Driven Brands (DRVN) Tops Q1 EPS by 13c; Raises Outlook

Driven Brands (NASDAQ: DRVN) reported Q1 EPS of $0.19, $0.13 better than the analyst estimate of $0.06. Revenue for the quarter came in at $329.9 million versus the consensus estimate of $292.25 million.

“The power of Driven Brands is evident in our strong operating results this quarter,” said Jonathan Fitzpatrick, president and chief executive officer. “Our employees and franchisees were well-positioned to capitalize on the beginning of reopening trends in the first quarter and I am confident that we will continue to do so throughout 2021 as consumers drive more.

“Given our scale, the significant whitespace in this fragmented and needs-based industry, and our robust cash generation, our business model remains well-positioned to maximize long-term value for all of our stakeholders.”

GUIDANCE:

Driven Brands sees FY2021 EPS of $0.65, versus the consensus of $0.55. Driven Brands sees FY2021 revenue of $1.3 billion, versus the consensus of $1.26 billion.

For earnings history and earnings-related data on Driven Brands (DRVN) click here.

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