Driven Brands Holdings, Inc. ( (DRVN) ) has released its Q1 earnings. Here is a breakdown of the information Driven Brands Holdings, Inc. presented to its investors.
Driven Brands Holdings Inc., headquartered in Charlotte, NC, is the largest automotive services company in North America, offering a wide range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash services through its extensive network of brands like Take 5 Oil Change, Meineke Car Care Centers, and Maaco, among others.
Driven Brands Holdings Inc. reported its financial results for the first quarter of 2025, highlighting a 7% increase in revenue to $516.2 million compared to the previous year. The company also successfully completed the divestiture of its U.S. car wash business in April 2025, using the proceeds primarily to reduce debt.
Key financial metrics for the quarter included a system-wide sales increase of 2% to $1.5 billion, driven by a 1% rise in same store sales and a 4% increase in store count. The Take 5 Oil Change segment was a standout performer, achieving a 15% revenue growth and an 8% same store sales growth. Net income rose to $6 million or $0.04 per diluted share, up from $4 million or $0.02 per diluted share in the prior year. Adjusted EBITDA also saw a modest increase of 2% to $125 million.
The company remains optimistic about its fiscal year 2025 outlook, reaffirming its revenue expectations of approximately $2.05 to $2.15 billion and adjusted EBITDA of $520 to $550 million. Driven Brands anticipates continued growth with same store sales expected to rise between 1% and 3% and net store growth of approximately 175 to 200 locations.
Looking ahead, Driven Brands is confident in its strategic positioning and financial resilience, driven by its diversified portfolio of non-discretionary automotive services. The company is committed to leveraging its strong market presence to achieve its financial goals while continuing to focus on debt reduction and operational growth.