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Jun 25, 2022
Driven Brands Q2 2022 Earnings Report
Driven Brands reported strong second-quarter results, marked by significant same-store sales growth, net store expansion, and robust operating income growth.
Key Takeaways
Driven Brands reported a strong second quarter with a 36% increase in revenue to $508.6 million. Consolidated same-store sales increased by 13.2%, and the company added 80 net new stores. Adjusted earnings per diluted share were $0.35. The company has raised its fiscal year 2022 guidance.
Revenue increased 36% year-over-year, driven by same-store sales and net store growth.
Consolidated same-store sales increased 13.2% for the quarter.
The company added 80 net new stores during the quarter.
Adjusted Net Income was $59.7 million.
Revenue by Segment
Forward Guidance
The Company has raised its guidance for the fiscal year to account for its strong operating performance and M&A activity in the first half of 2022, as well as an updated outlook for the remainder of the year.
Positive Outlook
- Revenue of approximately $2.0 billion.
- Adjusted EBITDA of approximately $495 million.
- Adjusted earnings per diluted share of approximately $1.17.
- Low-double-digit same-store sales growth.
- Net store growth of approximately 340
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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