Compared to Estimates, Driven Brands Holdings Inc. (DRVN) Q1 Earnings: A Look at Key Metrics
Driven Brands Holdings Inc. (DRVN) reported $562.47 million in revenue for the quarter ended March 2023, representing a year-over-year increase of 20.1%. EPS of $0.25 for the same period compares to $0.28 a year ago.
The reported revenue represents a surprise of +0.79% over the Zacks Consensus Estimate of $558.04 million. With the consensus EPS estimate being $0.22, the EPS surprise was +13.64%.
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.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
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: 9% versus 6.88% estimated by five analysts on average.
Total Store Count: 4864 versus the five-analyst average estimate of 4880.
Store Count - Paint, Collision, and Glass: 1877 compared to the 1874.25 average estimate based on four analysts.
Same store sales - Maintenance: 12.6% compared to the 9.88% average estimate based on four analysts.
Revenue- Supply and other revenue: $68.68 million compared to the $62.11 million average estimate based on five analysts. The reported number represents a change of +24.3% year over year.
Revenue- Advertising contributions: $21.68 million compared to the $23.84 million average estimate based on five analysts. The reported number represents a change of +10.1% year over year.
Revenue- Independently-operated store sales: $52.53 million compared to the $55.55 million average estimate based on five analysts. The reported number represents a change of -16.7% year over year.
Revenue- Company-operated store sales: $376.07 million compared to the $376.47 million average estimate based on five analysts. The reported number represents a change of +28.6% year over year.
Revenue- Franchise royalties and fees: $43.52 million versus $40.08 million estimated by five analysts on average. Compared to the year-ago quarter, this number represents a +14.9% change.
Revenue- Corporate / Other: $5 million versus the three-analyst average estimate of $11.70 million. The reported number represents a year-over-year change of -35.1%.
Revenue- Platform Services: $52 million versus $43.42 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a +20.4% change.
Revenue- Paint, Collision and Glass: $120.80 million versus the three-analyst average estimate of $134.85 million. The reported number represents a year-over-year change of +52.1%.
View all Key Company Metrics for Driven Brands Holdings Inc. here>>>
Shares of Driven Brands Holdings Inc. have remained unchanged over the past month versus the Zacks S&P 500 composite's +0.4% 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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