Vendor News

DRIVEN BRANDS REPORTS Q2 RESULTS

07/30/21

 

Driven Brands Holdings Inc. (NASDAQ: DRVN) has reported financial results for the second quarter ended June 26, 2021. Driven Brands has more than 4,300 locations in the automotive services space across 15 countries, and services over 50 million vehicles annually.

For the second quarter, system-wide sales hit a record $1.2 billion, an increase of 65 percent versus the prior year. Revenue was $374.8 million, an increase of 123 percent versus the prior year, primarily driven, the company says, by the acquisition of International Car Wash Group (ICWG) in the third quarter of 2020.

In the car wash segment, the company added 25 stores in the second quarter for a total of 979 and recorded $122.1 million in sales, up from $114.8 million in the first quarter.

 

 



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