Loading...
•
Sep 30, 2023
Driven Brands Q3 2023 Earnings Report
Driven Brands' Q3 2023 financial performance was reported, showing revenue growth driven by same-store sales and net store growth, but also reflecting a net loss due to significant impairment charges.
Key Takeaways
Driven Brands reported a 12% increase in revenue to $581.0 million for Q3 2023. System-wide sales increased by 10% to $1.6 billion, driven by a 6% increase in same-store sales growth and a 6% increase in net store growth. The company experienced a net loss of $799.3 million due to non-cash goodwill and asset impairment charges.
Revenue increased by 12% year-over-year, reaching $581.0 million.
System-wide sales grew by 10% year-over-year, totaling $1.6 billion.
The company added 55 net new stores during the quarter.
A net loss of $799.3 million was recorded, impacted by significant non-cash impairment charges.
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 reaffirms its financial outlook for fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income