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.
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