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Sep 24, 2022
Driven Brands Q3 2022 Earnings Report
Driven Brands' Q3 2022 earnings showcased strong growth, fueled by same-store sales and strategic acquisitions, leading to raised full-year guidance.
Key Takeaways
Driven Brands reported a strong third quarter with a 39% increase in revenue to $516.6 million, driven by a 11.9% increase in consolidated same-store sales and net store growth. Net income increased by 16% to $38.4 million, and the company raised its full-year guidance.
Revenue increased by 39% to $516.6 million, driven by same-store sales and net store growth.
Consolidated same-store sales increased by 11.9%.
The company added 101 net new stores during the quarter.
Net income increased by 16% to $38.4 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 third quarter of 2022, while keeping fourth quarter expectations unchanged.
Positive Outlook
- Revenue of approximately $2.0 billion.
- Adjusted EBITDA of approximately $503 million.
- Adjusted earnings per share of approximately $1.21.
- Low-double-digit same-store sales growth.
- Net store growth of approximately 370.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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