Driven Brands Holdings Inc
For the period ended Mar 30, 2024. Filed May 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 30, 2024 · Filed May 8, 2024
DRVN$11.89-1.6%Stored close · as of Nov 6, 2026
Contents
Consolidated Statements of Operations
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)
| Three Months Ended | ||
|---|---|---|
| (in thousands, except per share amounts) | March 30, 2024 | April 1, 2023 |
| Net revenue: | ||
| Franchise royalties and fees | $45,045 | $43,515 |
| Company-operated store sales | 374,456 | 376,066 |
| Independently-operated store sales | 53,047 | 52,532 |
| Advertising contributions | 24,070 | 21,677 |
| Supply and other revenue | 75,608 | 68,677 |
| Total net revenue | 572,226 | 562,467 |
| Operating Expenses: | ||
| Company-operated store expenses | 242,053 | 243,409 |
| Independently-operated store expenses | 29,355 | 29,364 |
| Advertising expenses | 24,070 | 21,677 |
| Supply and other expenses | 36,216 | 37,266 |
| Selling, general, and administrative expenses | 116,402 | 112,328 |
| Acquisition related costs | 1,794 | 1,847 |
| Store opening costs | 1,263 | 1,025 |
| Depreciation and amortization | 43,229 | 38,198 |
| Asset impairment charges and lease terminations | 19,326 | 167 |
| Total operating expenses | 513,708 | 485,281 |
| Operating income | 58,518 | 77,186 |
| Other expenses, net: | ||
| Interest expense, net | 43,772 | 38,141 |
| Loss (gain) on foreign currency transactions | 4,321 | (1,675) |
| Other expense, net | 48,093 | 36,466 |
| Income before taxes | 10,425 | 40,720 |
| Income tax expense | 6,164 | 10,971 |
| Net income | 4,261 | 29,749 |
| Net income attributable to non-controlling interest | — | — |
| Net income attributable to Driven Brands Holdings Inc. | $4,261 | $29,749 |
| Earnings per share: | ||
| Basic | $0.03 | $0.18 |
| Diluted | $0.03 | $0.17 |
| Weighted average shares outstanding | ||
| Basic | 159,631 | 162,784 |
| Diluted | 160,604 | 166,874 |
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