Driven Brands Holdings Inc. (NASDAQ: DRVN) today reported revenue was $508.6 million for its second quarter ended June 25, an increase of 36% versus the prior year.
System-wide sales were $1.4 billion, an increase of 22% versus the prior year, with 7% net store growth and an increase in consolidated same-store sales of 13.2%.
The $(0.34) loss per diluted share in the second quarter was driven by a $125.5 million one-time non-cash impairment charge related to intangible assets as a result of the Company’s decision to re-brand its U.S. car wash business. Adjusted earnings per diluted share was $0.35.
“We
Subscribers need to be logged in to see rest of this article. Please Login to access. If you're not a subscriber, click here for information on our satisfaction guaranteed subscription options.