Driven Brands Holdings Q4 Earnings - Update

(RTTNews) - (Adds Outlook)

For the full year, Driven Brands Holdings Inc. (DRVN) expects its annual results to improve, but below analysts' estimates. The company expects adjusted income per share of around $0.88 to $1 per share, below analysts' average estimate of $1.12 per share.

Annual revenue is projected to be in the range of around $2.35 billion to $2.45 billion, below analysts' estimate of $2.52 billion.

For the full-year 2023, the company had registered adjusted income per share of $0.85, on revenue of $2.30 billion.  

Today, as of this writing, the stock is trading down by 7.21 percent at $13.51 per share in the pre-market trade on the Nasdaq.

Below are the Q4 earnings highlights for Driven Brands Holdings Inc. (DRVN):

Earnings: -$13.149 million in Q4 vs. $27.398 million in the same period last year. EPS: -$0.08 in Q4 vs. $0.16 in the same period last year. Excluding items, Driven Brands Holdings Inc. reported adjusted earnings of $30.686 million or $0.19 per share for the period.

Analysts projected $0.19 per share Revenue: $553.677 million in Q4 vs. $539.653 million in the same period last year.