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Driven Brands Holdings Inc. Reports Record Year of Revenue and Profitability in 2022 (article continued)
Fiscal Year 2023 Guidance
The following guidance reflects the company's expectations for fiscal year 2023 ending Dec. 30, 2023:
- Revenue of approximately $2.35 billion.
- Adjusted EBITDA of approximately $590 million.
- Adjusted earnings per share of approximately $1.21.
The company also expects:
- Same-store sales growth of 5% to7%.
- Net store growth of approximately 365:
- Maintenance: approximately 170 stores of which 70% will be franchised and 30% will be company-operated
- Car Wash: approximately 65 stores which will be company-operated
- Paint, Collision & Glass: approximately 130 stores of which 25% will be franchised and 75% will be company-operated.
The company has not included future M&A in its guidance for fiscal year 2023.
Source: Driven Brands Holdings Inc.
Abby Andrews