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Jun 26, 2021
Driven Brands Q2 2021 Earnings Report
Driven Brands reported strong second-quarter results with significant same-store sales growth and net new store additions.
Key Takeaways
Driven Brands Holdings Inc. reported a substantial increase in revenue and earnings per share for the second quarter of 2021. Revenue increased by 123% compared to the previous year, driven by the acquisition of ICWG and organic growth across all segments. The company added 70 net new stores and saw a significant increase in consolidated same-store sales. Driven Brands raised its fiscal year 2021 guidance due to the strong operating performance.
Revenue increased by 123% year-over-year, reaching $374.8 million.
Consolidated same-store sales grew by 38.7% for the quarter.
The company added 70 net new stores during the quarter.
Net income increased by 1051% compared to the prior year, reaching $35.2 million.
Driven Brands
Driven Brands
Driven Brands Revenue by Segment
Revenue by Segment
Franchise royalties and fees Revenue
CapyFin.comCompany-operated store sales Revenue
CapyFin.comIndependently-operated store sales Revenue
CapyFin.comAdvertising contributions Revenue
CapyFin.comSupply and other Revenue
CapyFin.com Forward Guidance
The Company has raised its guidance for fiscal year 2021, expecting revenue of approximately $1.4 billion, adjusted EBITDA of approximately $345 million, and adjusted earnings per share of approximately $0.83.
Positive Outlook
- Revenue of approximately $1.4 billion
- Adjusted EBITDA of approximately $345 million
- Adjusted Earnings per Share of approximately $0.83
- Low double-digit same-store sales growth with positive same-store sales across all segments
- Maintenance: 80 to 90 stores net store growth
Revenue & Expenses
Visualization of income flow from segment revenue to net income