NASDAQ$DRVN
Driven Brands Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Driven Brands' Q3 2023 financial performance was reported, showing revenue growth driven by same-store sales and net store growth, but also reflecting a net loss due to significant impairment charges.
Driven Brands reported a 12% increase in revenue to $581.0 million for Q3 2023. System-wide sales increased by 10% to $1.6 billion, driven by a 6% increase in same-store sales growth and a 6% increase in net store growth. The company experienced a net loss of $799.3 million due to non-cash goodwill and asset impairment charges.
- Revenue increased by 12% year-over-year, reaching $581.0 million.
- System-wide sales grew by 10% year-over-year, totaling $1.6 billion.
- The company added 55 net new stores during the quarter.
- A net loss of $799.3 million was recorded, impacted by significant non-cash impairment charges.
Headline financials
Revenue & EPS history
Driven Brands · Revenue · Quarterly
$581M
Revenue by segment
Driven Brands · $581M total across 5 segments · Q3 2023
- Company-operated store sales$389M+14.0%67.0%
- Supply and other revenue$73.9M+9.8%12.7%
- Franchise royalties and fees$47.4M+4.0%8.2%
- Independently-operated store sales$43.6M+7.7%7.5%
- Advertising contributions$27.1M+23.2%4.7%
Forward guidance
The Company reaffirms its financial outlook for fiscal year 2023.
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 Q3 2023
-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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