IAA, Inc. (NYSE: IAA) announced its financial results for the fourth quarter and full year fiscal 2022, which ended January 1, 2023. Consolidated revenues decreased 4.5% to $523.5 million from $548.1 million in the fourth quarter of fiscal 2021. Excluding the impact of the 53rd week from the fourth quarter of fiscal 2021, consolidated revenues […]
Driven Brands Reports Record Revenue and Profitability in 2022
Revenue increased 39 percent powered by 14 percent same-store sales growth and 9 percent net store growth. Driven Brands Holdings Inc. (NASDAQ:DRVN) today reported 2022 revenue of $2.0 billion, up 39 percent versus the prior year. System-wide sales were $5.6 billion, up 24 percent versus the prior year with 14 percent same-store sales growth and […]
Uni-Select Inc. Reports 2022 Sales Up 7.4%
Uni-Select Inc. (TSE:UNS) reported consolidated sales of $1,731.4 million in 2022, up $118.6 million or 7.4% compared to 2021. Sales increased by 11.7% excluding the impact of unfavorable fluctuation of the British pound and the Canadian dollar against the US dollar. The company reported organic growth of 10.7% with all three segments reporting positive organic […]
Allstate Reports Auto Written Premiums Up 13.3% in Fourth Quarter
Increase driven by significant rate increases in the Allstate brand and growth at National General. Auto combined ratio of 112.6 in the fourth quarter of 2022 was up 8.3 points from 2021 quarter. The Allstate Corporation (NYSE:ALL) yesterday reported total revenues of $13.6 billion in the fourth quarter of 2022, an increase 4.9% compared to […]
Axalta 2022 Sales Up Over 10% Compared to 2021
Axalta Coating Systems Ltd. (NYSE:AXTA) announced its net sales for the fourth quarter ended December 31, 2022, increased 8.7% year-over-year, including a 5.4% foreign currency headwind. The strong year-over-year growth was driven by 11.7% higher average price-mix, and 2.4% better volumes. Performance Coatings net sales, which includes Refinish, increased 1.8% year-over-year, driven by constant currency growth of […]
PPG Reports Record $17.7 Billion Sales in 2022
Reports U.S. body shop activity continues to be robust. PPG (NYSE:PPG) yesterday reported net sales of $4.2 billion for the fourth quarter, up 5% in constant currencies driven by higher selling prices. Full year sales were approximately $17.7 billion, aided by 8% organic growth. Net sales were higher by 10% in constant currencies, including selling […]
GM Expects North American EVs to be Profitable in 2025 as Capacity Tops 1 Million
At investor meeting, vehicle manufacturer updates 2022 financial guidance and provides performance indicators through 2025. General Motors Co. (NYSE: GM) expects its growing portfolio of electric vehicles will be solidly profitable in 2025 in North America as the company scales electric vehicle (EV) capacity in the region to more than 1 million units annually, ramps […]
Copart Reports First Quarter Revenue Up Over 10%
Copart, Inc. (NASDAQ:CPRT) reported revenue of $893.4 million for its fiscal first quarter ended October 31, an increase in revenue of $83.2 million, or 10.3%, from the same period last year. Gross profit $369.5 million, down $15.5 million, or 4.0%, and net income was $245.8 million, a decrease of $14.5 million, or 5.6%, from the […]
Boyd Group Reports Sales Up Over 27% in Third Quarter Compared to Last Year
Same store sales were up almost 22% during the quarter. Boyd Group Services Inc. (TSE:BYD) announced sales increased by 27.6% to $625.7 million in the third quarter ended September 30 from $490.2 million in the same period of 2021. Same-store sales increased 21.9% during the quarter. The third quarter of 2022 had the same number […]
Berkshire Hathaway Reports GEICO Collision Claims Severity 17-19% Higher in First Nine Months of 2022 Compared to Last Year
Higher used car prices and parts shortages increasing costs of claims. Berkshire Hathaway reported its third quarter 2022 earnings, including details about its GEICO subsidiary, the second largest private passenger auto insurer in the U.S. on November 5. According to the company, GEICO’s pre-tax underwriting losses in 2022 reflected increased claims severities, primarily due to […]
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