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Sep 25, 2021
Driven Brands Q3 2021 Earnings Report
Driven Brands demonstrated strong financial performance in Q3 2021, marked by substantial revenue growth, same-store sales increases, and strategic store expansion.
Key Takeaways
Driven Brands reported a strong third quarter with a 39% increase in revenue to $371.1 million. Consolidated same-store sales grew by 12.8%, and the company added 53 net new stores. Net income increased by 712% to $33.1 million, and adjusted earnings per share increased by 30% to $0.26. The company raised its fiscal year 2021 guidance.
Revenue increased by 39% year-over-year, driven by same-store sales and net store growth.
Consolidated same-store sales increased by 12.8%, with positive growth across all segments.
The company added 53 net new stores during the quarter.
Net income increased by 712% year-over-year to $33.1 million.
Revenue by Segment
Forward Guidance
The Company has raised its guidance for fiscal year 2021 to account for the strong operating performance in the third quarter. The following guidance reflects the Company’s current expectations for the fiscal year ending December 25, 2021:
Positive Outlook
- Revenue of approximately $1.4 billion
- Adjusted EBITDA of approximately $350 million
- Adjusted Earnings per Share of approximately $0.84
- Approximately 15% same-store sales growth, with positive same-store sales across all segments
- Net store growth of approximately 200, driven by franchise and company-operated store growth as well as tuck-in acquisitions completed through the third quarter.
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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