Welcome to our dedicated page for Driven Brands Holdings news (Ticker: DRVN), a resource for investors and traders seeking the latest updates and insights on Driven Brands Holdings stock.
Driven Brands Holdings Inc. reports developments across its North American automotive services platform, including Take 5 Oil Change, Meineke, Maaco, 1-800-Radiator & A/C, Auto Glass Now, CARSTAR, Abra and Fix Auto USA. News commonly covers earnings updates, same-store sales, unit growth, franchise-brand activity, collision repair certifications, auto glass operations and changes to reportable segments.
The company’s recent corporate updates also include the completed sale of its international car wash business, updated segment reporting for Take 5, Franchise Brands and Auto Glass Now, and financial-reporting matters such as restatements, delayed periodic filings, Nasdaq compliance notices and securities litigation developments.
Driven Brands (NASDAQ: DRVN) will present at the William Blair Growth Stock Conference in Chicago on June 5, 2024, at 10:00 a.m. Central/11:00 a.m. ET. The presentation will be webcast live on the company's Investor Relations website and available for replay for 30 days. Driven Brands, headquartered in Charlotte, NC, is North America's largest automotive services company with over 5,000 locations in 13 countries, servicing 70 million vehicles annually. The company generates approximately $2.3 billion in annual revenue from $6.4 billion in system-wide sales. Key brands include Take 5 Oil Change, Meineke Car Care Centers, and Maaco.
Driven Brands Holdings Inc. (NASDAQ: DRVN) reported strong financial results for the first quarter of 2024, with revenue reaching $572 million, up 2% from the prior year. The company achieved 13 consecutive quarters of same store sales growth and announced a CFO transition. Net Income was $4.3 million, Adjusted EBITDA was $131 million. The Maintenance segment delivered 5% same store sales growth driven by 7% in Take 5 Oil Change, contributing to total system-wide sales of $1.6 billion, up 7% versus the prior year.
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