Paint, collision repair and glass segment same store sales were up 14%. Driven Brands Holdings Inc. (NASDAQ:DRVN) reported revenue of $562.5 million for the first quarter ended April 1, up 20 percent versus the prior year. System-wide sales were $1.5 billion, up 19 percent versus the prior year driven by 9 percent same-store sales growth […]
Uni-Select Reports First Quarter Sales Up Almost 10%
FinishMaster US segment was up 6.7%. Uni-Select Inc. today reported consolidated sales increased by $39.9 million or 9.7% to $449.5 million in the first quarter ended March 31. Excluding the impact of unfavorable fluctuation of the British pound and the Canadian dollar against the US dollar of $21.6 million or 5.3%, consolidated sales increased by […]
Axalta Reports Sales Up 9.4% in First Quarter Compared to Last Year
Refinish sales and volumes both up in the quarter. Axalta Coating Systems Ltd. (NYSE:AXTA) announced net sales increased 9.4% year-over-year, and 12.1% excluding the impact of foreign exchange (FX) rates, for the first quarter ended March 31. The strong growth was driven by 9.4% higher average price mix and 2.7% better volumes, offset by a […]
LKQ Corporation Reports Revenue of $3.3 Billion in First Quarter
Parts and services organic revenue growth was 7.9%. The LKQ Corporation (NASDAQ:LKQ) today reported revenue was $3.3 billion in the first quarter of both 2023, even with the first quarter of 2022. For the first quarter of 2023, parts and services organic revenue increased 7.9%, 7.1% on a per day basis, while the net impact […]
PPG Reports Record Sales of Nearly $4.4 Billion in First Quarter
Refinish coatings organic sales flat compared to last year. PPG (NYSE:PPG) yesterday reported net sales of $4.38 billion for the first quarter 2023, a record for the company and up 2% from 4.308 billion in the first quarter last year. According to the company, the year-over-year net sales change was the result of higher selling […]
Property/Casualty Insurance Underwriting Losses Soar, Net Income Shrunk in 2022
The $26.9 billion underwriting loss is the largest since 2011. Key financial results for private U.S. property/casualty insurers significantly worsened in 2022 from a year earlier, according to preliminary results from Verisk (NASDAQ: VRSK), a leading global data analytics provider, and the American Property Casualty Insurance Association (APCIA). The industry experienced a $26.9 billion net […]
PPG Raises First Quarter Financial Guidance
PPG (NYSE:PPG) yesterday announced that first quarter 2023 adjusted earnings per diluted share (EPS) is expected to be between $1.52 and $1.58, which exceeds the company’s previously communicated guidance of $1.10 to $1.20. “The pace of our operating margin recovery accelerated during the quarter, driven by higher sales volumes and additional selling price capture,” said […]
Boyd Group Reports Sales Up Nearly 30% in 2022
Same-store sales up nearly 20%. Demand for collision repair services exceeded capacity. Boyd Group Services Inc. (TSE:BYD) today announced the results for the the fourth quarter and full year ended December 31. For the year, sales increased by 29.9% to $2.4 billion from $1.9 billion in the same period of 2021, including same-store sales increases […]
U.S. Property/Casualty Insurance Industry Projected to Suffer $26.5 Billion Underwriting Loss in 2022
The U.S. property/casualty (P/C) industry recorded a $26.5 billion net underwriting loss in 2022, a slide of $21.5 billion from the prior year’s underwriting loss, according to a new AM Best report. These preliminary results are detailed in a new Best’s Special Report, titled, “First Look: 12-Month 2022 US Property/Casualty Financial Results,” and the data […]
CCC Reports Revenue of $782 Million in 2022
Up 14% compared to the previous year. CCC Intelligent Solutions Holdings Inc. (NASDAQ:CCCS) announced revenue was $782.4 million for the full year 2022, an increase of 14% from $688.3 million for the full year 2021. For the quarter ended December 31, total revenue was $204.1 million, up 9.1% compared to $187.1 million for the fourth […]
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