Driven Brands Holdings Inc. Reports First Quarter 2025 Results
--17th consecutive quarter of same store sales growth--
--Take 5 Oil Change delivers revenue growth of 15% and same store sales growth of 8%--
--Completed divestiture of U.S. car wash business in April 2025--
--Reaffirms fiscal year 2025 outlook--
CHARLOTTE, N.C.--(BUSINESS WIRE)--May 06, 2025--
Driven Brands Holdings Inc. (NASDAQ: DRVN) ("Driven Brands" or the "Company") today reported financial results for the first quarter ending March 29, 2025.
For 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.
Net 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 Income(1) was $44 million or $0.27 per diluted share versus $40 million or $0.25 per diluted share in the prior year. Adjusted EBITDA(1) was $125 million, up 2% versus the prior year.
"We 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," said Jonathan Fitzpatrick, President and Chief Executive Officer.
"I 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," Fitzpatrick concluded.
First Quarter 2025 Key Performance Indicators by Segment
System-wide
Sales (in Store Same Store Revenue Adjusted EBITDA
millions) Count Sales(2) (in millions) (in millions)
------------ -------------- ----- ------------ --------------- -----------------
Take 5 $ 387.5 1,203 8.0% $ 293.4 $ 100.9
------------ ------------- ----- ---- ----- ----------- ------ -----
Franchise
Brands 1,033.4 2,660 (2.9)% 71.7 44.4
------------ ------------- ----- ---- ---- ----------- ------ -----
Car Wash 66.6 718 26.2% 68.0 24.4
------------ ------------- ----- ---- ----- ----------- ------ -----
Corporate
and
Other 59.3 216 N/A 83.0 (44.6)
------------ ------------- ----- ---- ------ ----------- ------ ----
Total $ 1,546.8 4,797 0.7% 516.2 125.1
------------ ------------- ----- ---- ----- ----------- ------ -----
Capital and Liquidity
The 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's variable funding note borrowing capacity if the Company elects to exercise them, assuming certain conditions continue to be met.
Fiscal Year 2025 Outlook
The Company reaffirms its financial outlook for fiscal year 2025 ending December 27, 2025.
2025 Outlook
------------------------ ----------------------
Revenue $2.05 - $2.15 billion
------------------------ ----------------------
Adjusted EBITDA(1) $520 - $550 million
------------------------ ----------------------
Adjusted Diluted EPS(1) $1.15 - $1.25
------------------------ ----------------------
The Company also expects:
-- Same store sales growth of 1% - 3% -- Net store growth of approximately 175 - 200
Note: 2025 Outlook excludes the impact of any potential M&A and divestitures other than the completed sale of the U.S. car wash business.
(1) Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP financial measures. See "Reconciliation of Non-GAAP Financial Measures" for additional information on non-GAAP financial measures and a reconciliation to the most comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein.
(2) The Company does not provide same store sales results for Corporate and Other as it is a non-reportable segment. The same store sales results for any applicable businesses within Corporate and Other are included in the Company's overall same store sales results.
Conference Call
Driven Brands will host a conference call to discuss first quarter 2025 results today, Tuesday, May 6, at 8:30 a.m. ET. The call will be available by webcast and can be accessed by visiting Driven Brands' Investor Relations website at investors.drivenbrands.com. A replay of the call will be available for at least three months.
About Driven Brands
Driven Brands$(TM)$ , headquartered in Charlotte, NC, is the largest automotive services company in North America, providing a range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance and car wash. Driven Brands is the parent company of some of North America's leading automotive service businesses including Take 5 Oil Change$(R)$ , Meineke Car Care Centers(R) , Maaco(R) , 1-800-Radiator & A/C(R) , Auto Glass Now(R) , and CARSTAR(R) . Driven Brands has approximately 4,800 locations across the United States and 13 other countries, and services tens of millions of vehicles annually. Driven Brands' network generates approximately $2.0 billion in annual revenue from approximately $6.1 billion in system-wide sales.
