Revenue Growth and Store Expansion
Driven Brands grew revenue by 6% and delivered adjusted EBITDA of $143 million. System-wide sales increased 3%, supported by 184 net new stores over the last 12 months, and 52 additions this quarter alone.
Take 5 Oil Change Performance
Take 5 Oil Change led with industry-leading growth, showing 10% adjusted EBITDA growth year-over-year, 169 net new stores over the past 12 months and 41 for the quarter, and same-store sales up 7%.
International Car Wash Segment Success
IMO, the international car wash business, delivered strong top and bottom line performance with same-store sales for the quarter of 19%, adjusted EBITDA of $27 million, and adjusted EBITDA margins of 37%.
Debt Reduction Progress
Driven Brands reduced net leverage to 3.9x on a pro forma basis, having paid down just under $700 million of debt since the end of 2023.