NASDAQ$DRVN
Driven Brands Holdings Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Driven Brands reported a slight revenue increase and maintained same-store sales growth for the 14th consecutive quarter.
Driven Brands reported a 1% increase in revenue to $612 million compared to the prior year. System-wide sales also increased by 1% to $1.7 billion, driven by same-store sales growth of 0.5% and the addition of 115 net new units. Net income was $30.2 million, or $0.18 per diluted share, while adjusted EBITDA increased by 4% to $152.2 million.
- Driven Brands achieved its 14th consecutive quarter of same-store sales growth.
- Take 5 Oil Change experienced revenue growth of 16%, supported by 6% same-store sales growth and 19% year-over-year unit growth.
- The company ended the quarter with total liquidity of $316.1 million.
- Michael Diamond was appointed as the Chief Financial Officer, effective August 9, 2024.
Headline financials
Revenue & EPS history
Driven Brands · Revenue · Quarterly
$612M
Revenue by segment
Driven Brands · $460M total across 4 segments · Q4 2025
- Company-operated store sales$316M—68.7%
- Supply and other revenue$70.2M—15.3%
- Franchise royalties and fees$45.4M—9.9%
- Advertising contributions$28.3M—6.1%
Forward guidance
The company updated its financial outlook for fiscal year 2024.
Tailwinds
- Revenue is expected to be at the low end of the original outlook (~$2.35 - $2.45 billion).
- Adjusted EBITDA is expected to be in the mid-to-high end of the original outlook (~$535 - $565 million).
- Adjusted EPS is expected to be at the high end of the original outlook (~$0.88 - $1.00).
- Net store growth is expected to be approximately 205 to 220, consistent with the original outlook.
- The company closed an offering by certain of its subsidiaries for $275.0 million in Series 2024 Class A-2 senior notes and $400.0 million in variable funding securitization senior notes.
Headwinds
- Same-store sales growth is expected to be 1% to 3%, revised from the original outlook of 3% to 5%.
- The company has not included potential future M&A in its outlook for fiscal year 2024.
- The company's net income decreased from $37.7 million to $30.2 million
- Car Wash same-store-sales-growth decreased -4.1%.
- Paint, Collision & Glass same-store-sales-growth decreased -0.5%.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 18 quarterly earnings reports · overlaid with Q2 2024
-3.4%
Avg return
Earnings day
-1.8%
Avg return
5 days after
+0.6%
Avg return
30 days after
46%
11 / 24 earnings
Positive
+10.4%
Q1 2022
Best reaction
-37.7%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | — | — | — | |
| Q4 2025 | -36.4% | +3.9% | — | |
| Q3 2025 | +5.5% | -2.8% | +7.6% | |
| Q2 2025 | +1.9% | -2.4% | +13.1% | |
| Q1 2025 | +6.8% | +2.0% | +1.3% | |
| Q4 2024 | +2.1% | +14.4% | +16.8% | |
| Q3 2024 | +3.9% | +7.3% | +18.7% | |
| Q2 2024 | +1.0% | -0.4% | +6.7% | |
| Q1 2024 | -20.9% | -21.6% | -21.6% | |
| Q4 2023 | -7.6% | -6.3% | +5.2% | |
| Q3 2023 | +2.6% | +1.3% | +20.3% | |
| Q2 2023 | -37.7% | -40.4% | -42.5% | |
| Q1 2023 | -4.5% | -7.1% | -16.1% | |
| Q4 2022 | -0.5% | +1.4% | +0.7% | |
| Q3 2022 | -4.6% | -0.9% | -4.6% | |
| Q2 2022 | +2.0% | +6.7% | +8.0% | |
| Q1 2022 | +10.4% | +9.1% | +12.9% | |
| Q4 2019 | -3.8% | -4.5% | -6.8% | |
| Q4 2021 | -1.2% | -4.3% | -5.6% | |
| Q3 2020 | -1.9% | +2.4% | +3.2% | |
| Q3 2021 | -2.0% | +4.3% | -0.6% | |
| Q2 2020 | -0.1% | -0.9% | +5.2% | |
| Q2 2021 | +3.3% | +2.7% | -4.0% | |
| Q1 2021 | +6.9% | +3.0% | +7.7% | |
| Q4 2020 | -5.8% | -10.4% | -12.1% | |
| Q1 2020 | — | — | — | |
| Q1 2019 | — | — | — |
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