Driven Brands Grows Amid Economic Headwinds | Business and Finance News

Driven Brands delivers a mostly upbeat Q2 report with strong growth across the board, led by their Take 5 oil change locations—now in 24 straight quarters of same-store sales gains. System-wide sales rose 5% to $1.6 billion, revenue jumped 7% to $507 million, and net leverage dropped to 3.1x. Despite economic headwinds like inflation, geopolitical tensions, and shifting consumer spending, Driven Brands remains resilient, thanks to essential services and solid franchise performance. Take 5 shines brightest, with 13% system-wide sales growth and 50 new locations added this quarter, while non-oil services now account for nearly 30% of revenue. Franchise brands like Meineke and Maaco continue generating steady cash flow, though Maaco faces some pressure. The company maintains its full-year forecast but expects to land on the lower end of revenue and EBITDA targets due to lingering uncertainty. Still committed to disciplined execution, Driven Brands aims to strengthen shareholder value through strategic expansion and financial discipline. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/21d5979a7768f1fa