Delayed franchise disclosure documents are holding back openings in the segment that includes CARSTAR, Abra and Fix Auto USA. Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent company of collision repair networks CARSTAR, Abra and Fix Auto USA and paint franchise Maaco, said Nov. 3 that it will restate its financial statements for fiscal 2023 […]
LKQ Suspends Strategic Review, Posts Q3 Loss as Europe Struggles
North America alternative parts utilization reached a record of nearly 41% as the segment widened its margin despite fewer repairable claims. LKQ Corporation (NASDAQ: LKQ) has suspended its board’s review of strategic alternatives, including the process to sell its Specialty segment, and reported a third-quarter loss as operating problems in Europe drove revenue down 5.1% […]
LKQ Names Salvatore Abbate CEO
Justin Jude and LKQ Europe chief Andy Hamilton depart as Alvarez & Marsal is retained to advise on European operations. LKQ Corporation (NASDAQ: LKQ) has appointed Salvatore A. “Sal” Abbate, the former chief executive officer of Veritiv Corporation, as its next president and CEO, replacing Justin Jude, who left the company Oct. 23, the same […]
Progressive Reports Personal Auto Policies in Force Up 7.4% in September Compared to 2025
While up year-over-year, the personal auto policy count declined compared to the previous month for the first time since late 2023. The Progressive Corporation (NYSE: PGR) reported its total personal auto insurance policies in force were 28,195,000 in September 2026, an increase of 1,946,000, or 7.4%, from 26,249,000 in September 2025. September extended the moderation […]
Dealership Body Shop Sales Edge Up to $3.94 Billion in First Half as Share of Dealers Operating On-Site Shops Declines
The share of franchised dealers operating body shops posted its largest midyear decline in at least eight years, while sales per repair order jumped nearly 10%. Body shop sales at U.S. franchised new-vehicle dealerships totaled $3.94 billion in the first half of 2026, up 0.8% from $3.91 billion in the first half of 2025 but […]
U.S. Property/Casualty Industry Nearly Triples Underwriting Income to $31.2 Billion in First Half
The U.S. property/casualty industry recorded $31.2 billion in net underwriting income in the first half of 2026, nearly three times the $10.9 billion posted in the same prior-year period, according to a new AM Best report. The industry’s combined ratio improved four points to 92.5. A combined ratio below 100 indicates an underwriting profit. Incurred […]
Boyd Group Quarterly Sales Top $1 Billion for First Time
Joe Hudson’s aquisition synergies arrive ahead of schedule. Boyd Group Services Inc. (TSX: BYD; NYSE: BGSI) reported second quarter sales of $1,013.7 million for the three months ended June 30, an increase of 29.9% from $780.4 million a year earlier and the first time quarterly revenue has exceeded $1 billion in the company’s history. Adjusted […]
GEICO Second-Quarter Underwriting Earnings Fall 45.4% as Claim Frequency Increases Accelerate
Property damage and collision claim frequencies rose in the 3% to 5% range through the first six months of 2026, widening the reversal that began in the first quarter. GEICO’s pre-tax underwriting earnings fell to $994 million in the second quarter of 2026, down $827 million, or 45.4%, from $1.821 billion in the second quarter […]
Driven Brands Reports Second Quarter Revenue of $507.4 Million
Company says collision network outperforms a soft repair industry by about 200 basis points while Maaco stays under pressure. Driven Brands Holdings Inc. (NASDAQ: DRVN), the parent company of collision repair networks CARSTAR, Abra and Fix Auto USA and paint franchise Maaco, on Aug. 6 reported second quarter revenue increased 6.8% to $507.4 million, with […]
Progressive Says It Has Become the Largest U.S. Personal Auto Writer
The company says it captured roughly 75% of industry premium growth in 2025 and is now cutting rates across states representing 63% of its premium base as claim frequency declines. The Progressive Corporation (NYSE: PGR) has become the largest writer of U.S. personal auto insurance measured by trailing 12-month direct premiums written, Personal Lines President […]
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