Driven Brands Holdings Inc. (NASDAQ: DRVN) today reported revenue was $508.6 million for its second quarter ended June 25, an increase of 36% versus the prior year. System-wide sales were $1.4 billion, an increase of 22% versus the prior year, with 7% net store growth and an increase in consolidated same-store sales of 13.2%. The […]
PPG Reports Second Quarter Sales of Nearly $4.7 Billion
Automotive refinish sales were at all-time quarterly record. PPG (NYSE:PPG) reported net sales of $4.691 billion, up 8% from $4.359 billion in the same quarter last year. According to the company it had higher selling prices of 12%, but sales volumes were down 4%. The company reported raw material costs were up about 20% year […]
AkzoNobel Reports Revenue Up 14% in Second Quarter
Akzo Nobel N.V. (AKZA; AKZOY) reported revenue for the second quarter was up 14% to €2.853 billion ($2.909 billion) and 10% higher in constant currencies. The company reported its pricing up 16% companywide, offsetting the increase of raw material and other variable costs. Volumes were 9% lower. Operating income at €205 million ($209.05 million) was […]
Property and Casualty Insurers Experience Underwriting Loss in 2021
Auto physical damage written premiums were up 6.5% but direct losses grew 25.1% over pandemic influenced 2020. Despite experiencing an underwriting loss, the property/casualty insurance industry ended 2021 strong and able to support policyholders, according to a report from Verisk (NASDAQ:VRSK), the global data analytics provider, and the American Property Casualty Insurance Association (APCIA). In […]
Copart Reports Revenue of $939.9 Million in Fiscal Third Quarter
Copart, Inc. (NASDAQ: CPRT) reported revenue for the quarter ended April 30 was $939.9 million, an increase of $206.0 million, or 28.1%, from the same period last year. Gross profit was $436.3 million, an increase of $54.9 million, or 14.4%. Net income was $278.6 million, a decrease of $8.2 million, or 2.9% from last year. […]
Boyd Group Reports Sales of $556.8 Million in First Quarter, Up 32% Compared to Last Year
Continuing industry labor shortage and parts supply issues constrain growth. Company reports an unprecedented number of insurers increasing labor rates in response to wage and cost inflation. Boyd Group Services Inc. (TSE:BYD) today announced sales of $556.8 million for the first quarter ended March 31, up 32% from $421.6 million in the same period of […]
CCC Reports Revenue of $186.8 Million in First Quarter
Revenue was up 18% from last year. CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) announced total revenue was $186.8 million for the first quarter of 2022 that ended March 31, an increase of 18% from $157.8 million for the first quarter of 2021. Gross profit on a generally accepted accounting principles (GAAP) basis was $137.4 million, […]
Uni-Select Reports First Quarter Sales Up 10.7% to $409.6 million
FinishMaster US segment had 9.2% organic growth in quarter. Uni-Select Inc. (TSE:UNS) today reported consolidated sales of $409.6 million for the first quarter ended March 31, up $39.5 million or 10.7% from the first quarter of 2021. The sales increase was driven by organic growth of 11.6%, with all three segments reporting positive organic growth, […]
Berkshire Hathaway Reports GEICO Collision Claims Frequency Up 15-16% in First Quarter Compared to Last Year
Reports underwriting loss in quarter as losses and loss adjustment expense were up over 32%. Berkshire Hathaway reported its first quarter 2022 earnings, including details about its GEICO subsidiary, the second largest auto insurer in the U.S. According to the company, GEICO premiums written in the first quarter of 2022 were $10.265 billion, an increase […]
Axalta Reports Sales Up 10.4% in First Quarter Compared to Last Year
Refinish sales up 15.6% compared to 2021 and volume up 4%. Axalta Coating Systems Ltd. (NYSE:AXTA) reported net sales of $1,174.1 million for its first quarter ended March 31, an increase of 10.4% year-over-year, including a 3.0% foreign currency offset. The year-over-year growth was driven by 8.8% higher average price-mix, a 3.6% M&A benefit, and […]
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