Driven Brands Recasts Financial Reporting Structure

By Chris Stiles • Tuesday, February 10 03:11 • Permanent Link

Driven Brands Holdings Inc. recently announced a resegmentation of its financial reporting structure, following the completion of the sale of its International Car Wash (ICW) business. As a result, the company has recast its previously reported quarterly segment financial information for the first three quarters of fiscal year 2025 to align with the new reportable segments.

The company's new segment structure now consists of three operating and reportable segments:

Take 5 * This segment includes the Take 5 Oil Change business, including the supply distribution channel through Spire Supply.
Franchise Brands * This segment comprises the company's portfolio of franchised brands, including CARSTAR, Meineke, Maaco, Uniban, and 1-800 Radiator, among other smaller brands, with over 99% of them being franchised.
Auto Glass Now * This segment encompasses the U.S. Retail, Commercial, and Insurance glass businesses.

Here's a breakdown of the recast quarterly 2025 financial information by segment:

System-wide Sales: Take 5: $387.5 million (Q1 FY25), $406.5 million (Q2 FY25), $411.6 million (Q3 FY25) Franchise Brands: $1,033.4 million (Q1 FY25), $1,075.3 million (Q2 FY25), $1,091.6 million (Q3 FY25) * Auto Glass Now: $59.3 million (Q1 FY25), $71.2 million (Q2 FY25), $70.8 million (Q3 FY25)

Net Revenue: Take 5: $293.5 million (Q1 FY25), $304.1 million (Q2 FY25), $306.3 million (Q3 FY25) Franchise Brands: $71.7 million (Q1 FY25), $74.6 million (Q2 FY25), $75.3 million (Q3 FY25) * Auto Glass Now: $59.3 million (Q1 FY25), $71.2 million (Q2 FY25), $70.8 million (Q3 FY25)

Adjusted EBITDA: Take 5: $100.9 million (Q1 FY25), $108.2 million (Q2 FY25), $107.3 million (Q3 FY25) Franchise Brands: $44.4 million (Q1 FY25), $45.4 million (Q2 FY25), $49.7 million (Q3 FY25) * Auto Glass Now: $4.0 million (Q1 FY25), $9.6 million (Q2 FY25), $7.8 million (Q3 FY25)

Same-Store Sales Growth: Take 5: 8.0% (Q1 FY25), 6.6% (Q2 FY25), 6.8% (Q3 FY25) Franchise Brands: (2.9%) (Q1 FY25), (1.5%) (Q2 FY25), 0.7% (Q3 FY25) * Auto Glass Now: 0.7% (Q1 FY25), 11.3% (Q2 FY25), 14.5% (Q3 FY25)

Store Count: Take 5: 1,203 (Q1 FY25), 1,244 (Q2 FY25), 1,282 (Q3 FY25) Franchise Brands: 2,660 (Q1 FY25), 2,673 (Q2 FY25), 2,676 (Q3 FY25) * Auto Glass Now: 216 (Q1 FY25), 214 (Q2 FY25), 213 (Q3 FY25)

These figures reflect the changes in the company's financial reporting structure and provide insight into the performance of its various segments during the recast periods. Following these announcements, the company's shares moved -0.7%, and are now trading at a price of $15.52. If you want to know more, read the company's complete 8-K report here.

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