EX-99.2 6 d272537dex992.htm EX-99.2 EX-99.2

Exhibit 99.2

 

LOGO

Q1 2023 EARNINGS HIGHLIGHTS FROM Our team delivered another quarter of strong results OUR CEO and market share gains powered by our differentiated JONATHAN customer value proposition in our needs-based service FITZPATRICK “category. Our proven playbook, track record of execution and pipeline for new store growth provide a strong line of sight into future growth. We are leveraging that scale and our network benefits across our diversified platform to capitalize on the continued momentum in our business. 1ST QUARTER HIGHLIGHTS REVENUE NET INCOME EARNINGS PER SHARE $562M $30M $0.17 ADJUSTED EBITDA ADJUSTED NET INCOME ADJUSTED EARNINGS $128M $42M PER SHARE $0.25 In the first quarter, we delivered revenue growth of 20% and Adjusted EBITDA growth of 8%, roughly in line with our guidance. SYSTEM-WIDE SALES Continued same-store sales growth of 9%, net store growth of 7%, and $1.5B scaling of new locations drove system-wide sales up 19% versus prior year. TOTAL SYSTEM-WIDE SALES NET NEW STORE GROWTH SAME-STORE SALES +21 +13% MAINTENANCE MAINTENANCE +5 -11%* CAR WASH CAR WASH +31 +14% PAINT, COLLISION AND GLASS PAINT, COLLISION AND GLASS +2 -5% PLATFORM SERVICES PLATFORM SERVICES DB TOTAL DB +59 TOTAL +9% * Foreign exchange rate movement had a 230 basis point negative impact. SEGMENT MIX 6% 9% 10% 30% MAINTENANCE % % SYSTEM- 22% % 21% SEGMENT- 41% CAR WASH WIDE REVENUE ADJUSTED 43% PAINT, COLLISION AND GLASS SALES EBITDA 54% 10% PLATFORM SERVICES 28% 26% 2023 GUIDANCE Reaffirms guidance following strong +15% +15% FLAT quarter in line with expectations. ADJUSTED ADJUSTED REVENUE EBITDA EPS This document contains Non-GAAP financial measures. For full financial data and Non-GAAP reconciliations, please refer to the associated press release dated May 3, 2023, available at investors.drivenbrands.com. This document may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. For risks and other factors that may cause actual results to differ materially from expectations, refer to the risk factors described in our filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov.