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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.
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 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