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Driven Brands Holdings Inc. (DRVN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
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Driven Brands Holdings Inc. (DRVN - Free Report) reported $581.03 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 12.5%. EPS of $0.20 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +1.63% over the Zacks Consensus Estimate of $571.72 million. With the consensus EPS estimate being $0.19, the EPS surprise was +5.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Driven Brands Holdings Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Same-store sales: 6.4% versus the five-analyst average estimate of 4.4%.
Store Count - Maintenance: 1,732 versus the four-analyst average estimate of 1,746.
Store Count - Car Wash: 1,133 versus the four-analyst average estimate of 1,147.
Store Count - Paint, Collision, and Glass: 1,920 compared to the 1,925 average estimate based on four analysts.
Revenue- Supply and other revenue: $73.93 million versus $73.62 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
Revenue- Advertising contributions: $27.12 million compared to the $25.35 million average estimate based on four analysts. The reported number represents a change of +23.2% year over year.
Revenue- Independently-operated store sales: $43.58 million versus $41.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.7% change.
Revenue- Company-operated store sales: $389.04 million compared to the $384.52 million average estimate based on four analysts. The reported number represents a change of +14% year over year.
Revenue- Franchise royalties and fees: $47.36 million versus $48.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4% change.
Revenue- Corporate / Other: $8.50 million versus the three-analyst average estimate of $10.92 million. The reported number represents a year-over-year change of -16.7%.
Revenue- Platform Services: $55.90 million versus the three-analyst average estimate of $52.15 million. The reported number represents a year-over-year change of +7.5%.
Revenue- Paint, Collision and Glass: $129.40 million versus the three-analyst average estimate of $133.94 million. The reported number represents a year-over-year change of +14.2%.
Shares of Driven Brands Holdings Inc. have returned -5.1% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Driven Brands Holdings Inc. (DRVN) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
Driven Brands Holdings Inc. (DRVN - Free Report) reported $581.03 million in revenue for the quarter ended September 2023, representing a year-over-year increase of 12.5%. EPS of $0.20 for the same period compares to $0.32 a year ago.
The reported revenue represents a surprise of +1.63% over the Zacks Consensus Estimate of $571.72 million. With the consensus EPS estimate being $0.19, the EPS surprise was +5.26%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Driven Brands Holdings Inc. performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Same-store sales: 6.4% versus the five-analyst average estimate of 4.4%.
- Store Count - Maintenance: 1,732 versus the four-analyst average estimate of 1,746.
- Store Count - Car Wash: 1,133 versus the four-analyst average estimate of 1,147.
- Store Count - Paint, Collision, and Glass: 1,920 compared to the 1,925 average estimate based on four analysts.
- Revenue- Supply and other revenue: $73.93 million versus $73.62 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +9.8% change.
- Revenue- Advertising contributions: $27.12 million compared to the $25.35 million average estimate based on four analysts. The reported number represents a change of +23.2% year over year.
- Revenue- Independently-operated store sales: $43.58 million versus $41.03 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +7.7% change.
- Revenue- Company-operated store sales: $389.04 million compared to the $384.52 million average estimate based on four analysts. The reported number represents a change of +14% year over year.
- Revenue- Franchise royalties and fees: $47.36 million versus $48.60 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +4% change.
- Revenue- Corporate / Other: $8.50 million versus the three-analyst average estimate of $10.92 million. The reported number represents a year-over-year change of -16.7%.
- Revenue- Platform Services: $55.90 million versus the three-analyst average estimate of $52.15 million. The reported number represents a year-over-year change of +7.5%.
- Revenue- Paint, Collision and Glass: $129.40 million versus the three-analyst average estimate of $133.94 million. The reported number represents a year-over-year change of +14.2%.
View all Key Company Metrics for Driven Brands Holdings Inc. here>>>Shares of Driven Brands Holdings Inc. have returned -5.1% over the past month versus the Zacks S&P 500 composite's -2.2% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.