Driven Brands Holdings Inc. Stock Price, News & Analysis

Motor Supply Co has announced a partnership with the Automotive Training Institute (NASDAQ: DRVN) as an exclusive Diamond Member of ATI's Annual Partner Program. This collaboration aims to enhance value for ATI's members, offering them access to quality brands such as Castrol and Bosch. The announcement coincides with ATI's annual SuperConference in Carlsbad, CA, bringing together independent auto shops for networking and education. Motor Supply Co plans to introduce at least three new supply vendors monthly to support the independent shop owners within the ATI membership.

Driven Brands Holdings (NASDAQ: DRVN) will participate in the 2022 Bank of America Consumer & Retail Technology Conference on March 8, 2022, with a presentation at 2:40 PM ET by President and CEO Jonathan Fitzpatrick and EVP and CFO Tiffany Mason.

The live webcast and presentation materials will be available on Driven Brands’ Investor Relations webpage, with a replay accessible until April 26, 2022. Headquartered in Charlotte, NC, Driven Brands is North America's largest automotive services provider, operating over 4,400 locations and servicing over 50 million vehicles annually.

Driven Brands (DRVN) reported a solid fourth quarter, with revenue reaching $391.9 million, up 36% year-over-year. System-wide sales hit $1.2 billion, an increase of 26%, alongside a net store growth of 6% and a 16.4% rise in same-store sales. Despite a $(0.23) loss per diluted share due to a one-time expense from acquiring Auto Glass Now, adjusted EPS was $0.18. For fiscal 2021, total revenue reached $1.5 billion, marking a 62% annual growth. The company projects $1.9 billion in revenue and $465 million in adjusted EBITDA for fiscal 2022.

Driven Brands Holdings Inc. (NASDAQ: DRVN) will announce its fourth quarter and fiscal 2021 financial results on February 16, 2022, before the market opens. A conference call will follow at 9:00 a.m. ET to discuss the results, accessible via live webcast on their Investor Relations webpage. Driven Brands is the largest automotive services company in North America, offering a range of services including oil changes, collision repair, and maintenance through over 4,300 centers across 15 countries, generating more than $1 billion in revenue annually.

Driven Brands Holdings (NASDAQ: DRVN) has expanded its auto glass services in the U.S. by acquiring Auto Glass Now (AGN) for approximately $170 million. AGN, an established player with over 75 locations, reported 2021 revenues of around $85 million with EBITDA margins of 25%. This strategic move taps into the growing $5 billion auto glass repair market, reflecting Driven Brands' commitment to evolving automotive services. The acquisition is expected to enhance market share and operational efficiency within the Paint, Collision, and Glass segment.

Driven Brands (NASDAQ: DRVN) will present at the Morgan Stanley Virtual Global Consumer & Retail Conference on November 30, 2021, at 12:10 PM ET. CEO Jonathan Fitzpatrick and CFO Tiffany Mason will lead the presentation, which will be accessible via the company's Investor Relations website. A replay will be available until December 31, 2021. Driven Brands is North America's largest automotive services provider, operating over 4,300 locations.

Driven Brands, based in Charlotte, NC, has achieved a significant milestone by acquiring its 100th car wash since entering the sector in August 2020. This expansion brings the total to over 300 car washes in the U.S., making Driven Brands the fastest-growing express conveyor car wash operator in North America. The latest acquisition, Magic Tunnel Car Wash, includes 16 sites across Ohio, West Virginia, and Georgia, enhancing its customer data strategy. Driven Brands aims to leverage cost synergies and its proven operational model to foster growth.

Driven Brands Holdings reported impressive Q3 2021 results with revenue reaching $371.1 million, a 39% increase from the prior year. System-wide sales totaled $1.2 billion, reflecting a 28% growth, while same-store sales surged 12.8%. The company added 53 net new stores, leading to a net income of $33.1 million, a remarkable 712% increase year-over-year. Adjusted EBITDA rose 42% to $98.0 million. Driven Brands has raised its FY 2021 guidance, expecting revenues of approximately $1.4 billion.

Driven Brands Holdings (NASDAQ: DRVN) will announce its third quarter 2021 financial results on October 27, 2021, before the market opens. A conference call to discuss the results will follow at 9:00 a.m. ET, accessible via live webcast on the company's Investor Relations website. A replay of the webcast will be available until February 15, 2022. Driven Brands, based in Charlotte, NC, is the largest automotive services company in North America, operating over 4,300 centers and generating more than $1 billion in revenue.