Driven Brands Holdings Inc. Reports Third Quarter 2024 Results
Driven Brands Holdings Inc. (DRVN)
Company Research
Source: Business Wire
--15th consecutive quarter of same store sales growth----Take 5 Oil Change delivers 15% revenue growth and 5% same store sales growth----Net Loss of $15 million and Adjusted EBITDA of $139 million----Re-affirms FY24 Revenue, Adj. EBITDA and Adj. EPS outlook excluding disposition-- CHARLOTTE, N.C.--(BUSINESS WIRE)--Driven Brands Holdings Inc. (NASDAQ: DRVN) (“Driven Brands” or the “Company”) today reported financial results for the third quarter ending September 28, 2024.For the third quarter, Driven Brands delivered revenue of $592 million, up 2% versus the prior year. System-wide sales were $1.6 billion, up 2% versus the prior year primarily driven by 1.1% same store sales growth and 56 net new units.Net loss was $14.9 million or $0.09 per diluted share versus a net loss of $799.3 million or $4.83 per diluted share in the prior year. Adjusted Net Income1 was $41.8 million or $0.26 per diluted share versus $29.9 million or $0.18 per diluted share in the prior year. Adjusted EBITDA1
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News
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Stifel Nicolaus from $20.00 to $22.00. They now have a "buy" rating on the stock.MarketBeat
- We Think Driven Brands Holdings' (NASDAQ:DRVN) Profit Is Only A Baseline For What They Can Achieve [Yahoo! Finance]Yahoo! Finance
- Priciest home sale around Rock Hill wasn't for the usual suspects but in a tiny town [Yahoo! Finance]Yahoo! Finance
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Royal Bank of Canada from $17.00 to $20.00. They now have an "outperform" rating on the stock.MarketBeat
- Driven Brands Holdings Inc. (NASDAQ: DRVN) had its price target raised by analysts at Canaccord Genuity Group Inc. from $20.00 to $21.00. They now have a "buy" rating on the stock.MarketBeat
DRVN
Earnings
- 10/31/24 - Beat
DRVN
Sec Filings
- 11/12/24 - Form SCHEDULE
- 11/7/24 - Form 10-Q
- 10/31/24 - Form 8-K
- DRVN's page on the SEC website