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Associated Press
27-05-2025
- Automotive
- Associated Press
Driven Brands to Participate in the Baird 2025 Global Consumer, Technology & Services Conference
CHARLOTTE, N.C.--(BUSINESS WIRE)--May 27, 2025-- Driven Brands Holdings Inc. (NASDAQ: DRVN) ('Driven Brands' or the 'Company') today announced that it will participate in the Baird 2025 Global Consumer, Technology & Services Conference in New York. The Company's fireside chat is scheduled to begin at 10:50 a.m. ET on Tuesday, June 3, 2025. The fireside chat will be webcast live from the Company's Investor Relations website at on the Events & Presentations page. It will also be available for replay on the Company's Investor Relations site for at least 30 days. About Driven Brands Driven Brands ™, headquartered in Charlotte, NC, is the largest automotive services company in North America, providing a range of consumer and commercial automotive services, including paint, collision, glass, vehicle repair, oil change, maintenance, and car wash. Driven Brands is the parent company of some of North America's leading automotive service businesses including Take 5 Oil Change ®, Meineke Car Care Centers ®, Maaco ®, 1-800-Radiator & A/C ®, Auto Glass Now ®, and CARSTAR ®. Driven Brands has approximately 4,800 locations across the United States and 13 other countries, and services tens of millions of vehicles annually. Driven Brands' network generates approximately $2.0 billion in annual revenue from approximately $6.1 billion in system-wide sales. View source version on CONTACT: Shareholder/Analyst inquiries:Dawn Francfort ICR, Inc. [email protected] (203) 682-8200Media inquiries:Taylor Blanchard [email protected] (704) 644-8129 KEYWORD: NORTH CAROLINA NEW YORK UNITED STATES NORTH AMERICA INDUSTRY KEYWORD: RETAIL AUTOMOTIVE GENERAL AUTOMOTIVE OTHER AUTOMOTIVE OTHER RETAIL SPECIALTY SOURCE: Driven Brands Copyright Business Wire 2025. PUB: 05/27/2025 07:15 AM/DISC: 05/27/2025 07:14 AM
Yahoo
06-05-2025
- Automotive
- Yahoo
Driven Brands's (NASDAQ:DRVN) Q1 Sales Top Estimates
With $2.28 billion in revenue over the past 12 months, Driven Brands is a mid-sized business services company, which sometimes brings disadvantages compared to larger competitors benefiting from better economies of scale. On the bright side, it can still flex high growth rates because it's working from a smaller revenue base. Reviewing a company's long-term sales performance reveals insights into its quality. Any business can put up a good quarter or two, but many enduring ones grow for years. With approximately 5,000 locations across 49 U.S. states and 13 other countries, Driven Brands (NASDAQ:DRVN) operates a network of automotive service centers offering maintenance, car washes, paint, collision repair, and glass services across North America. 'We delivered another strong quarter, led by the sustained momentum of our Take 5 Oil Change business, which achieved its 19th consecutive quarter of same store sales growth. Additionally, we successfully completed the sale of our U.S. car wash business in early April, primarily using the proceeds to reduce our debt. While the economic environment is fluid, our diversified portfolio, anchored by non-discretionary services, demonstrates resilience and positions us well for the long term. We are confident in our ability to deliver on our 2025 outlook and remain committed to paying down debt as we grow the business,' said Jonathan Fitzpatrick, President and Chief Executive Officer. Same-Store Sales were flat year on year, in line with the same quarter last year Free Cash Flow was $18.9 million, up from -$29.2 million in the same quarter last year EBITDA guidance for the full year is $535 million at the midpoint, below analyst estimates of $542.3 million The company reconfirmed its revenue guidance for the full year of $2.1 billion at the midpoint Is now the time to buy Driven Brands? Find out in our full research report . Automotive services company Driven Brands (NASDAQ:DRVN) beat Wall Street's revenue expectations in Q1 CY2025, but sales fell by 9.8% year on year to $516.2 million. The company expects the full year's revenue to be around $2.1 billion, close to analysts' estimates. Its non-GAAP profit of $0.27 per share was 12.9% above analysts' consensus estimates. Story Continues As you can see below, Driven Brands's sales grew at an incredible 28.4% compounded annual growth rate over the last five years. This shows it had high demand, a useful starting point for our analysis. Driven