Driven Brands Holdings Inc., on November 1, reported third-quarter 2023 revenue of $581.0 million, a 12% increase over prior-year earnings.
System-wide sales rose 10% to $1.6 billion, driven by 6% same-store sales growth and 6% net store growth. The company added 55 net new stores in the quarter.
“This quarter, we continued to see meaningful growth and strong operational performance across our portfolio, excluding our U.S. car wash and glass businesses,” said Jonathan Fitzpatrick, president and CEO.
The company saw $835.6 million in sales in the paint, collision, and glass segment. Same-store sales declined by 4.6% at the company’s 208 stores, with revenue hitting $55.9 million.
The company remains focused on operational improvements in the U.S. car wash segment while steadily progressing with the U.S. Glass integration.
Read the full press release on PR Newswire.