Driven Brands Holdings (DRVN) Reports Q2 Earnings: What Key Metrics Have to Say

Core Insights - Driven Brands Holdings Inc. (DRVN) reported revenue of $611.57 million for the quarter ended June 2024, marking a year-over-year increase of 0.8% and an EPS of $0.35, up from $0.29 a year ago [1] Revenue Performance - The reported revenue was a surprise of -2.76% compared to the Zacks Consensus Estimate of $628.9 million [1] - The EPS exceeded the consensus estimate of $0.27 by +29.63% [1] Same-Store Sales - Same-store sales increased by 0.5%, falling short of the average estimate of 2.6% from four analysts [3] - Maintenance same-store sales were reported at 4.3%, slightly below the estimated 4.5% [4] - Car Wash same-store sales decreased by 4.1%, better than the estimated decline of 5.2% [5] Store Count - Total store count was reported at 5,053, slightly below the estimated 5,062 [6] Revenue Breakdown - Franchise royalties and fees generated $50.03 million, below the estimated $52.26 million, with a year-over-year change of +0.5% [7] - Company-operated store sales were $394.68 million, compared to the average estimate of $405.87 million, showing no change year over year [8] - Independently-operated store sales were $60.28 million, below the estimated $62.02 million, representing a -2% change year over year [9] - Advertising contributions totaled $24.91 million, below the estimated $25.96 million, with a year-over-year change of +0.7% [10] - Supply and other revenue reached $81.67 million, below the estimated $83.37 million, with a year-over-year increase of +7.2% [11] - Maintenance revenue was reported at $277.90 million, slightly above the estimated $277.24 million, reflecting a +14.7% year-over-year change [12] - Car Wash revenue was $156.90 million, exceeding the estimated $152.87 million, with a year-over-year decline of -4.8% [13] - Paint, Collision and Glass revenue was $112 million, below the estimated $123.15 million, showing a -15.9% year-over-year change [14] Stock Performance - Shares of Driven Brands Holdings have returned +2.9% over the past month, outperforming the Zacks S&P 500 composite's +1.1% change [14] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [14]