Brands Quarterly Revenue We at StockStory place the most emphasis on long-term growth, but within business services, a half-decade historical view may miss recent innovations or disruptive industry trends. Driven Brands's recent performance shows its demand has slowed significantly as its annualized revenue growth of 3.6% over the last two years was well below its five-year trend. Driven Brands Year-On-Year Revenue Growth We can better understand the company's revenue dynamics by analyzing its same-store sales, which show how much revenue its established locations generate. Over the last two years, Driven Brands's same-store sales averaged 3.2% year-on-year growth. This number doesn't surprise us as it's in line with its revenue growth. Driven Brands Same-Store Sales Growth This quarter, Driven Brands's revenue fell by 9.8% year on year to $516.2 million but beat Wall Street's estimates by 2.8%. Looking ahead, sell-side analysts expect revenue to decline by 4.3% over the next 12 months, a deceleration versus the last two years. This projection doesn't excite us and implies its products and services will face some demand challenges. Software is eating the world and there is virtually no industry left that has been untouched by it. That drives increasing demand for tools helping software developers do their jobs, whether it be monitoring critical cloud infrastructure, integrating audio and video functionality, or ensuring smooth content streaming. Click here to access a free report on our 3 favorite stocks to play this generational megatrend. Operating Margin Operating margin is one of the best measures of profitability because it tells us how much money a company takes home after subtracting all core expenses, like marketing and R&D. Although Driven Brands was profitable this quarter from an operational perspective, it's generally struggled over a longer time period. Its expensive cost structure has contributed to an average operating margin of negative 3.3% over the last five years. Unprofitable business services companies require extra attention because they could get caught swimming naked when the tide goes out. It's hard to trust that the business can endure a full cycle. Looking at the trend in its profitability, Driven Brands's operating margin decreased by 18.2 percentage points over the last five years. This raises questions about the company's expense base because its revenue growth should have given it leverage on its fixed costs, resulting in better economies of scale and profitability. Driven Brands's performance was poor no matter how you look at it - it shows that costs were rising and it couldn't pass them onto its customers. Driven Brands Trailing 12-Month Operating Margin (GAAP) This quarter, Driven Brands generated an operating profit margin of 11.9%, up 1.6 percentage points year on year. This increase was a welcome development, especially since its revenue fell, showing it was more efficient because it scaled down its expenses. Earnings Per Share Revenue trends explain a company's historical growth, but the long-term change in earnings per share (EPS) points to the profitability of that growth – for example, a company could inflate its sales through excessive spending on advertising and promotions. Driven Brands's astounding 28.8% annual EPS growth over the last five years aligns with its revenue performance. This tells us it maintained its per-share profitability as it expanded. Driven Brands Trailing 12-Month EPS (Non-GAAP) In Q1, Driven Brands reported EPS at $0.27, up from $0.24 in the same quarter last year. This print easily cleared analysts' estimates, and shareholders should be content with the results. Over the next 12 months, Wall Street expects Driven Brands's full-year EPS of $1.19 to grow 7.8%. Key Takeaways from Driven Brands's Q1 Results We enjoyed seeing Driven Brands beat analysts' EPS expectations this quarter. We were also glad its revenue outperformed Wall Street's estimates. On the other hand, its full-year EPS guidance slightly missed and its same-store sales fell slightly short of Wall Street's estimates. Overall, this print was mixed but still had some key positives. The stock traded up 1.1% to $17.52 immediately after reporting. Sure, Driven Brands had a solid quarter, but if we look at the bigger picture, is this stock a buy? If you're making that decision, you should consider the bigger picture of valuation, business qualities, as well as the latest earnings. We cover that in our actionable full research report which you can read here, it's free.
