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. (NASDAQ: DRVN) generates frequent news as a large automotive services company headquartered in Charlotte, North Carolina. As the company describes itself, it is the largest automotive services company in North America, with thousands of locations across the United States and other countries. News related to Driven Brands often reflects developments across its portfolio of brands, including Take 5 Oil Change, Meineke Car Care Centers, Maaco, 1-800-Radiator & A/C, Auto Glass Now, and CARSTAR.
On this page, readers can follow coverage of Driven Brands’ earnings releases, where the company reports revenue, system-wide sales, same-store sales trends, segment performance, and non-GAAP metrics such as Adjusted EBITDA and Adjusted EPS. These updates frequently highlight the performance of key segments like Take 5 and Franchise Brands, as well as progress on same-store sales growth and net store growth.
News items also include corporate strategy announcements, such as the definitive agreement to divest IMO, the international car wash business, to Franchise Equity Partners. Such transactions are presented by the company as steps to simplify its portfolio, reduce leverage, and concentrate on core North American operations. Additional coverage may focus on capital markets activity, including whole business securitization issuances and related refinancing of existing debt.
Governance and leadership changes are another recurring theme in Driven Brands news. Examples include the appointment of an Executive Vice President and Chief Operating Officer and the election of independent directors to the Board and Audit Committee. Conference participation announcements, such as appearances at global consumer and retail conferences, also provide insight into how management communicates its strategy to the investment community.
Investors, analysts, and observers can use this news feed to monitor Driven Brands’ operational updates, portfolio moves, financing activities, and leadership developments over time.
Driven Brands Holdings (NASDAQ: DRVN) will announce its Q2 2022 earnings on July 27, 2022, before the market opens. The management will discuss the financial and operational performance during a conference call at 9:00 a.m. ET, accessible via live webcast on their Investor Relations webpage. Driven Brands is the largest automotive services company in North America, with over 4,500 locations and annual revenue exceeding $1.6 billion from more than $4.7 billion in system-wide sales. An archived replay of the call will be available until October 25, 2022.
Driven Brands (NASDAQ: DRVN) announces the election of Jose Tomás to its Board of Directors, effective July 11, 2022. His addition is significant as it ensures a majority of independent directors within the board, reinforcing the company's commitment to governance. Tomás, who currently serves as Chief Administrative Officer for TelevisaUnivision, brings extensive experience from various leading firms. The board has also restructured its Compensation and Nominating Committees to consist solely of independent directors, with Tomás participating in both.
Driven Brands Holdings (NASDAQ: DRVN) will participate in the William Blair 42nd Annual Growth Stock Conference on June 7, 2022. The presentation will feature CEO Jonathan Fitzpatrick and CFO Tiffany Mason at approximately 8:40 AM CT / 9:40 AM ET. Investors can access the live webcast on the company’s Investor Relations page, with a replay available until July 5, 2022. Driven Brands is a leading automotive services provider in North America, operating over 4,500 locations and generating more than $1.6 billion in annual revenue.
Driven Brands Holdings (NASDAQ: DRVN) reported strong Q1 2022 results, achieving revenue of $468.3 million, a 42% increase year-over-year. System-wide sales reached $1.3 billion, reflecting a 26% rise, with same-store sales growing by 15.6%. The company added 114 net new stores, and adjusted earnings per diluted share rose 47% to $0.28. With total liquidity of $667.9 million, Driven Brands remains optimistic for 2022, projecting revenue of approximately $1.9 billion and adjusted EBITDA of around $465 million.
Driven Brands Holdings (NASDAQ: DRVN) will announce its first-quarter 2022 financial results on April 27, 2022, before market opening. A conference call is scheduled for 9:00 a.m. ET to discuss these results, accessible via a live webcast on the company's Investor Relations page. A replay of the call will be available until July 26, 2022. Driven Brands is North America's largest automotive services provider, with over 4,400 locations across 15 countries, serving more than 50 million vehicles annually and generating $1 billion in revenue.
Driven Brands has launched a new Take 5 Oil Change and Car Wash co-development location in Edinburg, Texas, marking its fifth such site. The company plans to introduce at least 10 more locations in various states, including Tennessee and Florida. On its opening day, the Edinburg location serviced over 800 cars and provided oil changes to 40 vehicles. The strategy aims to enhance customer convenience by merging two service categories, showcasing a retail approach in the automotive aftermarket.
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.