Disclosure Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe, " "continue," "could," "estimate," "expect," "intend," "likely," "may," "plan," "possible," "potential," "predict," "project," "should," "target, " "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this Press Release, including statements regarding our strategy, future operations, future financial position, future revenue, projected costs, prospects, trends, plans, objectives of management, impact of accounting standards and outlook, impairments, and expected market growth are forward-looking statements. In particular, forward-looking statements include, among other things, statements relating to: (i) our ability to realize the value of the note received as partial payment in the sale of our U.S. Car Wash business; (ii) potential post-closing obligations and liabilities relating to the sale of our U.S. Car Wash business; (iii) the current geopolitical environment, including the impact, both direct and indirect, of government actions, such as proposed and enacted tariffs; (iv) our strategy, outlook, and growth prospects; (v) our operational and financial targets and dividend policy; (vi) general economic trends and trends in the industry and markets; (vii) the risks and costs associated with the integration of, and or ability to integrate, our stores and business units successfully; (viii) the proper application of generally accepted accounting principles, which are highly complex and involve many subjective assumptions, estimates, and judgments; and (ix) the competitive environment in which we operate. Forward-looking statements are not based on historical facts, but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 28, 2024 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements.
DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
Three Months Ended
------------------------------------
(in thousands, except per share
amounts) March 29, 2025 March 30, 2024
---------------- ------------------
Net revenue:
Franchise royalties and fees $ 44,710 $ 45,045
Company-operated store sales 314,131 284,229
Independently-operated store
sales 66,640 53,047
Advertising contributions 25,325 24,070
Supply and other revenue 65,357 75,601
----------- -----------
Total net revenue 516,163 481,992
----------- -----------
Operating Expenses:
Company-operated store expenses 181,866 169,342
Independently-operated store
expenses 36,475 29,355
Advertising expenses 25,325 24,070
Supply and other expenses 35,028 36,216
Selling, general, and
administrative expenses 143,052 123,811
Depreciation and amortization 33,152 31,116
----------- -----------
Total operating expenses 454,898 413,910
----------- -----------
Operating income 61,265 68,082
----------- -----------
Other expenses, net:
Interest expense, net 36,534 43,751
Foreign currency transaction
loss, net 210 4,321
----------- -----------
Other expenses, net 36,744 48,072
----------- -----------
Income before taxes from continuing
operations 24,521 20,010
Income tax expense 7,031 8,458
----------- -----------
Net income from continuing
operations 17,490 $ 11,552
Net loss from discontinued
operations, net of tax (11,984) $ (7,291)
----------- -----------
Net income $ 5,506 $ 4,261
=========== ===========
Basic earnings (loss) per share:
Continuing Operations $ 0.11 $ 0.07
Discontinued Operations (0.07) (0.04)
----------- -----------
Net basic earnings per share $ 0.04 $ 0.03
=========== ===========
Diluted earnings (loss) per
share:
Continuing Operations $ 0.11 $ 0.07
Discontinued Operations (0.07) (0.05)
----------- -----------
Net diluted earnings per share $ 0.04 $ 0.02
=========== ===========
Weighted average shares
outstanding
Basic 160,568 159,631
Diluted 161,818 160,604
DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(in thousands, except share and
per share amounts) March 29, 2025 December 28, 2024
---------------- ---------------------
Assets
Current assets:
Cash and cash equivalents $ 152,042 $ 149,573
Restricted cash 332 358
