improvements and margin enhancement. Challenges include margin pressure in the Car Wash segment and underperformance in the U.S. Glass business. The company reaffirmed its full-year outlook for 2023, emphasizing disciplined growth and cash flow generation.

Driven Brands reports strong 13% revenue growth in 2023

Driven Brands delivered strong performance in Fiscal 2023, with notable achievements in revenue growth and EPS. The company faces challenges from weather impacts and franchise sales declines.
Despite headwinds, Driven Brands remains focused on reducing debt, improving margins, and pursuing growth opportunities in 2024. The company's strategic initiatives aim to enhance financial health and drive expansion.
Overall, Driven Brands' focus on financial discipline, active portfolio management, and customer-centric strategies position it for growth and resilience in the competitive market landscape.
Investors should monitor Driven Brands' progress in reducing debt, expanding internationally, and optimizing its business segments to capitalize on growth opportunities and enhance shareholder value.

Driven Brands reports resilient Q1 performance, eyes growth opportunities

Driven Brands showcased steady financial performance in Q1 2024, with a focus on needs-based businesses and debt reduction.
Strong performance in Take 5 Oil Change and Driven Advantage platform adoption highlight growth potential.
Challenges in the Car Wash segment were offset by positive international trends and a focus on value and membership.
Opportunities lie in continued debt reduction, sustained Car Wash profitability, and future revenue streams in Auto Glass Now.

Driven Brands Holdings reports solid Q2 performance amidst growth challenges

Driven Brands Holdings (DRVN) delivered a solid Q2 2024 performance, driven by revenue growth, operational efficiency, and strategic segment contributions.
While facing challenges in specific market segments and debt reduction targets, the company remains focused on financial health, liquidity improvement, and long-term growth opportunities.
Opportunities for growth exist through segment performance enhancements, membership business expansion, and strategic investments, underlining a balanced approach to driving future success.

Driven Brands reports solid Q3 performance amidst weather challenges

Driven Brands delivered a resilient performance in Q3 2024, showcasing growth in revenue, store count, and core segments despite weather challenges.
Strategic initiatives to reduce debt, divest non-core businesses, and focus on franchise operations position the company for long-term financial stability and growth.
While facing challenges from weather impacts, Driven Brands remains focused on achieving financial targets, leveraging opportunities for growth and operational efficiency.

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Driven Brands Holdings, Inc. engages in the provision of automotive services. It provides consumer and commercial automotive needs, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. It operates through the following segments: Maintenance, Car Wash, Paint, Collision and Glass, Platform Services, and Corporate and Other. The Maintenance segment consists of the Take 5 Oil and Meineke brands, and revenue is primarily derived from the performance of maintenance services, including oil changes and regularly scheduled and as-needed automotive maintenance services and vehicle component repair and replacement. The Car Wash segment operates under the IMO brand across Europe and Australia and the Take 5 Car Wash brand in the U.S., providing express-style conveyor car wash services to both retail and commercial customers. The Paint, Collision and Glass segment includes the ABRA, CARSTAR, Fix Auto, Maaco, AGN, and Uniban brands and services both retail and commercial customers such as commercial fleet operators and insurance carriers. The Platform Services segment represents the 1-800 Radiator and A/C, PH, Spire Supply, Driven Advantage, and ATI businesses. The Corporate and Other segment focuses on the costs related to the advertising revenues and expenses and shared service costs, which are related to finance, information technology, human resources, legal, supply chain, and other support services. The company was founded in 1972 and is headquartered in Charlotte, NC.

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Driven Brands: Solid Performance, Still Priced In

Driven Brands Holdings Inc. (DRVN) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

All You Need to Know About Driven Brands Holdings Inc. (DRVN) Rating Upgrade to Strong Buy

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DRVN, M, and ARCB made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on January 6, 2022

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Driven Brands has done well to grow at a rapid pace in recent years, particularly from a sales perspective. Shares of the company are expensive on an absolute basis, but this doesn't mean the company is unappealing.

Driven Brands: Speculative Growth Might Pay Off

CHARLOTTE, N.C., Nov. 23, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) announces that Jonathan Fitzpatrick, president and chief executive officer, and Tiffany Mason, executive vice president and chief financial officer, will present at the Morgan Stanley Virtual Global Consumer & Retail Conference on Tuesday, November 30, 2021.

Driven Brands to Present at the Morgan Stanley Virtual Global Consumer & Retail Conference

Acquires 100th site since ICWG acquisition in August 2020 Acquires 100th site since ICWG acquisition in August 2020

Driven Brands Expands to Over 300 Car Washes in the U.S.