Yahoo
03-04-2025
- Automotive
- Yahoo
Trump Tariffs' Pain Could Be These Stocks' Gain
If there's one thing that financial markets don't like, it's uncertainty – and President Trump's tariffs have thrown a huge bucket of uncertainty right into the mix. It's not just that his aggressive tariff policy has ignited a competitive trade war with our largest trading partners, Canada and Mexico – it's also that the mercurial President will announce tariffs, walk them back, and reimpose them. He's created an environment that makes it difficult for investors to predict what's coming next. Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks. Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter. For this week, however, we are ready to risk a prediction. The President has announced that a 25% tariff will take effect on all foreign-made automobiles and automotive parts, effective on April 2. A few immediate effects are obvious: the price of cars will likely jump, pushing the average cost of a new vehicle above the $50,000 mark. Going forward, the average age of the nation's auto fleet, already at 12 years, is likely to increase, as vehicle owners choose to keep their cars, or to buy used, rather than buy new. Those immediate effects suggest some ripples of their own. Auto maintenance companies are likely to see a boost, as drivers make sure that their older vehicles are in good running order, and American-based car makers will find a competitive advantage in being tariff-exempt. We've used the TipRanks data platform to look up the broader Wall Street picture on two stocks, one from each of these categories, that look like they could gain on tariff pain; here are the details, and some analyst commentary. Driven Brands Holdings, Inc. (DRVN) The first stock we'll look at is Driven Brands, a $3 billion company that combines automotive services with the franchise business model. Driven Brands controls a network of subsidiary franchise companies, offering services such as quick oil changes and other maintenance, paint and body work, and glass repair. Brands in the company's network include Take 5 Oil Change, Maaco, Auto Glass Now, Meineke, and CARSTAR. Together, these – along with Driven's other brands – employ over 10,000 people at more than 5,000 locations in over a dozen countries, and service more than 70 million vehicles every year. The prospect of tariffs driving up new car prices is likely to push car owners to keep their current vehicles longer, and older vehicles are more likely to require increased maintenance cycles. This could benefit Driven Brands, which is already seeing a trend toward increased maintenance and service demand. In fiscal 2024, the company reported a modest 2% increase in annual revenue, and a 1% bump in same store sales growth – but the Take 5 Oil Change brand reported 16% growth in full-year revenue, and a 7% increase in same store sales. At least in part due to that trend, Driven Brands in February of this year entered into an agreement to sell off its US car wash business. The transaction, worth $385 million, will see Driven sell its car wash brands to Express Wash Operations. The sale is expected to close in 2Q25. Turning to this company's financial results, we find that Driven's last report, covering both full-year 2024 and 4Q24, marked its sixteenth quarter in a row of same-store sales growth – an impressive statistic that underscores the company's strong base. The strongest brand in the line-up is Take 5 Oil Change, as can be seen from the annual revenue and same-store growth noted above. For the full fiscal year, Driven saw revenues of $2.3 billion; Q4 revenue came to $564 million. We should note that the quarterly revenue missed the forecast by $8.83 million, although the quarterly non-GAAP EPS of 30 cents was 12 cents per share better than had been expected. Starting with the first quarter of fiscal 2025, Driven Brands will begin reporting Take 5 Oil Change as a stand-alone business segment. The change is intended to draw attention to the company's fastest growing unit, and to emphasize the company's growth potential in the wake of the car wash business divestiture. This automotive service franchise company has caught the eye of Baird analyst Peter Benedict, who is rated by TipRanks as #56 out of more than 9,400 Wall Street analysts. Benedict sees strong potential in this company, thanks to its unique niche and successful franchise model. Moreover, the analyst is also encouraged by Driven's newly placed emphasis on its strongest segment. He writes of Driven Brands, 'We continue to see significant value in shares. With the overhang from U.S. Car Wash having been