Accounts and notes receivable,
net 201,217 177,654
Inventory 63,829 66,539
Prepaid and other assets 47,771 37,841
Income tax receivable 12,917 14,294
Advertising fund assets,
restricted 55,140 49,716
Assets held for sale 70,691 77,616
Current assets of discontinued
operations 67,442 83,847
----------- --------------
Total current assets 671,381 657,438
Other assets 127,278 125,422
Property and equipment, net 734,511 711,505
Operating lease right-of-use
assets 535,242 524,442
Deferred commissions 7,315 7,246
Intangibles, net 662,417 665,896
Goodwill 1,413,298 1,403,056
Deferred tax assets 8,363 8,206
Non-current assets of
discontinued operations 1,141,846 1,158,576
----------- --------------
Total assets $ 5,301,651 $ 5,261,787
=========== ==============
Liabilities and shareholders'
equity
Current liabilities:
Accounts payable $ 110,377 $ 85,843
Accrued expenses and other
liabilities 201,955 193,638
Income tax payable 1,518 6,860
Current portion of long-term debt 32,234 32,232
Income tax receivable liability 22,674 22,676
Advertising fund liabilities 24,058 22,030
Current liabilities of
discontinued operations 64,490 70,616
----------- --------------
Total current liabilities 457,306 433,895
Long-term debt 2,616,272 2,656,308
Deferred tax liabilities 94,165 87,485
Operating lease liabilities 505,980 491,282
Income tax receivable liability 110,907 110,935
Deferred revenue 31,060 31,314
Long-term accrued expenses and
other liabilities 19,867 20,122
Non-current liabilities of
discontinued operations 822,851 823,112
----------- --------------
Total liabilities 4,658,408 4,654,453
----------- --------------
Preferred Stock $0.01 par value;
100,000,000 shares authorized;
none issued or outstanding -- --
Common stock, $0.01 par value,
900,000,000 shares authorized:
and 164,274,617 and 163,842,248
shares outstanding;
respectively 1,643 1,638
Additional paid-in capital 1,709,580 1,699,851
Accumulated deficit (997,077) (1,002,583)
Accumulated other comprehensive
loss (70,903) (91,572)
----------- --------------
Total shareholders' equity 643,243 607,334
----------- --------------
Total liabilities and
shareholders' equity $ 5,301,651 $ 5,261,787
=========== ==============
DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
Three Months Ended
------------------------------------
(in thousands) March 29, 2025 March 30, 2024
---------------- ------------------
Net income $ 5,506 $ 4,261
Adjustments to reconcile net income
to net cash provided by operating
activities:
Depreciation and amortization 35,355 43,229
Share-based compensation expense 11,788 11,861
(Gain) loss on foreign denominated
transactions (132) 7,574
Loss (gain) on foreign currency
derivatives 342 (3,253)
Loss (gain) on sale and disposal of
businesses, fixed assets, and sale
leaseback transactions 12,933 5,434
Reclassification of interest rate
hedge to income (514) (519)
Bad debt expense 4,510 2,070
Asset impairment charges and lease
terminations 5,813 979
Amortization of deferred financing
costs and bond discounts 3,089 1,954
Amortization of cloud computing 1,881 1,345
Provision (benefit) for deferred
income taxes 4,540 (2,807)
Other, net (6,985) 10,669
Changes in operating assets and
liabilities, net of acquisitions:
Accounts and notes receivable, net (26,449) (17,351)
Inventory 3,310 (1,005)
Prepaid and other assets (5,079) (4,270)
Advertising fund assets and
liabilities, restricted (4,091) 7,650
Other assets (2,584) (33,300)
Deferred commissions 69 (331)
Deferred revenue (255) 1,659
Accounts payable 20,847 14,165
Accrued expenses and other
liabilities 18,122 6,293
Income tax receivable (6,885) 3,976
----------- -----------
Cash provided by operating
activities 75,131 60,283
----------- -----------
Cash flows from investing
activities:
Capital expenditures (56,227) (89,483)
Cash used in business acquisitions,
net of cash acquired -- (2,024)
Proceeds from sale leaseback
transactions 8,696 4,550
Proceeds from sale or disposal of
businesses and fixed assets 3,519 52,677