Driven Brands Holdings, Inc. (DRVN) CEO Jonathan Fitzpatrick on Q3 2021 Results - Earnings Call Transcript

Driven Brands (DRVN) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Why Driven Brands (DRVN) Might Surprise This Earnings Season

CHARLOTTE, N.C., Oct. 20, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands”) will release third quarter 2021 financial results before the market opens on October 27, 2021. Following the release, Driven Brands will host a conference call at 9:00 a.m. ET to review the financial results.

Driven Brands Holdings Inc. to Report Third Quarter Results on October 27, 2021

CHARLOTTE, N.C., Oct. 04, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) announced today that Matt Meier is joining the company as EVP, Chief Digital and Data Officer. This newly created role will oversee the company's digital and data strategies, working closely with IT and marketing to transform data into actionable business insights and lead the digital customer experience.

Matt Meier Joins Driven Brands as Chief Digital and Data Officer

CHARLOTTE, N.C., Sept. 29, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN) announced today that it has closed an offering by certain of its subsidiaries for $450,000,000 Series 2021-1 Fixed Rate Senior Secured Notes, Class A-2 (the “Offered Notes”).

Driven Brands Closes $450 Million Securitization Issuance

NEW YORK, Sept. 24, 2021 /PRNewswire/ -- Purcell Julie & Lefkowitz LLP, a class action law firm dedicated to representing shareholders nationwide, is investigating a potential breach of fiduciary duty claim involving the board of directors of Driven Brands Holdings Inc. (NASDAQ: DRVN).

SHAREHOLDER ALERT: Purcell Julie & Lefkowitz LLP Is Investigating Driven Brands Holdings Inc. for Potential Breaches of Fiduciary Duty By Its Board of Directors

Leading auto services play with a strong record of growth and profitability. Aging auto fleet and a prevalence of small operators to roll up provide a strong growth dynamic for the company.

Driven Brands: Leading Auto Services Play With Strong Upside

CHARLOTTE, N.C., Sept. 02, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) announces that Jonathan Fitzpatrick, president and chief executive officer, and Tiffany Mason, executive vice president and chief financial officer, will present at the Goldman Sachs 28th Annual Global Retailing Conference on Thursday, September 9, 2021.

Driven Brands to Present at the Goldman Sachs 28th Annual Global Retailing Conference

CHARLOTTE, N.C., Aug. 02, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (“Driven Brands” or the “Company”) (NASDAQ: DRVN), today announced the commencement of an underwritten secondary public offering of 12 million shares of Driven Brands' common stock by Driven Equity LLC and RC IV Cayman ICW Holdings LLC (together the “Selling Stockholders”), each of which is a related entity of Roark Capital Management, LLC. The Selling Stockholders also intend to grant the underwriters a 30-day option to purchase up to an additional 1,800,000 shares of common stock. Driven Brands is not selling any shares of common stock in the offering and will not receive any proceeds from the offering.

Driven Brands Announces Commencement of Secondary Offering

Driven Brands Holdings, Inc. (DRVN) CEO Jonathan Fitzpatrick on Q2 2021 Results - Earnings Call Transcript

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CHARLOTTE, N.C., July 21, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands”) will release second quarter 2021 financial results before the market opens on July 28, 2021. Following the release, Driven Brands will host a conference call at 9:00 a.m. ET to review the financial results.

Driven Brands Holdings Inc. to Report Second Quarter Results on July 28, 2021

Driven Brands Holdings Inc (NASDAQ: DRVN) has acquired 18 Frank's Car Wash Express stores in South Carolina for an undisclosed sum. Driven Brands had recently purchased 10 Racer Classic Car Washes in Texas in May.

Driven Brands Acquires 18 Frank's Car Wash Express Stores For Undisclosed Sum

Total of 67 car washes acquired since entering the business in August 2020 Total of 67 car washes acquired since entering the business in August 2020

Driven Brands Acquires 18 Frank's Car Wash Express Stores

Driven Brands Holdings, Inc. (DRVN) CEO Jonathan Fitzpatrick on Q1 2021 Results - Earnings Call Transcript

Driven Brands Holdings (DRVN) has moved higher as of late, but there could definitely be trouble on the horizon for this company

Driven Brands (DRVN) is in Overbought Territory: What's Next?

CHARLOTTE, N.C., April 21, 2021 (GLOBE NEWSWIRE) -- Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands”) will release first quarter 2021 financial results before the market opens on April 28, 2021. Following the release, Driven Brands will host a conference call at 9:00 a.m. ET to review the financial results.

Driven Brands Holdings Inc. to Report First Quarter Results on April 28, 2021

Coronavirus restrictions aided sales for grocery and home improvement chains while acting as a headwind for services spending last year, but those trends are reversing in 2021. Car maintenance and repair spending and auto insurance losses slumped in 2020 as consumers drove less, but are rebounding in 2021, benefiting DRVN's maintenance, car wash and collision businesses.

News for Driven Brands Holdings Stock (DRVN)