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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.
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 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