----------- -----------
Cash used in investing activities (44,012) (34,280)
----------- -----------
Cash flows from financing
activities:
Payment of debt extinguishment and
issuance costs (1,414) --
Repayment of long-term debt (32,418) (7,616)
Proceeds from revolving lines of
credit and short-term debt 33,000 46,000
Repayment of revolving lines of
credit and short-term debt (43,000) (46,000)
Repayment of principal portion of
finance lease liability (1,353) (886)
Payment of Tax Receivable Agreement -- (24,718)
Tax obligations for share-based
compensation (2,582) --
----------- -----------
Cash used in financing activities (47,767) (33,220)
----------- -----------
Effect of exchange rate changes on
cash 1,549 1,133
----------- -----------
Net change in cash, cash
equivalents, restricted cash, and
cash included in advertising fund
assets, restricted (15,099) (6,084)
----------- -----------
Cash and cash equivalents, beginning
of period 169,954 176,522
Cash included in advertising fund
assets, restricted, beginning of
period 38,930 38,537
Restricted cash, beginning of period 358 657
----------- -----------
Cash, cash equivalents, restricted
cash, and cash included in
advertising fund assets,
restricted, beginning of period 209,242 215,716
----------- -----------
Cash and cash equivalents, end of
period 155,584 165,513
Cash included in advertising fund
assets, restricted, end of period 38,227 43,462
Restricted cash, end of period 332 657
----------- -----------
Cash, cash equivalents, restricted
cash, and cash included in
advertising fund assets,
restricted, end of period $ 194,143 $ 209,632
=========== ===========
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
The following information provides definitions and reconciliations of the non-GAAP financial measures presented in this earnings release to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). The Company has provided this non-GAAP financial information, which is not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in this earnings release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measures presented in this earnings release. The non-GAAP financial measures in this earnings release may differ from similarly titled measures used by other companies.
Non-GAAP Financial Measures in Outlook
Driven Brands includes Adjusted Earnings Before Interest, Tax, Depreciation and Amortization ("Adjusted EBITDA") and Adjusted Earnings per Share ("Adjusted EPS") in the Company's Fiscal Year 2025 Outlook. Adjusted EBITDA and Adjusted EPS are non-GAAP financial measures and have not been reconciled to the most comparable GAAP financial measures because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide an outlook for the comparable GAAP measures. Forward-looking estimates of Adjusted EBITDA and Adjusted EPS are made in a manner consistent with the relevant definitions and assumptions noted herein and in our filings with the SEC.
Adjusted Net Income and Adjusted Earnings Per Share
Adjusted Net Income and Adjusted EPS are considered non-GAAP financial measures under the SEC's rules because they exclude certain amounts included in the net income attributable to Driven Brands common stockholders and diluted earnings per share attributable to Driven Brands common stockholders calculated in accordance with GAAP. Management believes that Adjusted Net Income and Adjusted EPS are meaningful measures to share with investors because they facilitate comparison of the current period performance with that of the comparable prior period. In addition, Adjusted Net Income and Adjusted EPS afford investors a view of what management considers to be Driven Brands' core earnings performance as well as the ability to make a more informed assessment of such earnings performance with that of the prior period.
The tables below reflect the calculation of Adjusted Net Income and Adjusted Earnings Per Share for the three months ended March 29, 2025, compared to the three months ended March 30, 2024.
