Driven Brands Holdings Inc. (NASDAQ: DRVN) today reported financial results for the fourth quarter and fiscal year ended December 26, 2020.
For the fourth quarter, revenue was $288.5 million, an increase of 58% versus the prior year. Loss per share was $(0.06) for the fourth quarter, while adjusted earnings per share2 was $0.01.
The revenue increase was primarily driven by the acquisition of International Car Wash Group (ICWG) in the third quarter of 2020, which added 939 stores to the Driven Brands portfolio.
System-wide sales in the fourth quarter across its franchise networks were $935.1 million, an increase of 24%
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