Reports 9% net store growth and same-store sales up nearly 12%.
Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported financial results for the third quarter ended September 24. For the third quarter, revenue increased 39% versus the prior year to $516.6 million. System-wide sales increased 22% versus the prior year to $1.5 billion, with 9% net store growth and an increase in consolidated same-store sales of 11.9%.
Net Income increased 16% versus the prior year to $38.4 million or $0.23 per diluted share in the third quarter. Adjusted Net Income increased 26% to $55.0 million or $0.32 per diluted share2.