Net Income to Adjusted Net Income and Adjusted Earnings Per Share (Unaudited)
Three Months Ended
------------------------------------
(in thousands, except per share
data) March 29, 2025 March 30, 2024
---------------- ------------------
Net income from continuing
operations $ 17,490 $ 11,552
Adjustments:
Acquisition related costs(a) 15 1,701
Non-core items and project costs,
net(b) 5,244 4,711
Cloud computing amortization(c) 1,881 1,345
Share-based compensation expense(d) 11,788 11,861
Foreign currency transaction loss,
net(e) 210 4,321
Asset sale leaseback (gain) loss,
net, impairment and closed store
expenses(f) 11,753 3,976
Amortization related to acquired
intangible assets(g) 4,659 6,415
Valuation allowance for deferred tax
asset(h) 299 1,134
----------- -----------
Adjusted net income before tax
impact of adjustments $ 53,339 $ 47,016
Tax impact of adjustments(i) (9,160) (7,004)
----------- -----------
Adjusted net income from continuing
operations $ 44,179 $ 40,012
=========== ===========
Basic earnings per share from
continuing operations $ 0.11 $ 0.07
Diluted earnings per share from
continuing operations $ 0.11 $ 0.07
Adjusted basic earnings per share
from continuing operations $ 0.27 $ 0.25
Adjusted diluted earnings per share
from continuing operations $ 0.27 $ 0.25
Weighted average shares outstanding
Basic 160,568 159,631
Diluted 161,818 160,604
(1) Adjusted Earnings Per Share is calculated under the two-class method.
Under the two-class method, adjusted earnings per share is calculated
using adjusted net income attributable to common shares, which is
derived by reducing adjusted net income by the amount attributable to
participating securities. Adjusted Net Income attributable to
participating securities used in the basic and diluted earnings per
share calculations was less than $1 million for the three months ended
March 29, 2025 and March 30, 2024.
Adjusted EBITDA
Adjusted EBITDA is considered a non-GAAP financial measure under the Securities and Exchange Commission's ("SEC") rules because it excludes certain amounts included in net income calculated in accordance with GAAP. Management believes that Adjusted EBITDA is a meaningful measure to share with investors because it facilitates comparison of the current period performance with that of the comparable prior period. In addition, Adjusted EBITDA affords investors a view of what management considers to be Driven Brand's core operating performance as well as the ability to make a more informed assessment of such operating performance as compared with that of the prior period.
Please see the company's Annual Report on Form 10-K for the fiscal year ended December 28, 2024, filed with the SEC on February 28, 2024, for additional information on Adjusted EBITDA. The tables below reflect the calculation of Adjusted EBITDA for the three months ended March 29, 2025, compared to the three months ended March 30, 2024.
Net Income to Adjusted EBITDA Reconciliation (Unaudited)
Three Months Ended
----------------------------------
(in thousands) March 29, 2025 March 30, 2024
---------------- ----------------
Net income from continuing operations $ 17,490 $ 11,552
Income tax expense 7,031 8,458
Interest expense, net 36,534 43,751
Depreciation and amortization 33,152 31,116
------------ ------------
EBITDA 94,207 94,877
------------ ------------
Acquisition related costs(a) 15 1,701
Non-core items and project costs, net(b) 5,244 4,711
Cloud computing amortization(c) 1,881 1,345
Share-based compensation expense(d) 11,788 11,861
Foreign currency transaction loss,
net(e) 210 4,321
Asset sale leaseback (gain) loss, net,
impairment and closed store
expenses(f) 11,753 3,976
------------ ------------
Adjusted EBITDA $ 125,098 $ 122,792
============ ============
Adjusted EBITDA, Adjusted Net Income and Adjusted Earnings Per Share Footnotes
(a) Consists of acquisition costs as reflected within the consolidated
statements of operations, including legal, consulting and other fees, and
expenses incurred in connection with acquisitions completed during the
applicable period, as well as inventory rationalization expenses incurred
in connection with acquisitions. We expect to incur similar costs in
connection with other acquisitions in the future and, under GAAP, such
costs relating to acquisitions are expensed as incurred and not
capitalized.
(b) Consists of discrete items and project costs, including third-party
professional costs associated with strategic transformation initiatives
as well as non-recurring payroll-related costs.
(c) Includes non-cash amortization expenses relating to cloud computing
arrangements.
(d) Represents non-cash share-based compensation expense.
(e) Represents foreign currency transaction losses, net that primarily
related to the remeasurement of our intercompany loans as well as gains
and losses on cross currency swaps and forward contracts.