removed, and financial re-segmentation shining light on the growth engine that is Take 5, we see plenty of scope for multiple expansion (shares trade at ~9x FY25E EBITDA vs. peers at 10x-12x) as leverage continues to decline and management rebuilds investor confidence in the appeal and durability of this resilient/needs-based, highly franchised business.' Benedict goes on to rate DRVN shares as Outperform (Buy), and his $25 price target implies a robust one-year upside potential of ~50%. (To watch Benedict's track record, click here) Overall, this stock gets a Moderate Buy consensus rating from the Street, based on 12 recent analyst reviews that include 7 to Buy and 5 to Hold. The shares are priced at $16.74 and their $19.91 average target price suggests a gain of ~19% lying in wait for the next 12 months. (See DRVN stock forecast) Rivian Automotive (RIVN) Next on our list is an electric vehicle company, Rivian Automotive. You might think that an EV maker would face a difficult environment in the coming years, given the Trump Administration's known preference for promoting fossil fuel energy and combustion-engine vehicles, and for ending subsidies on EVs – but Rivian brings some strengths to the table. To start with, the company manufactures its vehicles entirely in the US, at an assembly plant in Normal, Illinois. The company first acquired the factory space in 2017, so its commitment to US manufacturing is long-standing, and today Rivian's factory includes lines for Stamping, Body, Paint, Propulsion, General Assembly, and End of Line, all housed in a state-of-the-art modern facility. Rivian has emerged as a leader in high-tech manufacturing. Together, the company's combination of domestic manufacture and workforce with cutting-edge tech should stand it well in light of Trump Administration policies – especially given the 25% tariff on imported cars and auto parts. Rivian is notable for more than its domestic manufacturing footprint. The company has also survived the long pre-production phase of the business, and put its unique vehicle design into regular production. The company currently has two models on the assembly lines and on the market, the R1S and the R1T, and its next model, the R2, is planned to begin deliveries in 2026. Rivian's vehicles are pure-play battery-electric, and designed to fit the buyer's lifestyle, as well as transportation needs. The technology behind the vehicles is Rivian's unique 'skateboard' chassis design. This is essentially a flat platform with wheels at the corners – and equipped at the factory with fittings to take a wide range of hardware and body works. The vehicles are built with independent electric motors on each wheel, rather than a more traditional drivetrain, in a configuration that combines weight savings with solid performance. The chassis is designed to allow for easy manufacture of a wide range of final vehicle styles. Rivian has also adapted its skateboard chassis system to the production of an all-electric commercial delivery van. The company's delivery van is already in use by Amazon, and delivered over 1 billion Amazon packages last year. This brings us to Rivian's last quarterly report, for 4Q24. In that quarter, the company reported $1.73 billion at the top line, up more than 31% year-over-year and beating the forecast by $300 million. At the bottom line, Rivian ran a net loss – but the EPS of ($0.70) was 7 cents per share better than had been anticipated. In addition, the company reported a quarterly gross profit of $170 million. During the whole of 2024, Rivian produced 49,476 vehicles and delivered 51,579 completed vehicles to customers. Benchmark analyst Michael Legg sees Rivian in the early stages of an expansion, one that is likely to get a boost from the company's fortuitous conformity to Trump Administration domestic manufacturing policies. He says of the company and its stock, 'We expect a stronger delivery ramp in the second half of 2025 as industry expectations realign and hype for the R2 platform builds… We expect the macro environment to improve as the year progresses and both regulations and demand become clearer. While much attention has been given to incentives and loans relating to the EV industry, we believe RIVN's DOE loan is aligned with the current administration's desire to spur high-tech domestic manufacturing, creating 7,500 new manufacturing jobs in Georgia… We believe Rivian deserves a premium valuation due to its differentiated technology, software opportunities, unique products, strong management, and brand reputation.' Legg quantifies his stance here with a Buy rating and a price target of $18, pointing toward a solid gain of ~36% on the one-year horizon. (To watch Legg's track record, click here) That's the bullish take. Rivian's stock has 22 recent Wall Street reviews, and the split of 6 Buys, 13 Holds, and 3 Sells gives the stock a Hold (i.e. Neutral) consensus rating. The shares are currently trading for $13.28 and the $14.09 average price target implies an upside of 6% in the year ahead. (See RIVN stock forecast) To find good ideas for stocks trading at attractive valuations, visit TipRanks' Best Stocks to Buy, a tool that unites all of TipRanks' equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analyst. