Driven Brands (US:DRVN) ZACKSยท2024-10-31 13:25Group 1: Earnings Performance - Driven Brands Holdings Inc. reported quarterly earnings of $0.26 per share, exceeding the Zacks Consensus Estimate of $0.23 per share, and up from $0.20 per share a year ago, representing an earnings surprise of 13.04% [1] - The company has surpassed consensus EPS estimates for the last four quarters [2] - The revenue for the quarter ended September 2024 was $591.68 million, which missed the Zacks Consensus Estimate by 2.01%, compared to $581.03 million in the same quarter last year [2] Group 2: Stock Performance and Outlook - Driven Brands Holdings shares have decreased by approximately 0.5% since the beginning of the year, while the S&P 500 has gained 21.9% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.21 on revenues of $576.94 million, and for the current fiscal year, it is $1.03 on revenues of $2.36 billion [7] Group 3: Industry Context - The Automotive - Original Equipment industry, to which Driven Brands Holdings belongs, is currently ranked in the bottom 25% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]