(f) Consists of the following items (i) (gains) losses, net on sale
leasebacks, disposal of assets, or sale of business; (ii) net losses
(gains) on sale for assets held for sale; and (iii) impairment of certain
fixed assets and operating lease right-of-use assets related to closed
and underperforming locations, lease exit costs and other costs
associated with stores that were closed prior to the respective lease
termination dates.
(g) Consists of amortization related to acquired intangible assets as
reflected within depreciation and amortization in the consolidated
statement of operations.
(h) Represents valuation allowances on income tax carryforwards in certain
domestic jurisdictions that are not more likely than not to be realized.
(i) Represents the tax impact of adjustments associated with the reconciling
items between net income (loss) and Adjusted Net Income, excluding the
provision for uncertain tax positions and valuation allowance for certain
deferred tax assets. To determine the tax impact of the deductible
reconciling items, we utilized statutory income tax rates ranging from 9%
to 36% depending upon the tax attributes of each adjustment and the
applicable jurisdiction.
DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES
ADJUSTED EBITDA RECONCILIATION (UNAUDITED)
Three Months Ended
------------------------------------
(in thousands) March 29, 2025 March 30, 2024
---------------- ------------------
Take 5 $ 100,918 $ 88,888
Franchise Brands 44,383 47,589
Car Wash 24,388 17,985
Corporate and Other (44,591) (31,670)
--- ---------- -----------
Adjusted EBITDA $ 125,098 $ 122,792
=== ========== ===========
DRIVEN BRANDS HOLDINGS INC. AND SUBSIDIARIES
ADDITIONAL INFORMATION ON KEY PERFORMANCE INDICATORS (UNAUDITED)
Three Months Ended March 29, 2025
-----------------------------------------------------
Franchise Car Corporate
(in thousands) Take 5 Brands Wash and Other Total
-------- ---------- ------- ---------- ----------
System-wide Sales
Franchise stores $136,688 $1,029,374 $ -- $ -- $1,166,062
Company-operated
stores 250,800 3,992 -- 59,339 314,131
Independently
operated stores -- -- 66,640 -- 66,640
------- --------- ------ --------- ---------
Total System-wide
Sales $387,488 $1,033,366 $66,640 $ 59,339 $1,546,833
======= ========= ====== ========= =========
Store Count (in
whole numbers)
Franchise stores 468 2,647 -- -- 3,115
Company-operated
stores 735 13 -- 216 964
Independently
operated stores -- -- 718 -- 718
------- --------- ------ --------- ---------
Total Store Count 1,203 2,660 718 216 4,797
======= ========= ====== ========= =========
Three Months Ended March 30, 2024
-----------------------------------------------------
Franchise Car Corporate
(in thousands) Take 5 Brands Wash and Other Total
-------- ---------- ------- ---------- ----------
System-wide Sales
Franchise stores $105,556 $1,070,072 $ -- $ -- $1,175,628
Company-operated
stores 220,871 4,469 -- 58,889 284,229
Independently
operated stores -- -- 53,047 -- 53,047
------- --------- ------ --------- ---------
Total System-wide
Sales $326,427 $1,074,541 $53,047 $ 58,889 $1,512,904
======= ========= ====== ========= =========
Store Count (in
whole numbers)
Franchise stores 374 2,633 -- -- 3,007
Company-operated
stores 661 14 -- 220 895
Independently
operated stores -- -- 718 -- 718
------- --------- ------ --------- ---------
Total Store Count 1,035 2,647 718 220 4,620
======= ========= ====== ========= =========
View source version on businesswire.com: https://www.businesswire.com/news/home/20250506983156/en/
CONTACT: Shareholder/Analyst inquiries:
Dawn Francfort
ICR, Inc.
investors@drivenbrands.com
(203) 682-8200
Media inquiries:
Taylor Blanchard
taylor.blanchard@drivenbrands.com
(704) 644-8129
(END) Dow Jones Newswires
May 06, 2025 07:15 ET (11:15 GMT)
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