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment. Disclaimer & DisclosureReport an Issue
Yahoo
27-01-2025
- Automotive
- Yahoo
LaJoie gets part-time RWR seat alongside Prime Video role
Corey LaJoie will run a limited NASCAR Cup Series schedule with Rick Ware Racing this season and also serve as an analyst for Prime Video. LaJoie will drive the No. 01 Ford Mustang beginning with the season-opening Daytona 500. As the team does not have a charter, he must earn a spot in the field through his qualifying speed or qualifying Duel race. The number of races LaJoie will contest with Rick Ware Racing was not announced. Nor was the schedule of races beyond Daytona. DuraMAX and Take 5 Oil Change will be LaJoie's primary sponsors at Daytona. In addition to his on-track goals, LaJoie hopes to create a Stacking Pennies Performance Brand. It begins with the car number, a nod to the stacking pennies slogan LaJoie often uses. It's also the name of the podcast he hosts each week. 'Rick Ware is someone who makes things happen,' LaJoie said. 'He's a great guy who has been a generous friend in helping me get this vision of Stacking Pennies Performance off the ground. He's allowed me to put the No. 01 on his Ford Mustangs, building off the brand fans have related to, supported, and cheered for over the past several years. 'I'm proud of what we've accomplished and excited for what's ahead, beginning at Daytona with DuraMAX and Take 5 Oil Change.' LaJoie will serve as an analyst for Prime Video during its stretch of Cup Series races that begin with the Coca-Cola 600. Prime Video will broadcast five races as one of NASCAR's newest media rights partners. 'In many ways, my driving career has been more successful than I ever could've dreamed, yet I lose sleep feeling I never reached my full potential behind the wheel,' LaJoie said. 'The pursuit of bettering myself and others around me has never been more important than it is right now. 'My presence on the track will look different than it has in previous years, and it's going to bring a new host of challenges, but my heart is set on making a lasting impact in the sport and the communities NASCAR reaches. 'Between Rick Ware, Prime Video, and the support of partners DuraMAX and Take 5 Oil Change, I'm able to follow my heart.' Story originally appeared on Racer
USA Today
27-01-2025
- Automotive
- USA Today
Corey LaJoie to attempt the 2025 Daytona 500 with Rick Ware Racing
Corey LaJoie to attempt the 2025 Daytona 500 with Rick Ware Racing Corey LaJoie will have an opportunity to make the 2025 Daytona 500. On Monday morning, Rick Ware Racing announced that LaJoie will drive the No. 01 car, previously known as the No. 15 car, with sponsorship from DuraMAX and Take 5 Oil Change. It will be an open entry, meaning he will have to qualify for the event. The 33-year-old driver was previously full-time with Rick Ware Racing in the NASCAR Cup Series during the 2024 season but will move to a part-time effort in 2025. LaJoie was traded for Justin Haley at Spire Motorsports and ended up competing in the No. 51 Cup car for the rest of the year. "Rick Ware is someone who makes things happen. He's a great guy who has been a generous friend in helping me get this vision of Stacking Pennies Performance off the ground,' LaJoie said in a press release. 'He's allowed me to put the No. 01 on his Ford Mustangs, building off the brand fans have related to, supported, and cheered for over the past several years. I'm proud of what we've accomplished and excited for what's ahead, beginning at Daytona with DuraMAX and Take 5 Oil Change.' LaJoie has been full-time in NASCAR since 2019 and has four top-5 finishes and 11 top-10 finishes over those 270 Cup Series starts. Now, the driver of the No. 01 car will be in the midst of a tough battle for the final four transfer spots in the 2025 Daytona 500. LaJoie is strong on superspeedways, so it wouldn't be shocking to see him in the Great American Race. More: Jimmie Johnson hints at Legacy Motor Club's future plans beyond NASCAR
