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Dec 31, 2022
Driven Brands Q4 2022 Earnings Report
Driven Brands reported a strong fourth quarter with revenue growth and double-digit same-store sales growth.
Key Takeaways
Driven Brands reported a strong fourth quarter with a 38% increase in revenue to $539.7 million and an 11% increase in consolidated same-store sales. Net income increased to $27.4 million, or $0.16 per diluted share, and Adjusted EBITDA increased to $130.5 million.
Revenue increased 38 percent to $539.7 million, driven by same-store sales and net store growth.
Consolidated same-store sales increased 11 percent.
The Company added 98 net new stores during the quarter.
Net income increased $66.2 million to $27.4 million or $0.16 per diluted share.
Revenue by Segment
Forward Guidance
Driven Brands provided guidance for fiscal year 2023, including revenue of approximately $2.35 billion, Adjusted EBITDA of approximately $590 million, and Adjusted Earnings Per Share of approximately $1.21. The Company also expects same-store sales growth of 5 to 7 percent and net store growth of approximately 365.
Positive Outlook
- Revenue of approximately $2.35 billion.
- Adjusted EBITDA of approximately $590 million.
- Adjusted Earnings Per Share of approximately $1.21.
- Same-store sales growth of 5 to7 percent.
- Net store growth of approximately 365
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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