Revenue increase result of 7% same-store sales growth and 4% net store growth. Paint, Collision & Glass segment same store sales up 6.4%. Driven Brands Holdings Inc. (NASDAQ: DRVN) announced revenue the fiscal year ended December 30, 2023 of $2.3 billion, up 13% versus the prior year. System-wide sales were $6.3 billion, up 12% versus […]
LKQ Reports Revenue of $3.5 Billion in Fourth Quarter
Quarterly revenue up over 16% and full year revenue up more than 8% compared to 2022. LKQ Corporation (NASDAQ:LKQ) today reported fourth quarter revenue of $3.5 billion, a 16.6% increase compared to $3.0 billion for the same period of 2022. Annual revenue was $13.9 billion, an 8.4% increase compared to $12.8 billion for the full […]
Axalta Reports Net Sales Up 6.1% in 2023
Fourth quarter net sales up 4.9%. Axalta Coating Systems Ltd. (NYSE:AXTA) announced its fourth quarter net sales increased 4.9% year-over-year to $1.3 billion. The increase in net sales was driven by a 2.3% foreign exchange benefit, 1.7% improvement in volumes, and 0.9% price-mix growth. Net income increased 68% year-over-year to $74 million versus $44 million […]
Sherwin-Williams Reports Net Sales Up 4.1% in 2023 to Record $23.05 Billion
The Sherwin-Williams Company (NYSE: SHW) announced consolidated net sales increased 4.1% for 2023 to a record $23.05 billion from $22.15 billion in 2022. Adjusted earnings before interest, taxes, depreciation and amortization (Adjusted EBITDA) increased 17.5% in the year to $4.24 billion or 18.4% of net sales. “Sherwin-Williams delivered solid fourth quarter results, with positive sales […]
Progressive Personal Auto Policies in Force Up Over 9% in December Compared to 2022
Total personal auto policies in force were also up month-over-month. The Progressive Corporation (NYSE:PGR) reported its total personal auto insurance policies in force were 19,525,900 in December, up 84,000 or 0.4% from 19,441,900 in November. December’s policies in force represent an increase of over 1.6 million or 9.1% from 17,897,300 in December 2022. While up […]
PPG Reports Record Net Sales for Both the Fourth Quarter and Full Year
Reports record fourth quarter net sales in the aerospace, automotive refinish and automotive original equipment manufacturer (OEM) coatings. PPG (NYSE: PPG) today reported record fourth quarter net sales of $4.4 billion, up 4% year over year (YOY), including organic sales growth of 1%. For the full year, the company reported record sales of $18.2 billion; […]
Auto Insurer Prospects Improving Amid Price Hikes and Moderating Loss Severity
Fitch Ratings finds improvements vary widely across companies as many still report underwriting losses. The U.S. personal auto insurer segment is seeing larger pricing actions take effect, with moderating claims severity setting the stage for segment improvement in 2024, based on personal auto segment public filings for the first nine months of 2023, Fitch Ratings […]
Boyd Group Reports Sales Up Nearly 18% in Third Quarter
Same store sales were up 11.8%. MSO added 21 new collision repair locations during the quarter, including 17 acquisitions. Boyd Group Services Inc. (TSE:BYD) announced sales of $737.8 million during its third quarter ended September 30, up 17.9% from $625.7 million in the same period of 2022. Same-store sales increased by 11.8% during the third […]
CCC Third Quarter Revenue Up 11% Compared to Last Year
Company reports more than $221 million in revenue for the quarter, over $637 million for first nine months. CCC Intelligent Solutions Holdings Inc. (NASDAQ: CCCS) reported total revenue was $221.1 million for the third quarter ended September 30, an increase of 11% from $198.7 million for the third quarter of 2022. For the first nine […]
GEICO Reports Collision Claims Severity 5-7% Higher in First Nine Months of 2023 Compared to Last Year
Frequency was down, but severity up year-to-date through third quarter. Policies in force down over 12% as company reduces advertising and focuses on profitability. Berkshire Hathaway reported its third quarter earnings, including details about its GEICO subsidiary, the third largest private passenger auto insurer in the U.S. on November 4. GEICO’s pre-tax underwriting earnings in […]
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