Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent company of collision repair networks CARSTAR, Abra and Fix Auto USA, said its audit committee found material errors in previously issued financial statements and that the company will restate results for fiscal 2023 and 2024 and several interim periods.
Driven Brands also said it is delaying the release of fourth-quarter and fiscal 2025 results and postponing a conference call that had been scheduled for Feb. 25.
Shares of Driven Brands closed at $11.60 on Wednesday, down about 30% from Tuesday’s close of $16.61, according to market data.
Audit committee findings
Driven Brands
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