{"id":847099,"date":"2025-05-06T07:38:01","date_gmt":"2025-05-06T11:38:01","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/driven-brands-holdings-inc-reports-first-quarter-2025-results\/"},"modified":"2025-05-06T07:38:01","modified_gmt":"2025-05-06T11:38:01","slug":"driven-brands-holdings-inc-reports-first-quarter-2025-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/driven-brands-holdings-inc-reports-first-quarter-2025-results\/","title":{"rendered":"Driven Brands Holdings Inc. Reports First Quarter 2025 Results"},"content":{"rendered":"

<\/p>\n

Driven Brands Holdings Inc. Reports First Quarter 2025 Results<\/b><\/p>\n

–17th consecutive quarter of same store sales growth–<\/b><\/p>\n

–Take 5 Oil Change delivers revenue growth of 15% and same store sales growth of 8%–<\/b><\/p>\n

–Completed divestiture of U.S. car wash business in April 2025–<\/b><\/p>\n

–Reaffirms fiscal year 2025 outlook–<\/b><\/p>\n

CHARLOTTE, N.C.–(BUSINESS WIRE<\/a>)–
\nDriven Brands Holdings Inc. (NASDAQ: DRVN) (\u201cDriven Brands\u201d or the \u201cCompany\u201d) today reported financial results for the first quarter ending March 29, 2025.\n<\/p>\n

\nFor the first quarter, Driven Brands delivered revenue of $516.2 million, an increase of 7% versus the prior year. System-wide sales increased 2% to $1.5 billion, driven by a 1% increase in same store sales and 4% increase in store count versus the prior year.\n<\/p>\n

\nNet income was $6 million or $0.04 per diluted share versus net income of $4 million or $0.02 per diluted share in the prior year. Adjusted Net Income1<\/sup> was $44 million or $0.27 per diluted share versus $40 million or $0.25 per diluted share in the prior year. Adjusted EBITDA1<\/sup> was $125 million, up 2% versus the prior year.\n<\/p>\n

\n\u201cWe delivered another strong quarter, led by the sustained momentum of our Take 5 Oil Change business, which achieved its 19th consecutive quarter of same store sales growth. Additionally, we successfully completed the sale of our U.S. car wash business in early April, primarily using the proceeds to reduce our debt. While the economic environment is fluid, our diversified portfolio, anchored by non-discretionary services, demonstrates resilience and positions us well for the long term. We are confident in our ability to deliver on our 2025 outlook and remain committed to paying down debt as we grow the business,\u201d said Jonathan Fitzpatrick, President and Chief Executive Officer.\n<\/p>\n

\n\u201cI would like to congratulate Danny Rivera as he steps into the role of CEO. I am pleased to remain on the board as Chair and look forward to supporting Danny in his well-deserved new role and the continued growth of Driven Brands,\u201d Fitzpatrick concluded.\n<\/p>\n

First Quarter 2025 Key Performance Indicators by Segment<\/b><\/p>\n\n\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

System-wide Sales (in millions)<\/b><\/p>\n<\/td>\n

\n

Store Count<\/b><\/p>\n<\/td>\n

\n

Same Store Sales2<\/sup><\/b><\/p>\n<\/td>\n

\n

Revenue<\/b><\/p>\n

(in millions)<\/b><\/p>\n<\/td>\n

\n

Adjusted EBITDA<\/b><\/p>\n

(in millions)<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

\nTake 5\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n387.5\n<\/p>\n<\/td>\n

\n

\n1,203\n<\/p>\n<\/td>\n

\n

\n8.0\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n293.4\n<\/p>\n<\/td>\n

\n

\n$\n<\/p>\n<\/td>\n

\n

\n100.9\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nFranchise Brands\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n1,033.4\n<\/p>\n<\/td>\n

\n

\n2,660\n<\/p>\n<\/td>\n

\n

\n(2.9\n<\/p>\n<\/td>\n

\n

\n)%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n71.7\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n44.4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCar Wash\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n66.6\n<\/p>\n<\/td>\n

\n

\n718\n<\/p>\n<\/td>\n

\n

\n26.2\n<\/p>\n<\/td>\n

\n

\n%\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n68.0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n24.4\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n

\n

\nCorporate and Other\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n59.3\n<\/p>\n<\/td>\n

\n

\n216\n<\/p>\n<\/td>\n

\n

\nN\/A\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n83.0\n<\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

\n(44.6\n<\/p>\n<\/td>\n

\n

\n)\n<\/p>\n<\/td>\n<\/tr>\n

\n

Total<\/b><\/p>\n<\/td>\n

\n

$<\/b><\/p>\n<\/td>\n

\n

1,546.8<\/b><\/p>\n<\/td>\n

\n

4,797<\/b><\/p>\n<\/td>\n

\n

0.7<\/b><\/p>\n<\/td>\n

\n

%<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

516.2<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

125.1<\/b><\/p>\n<\/td>\n

\n

\n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

Capital and Liquidity<\/span><\/b><\/p>\n

\nThe Company ended the first quarter with total liquidity of $640.8 million consisting of $152.0 million in cash and cash equivalents and $488.7 million of undrawn capacity on its variable funding securitization senior notes and revolving credit facility. This did not include the additional $135.0 million Series 2022 Class A-1 Notes that expand the Company\u2019s variable funding note borrowing capacity if the Company elects to exercise them, assuming certain conditions continue to be met.\n<\/p>\n

Fiscal Year 2025 Outlook<\/span><\/b><\/p>\n

\nThe Company reaffirms its financial outlook for fiscal year 2025 ending December 27, 2025.\n<\/p>\n\n\n\n\n\n
\n

\n\u00a0\n<\/p>\n<\/td>\n

\n

2025 Outlook<\/b><\/p>\n<\/td>\n<\/tr>\n

\n

Revenue<\/b><\/p>\n<\/td>\n

\n

\n~$2.05 – $2.15 billion\n<\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted EBITDA<\/b>1<\/sup><\/p>\n<\/td>\n

\n

\n~$520 – $550 million\n<\/p>\n<\/td>\n<\/tr>\n

\n

Adjusted Diluted EPS<\/b>1<\/sup><\/p>\n<\/td>\n

\n

\n~$1.15 – $1.25\n<\/p>\n<\/td>\n<\/tr>\n<\/table>\n

\nThe Company also expects:\n<\/p>\n