Tuesday Ticker: August 3, 2021
Toronto, Ontario — As second-quarter financials are unveiled, this week’s Tuesday Ticker takes a look at major industry players Driven Brands, Axalta and PPG’s quarterly numbers. Driven to grow Driven Brands Holdings reported financial results for the second quarter of 2021 earlier this week, marking revenues of US$374.8 million, an increase of 123 percent versus […]
The Climb: Driven Brands reports Q1 financial results
Charlotte, North Carolina — Driven Brands has reported its financial results for the first quarter ended March 27, 2021. Driven, the parent company of collision repair brands CARSTAR, Fix Auto USA and Maaco, reported revenue of US$329.4 million—an increase of 83 percent from 2019. The company said the increase was primarily driven by the Q3 […]
Ceifets for the Job: Adam Ceifets named vice president of insurance for Driven Brands Canada
Hamilton, Ontario – CARSTAR has announced Adam Ceifets has been appointed vice president of insurance for Driven Brands Canada. Ceifets has over 27 years of industry experience with vehicle rental partners. Although he spent time on both the operations and sales teams, Ceifets spent the last 14 years driving the insurance strategy to enhance the […]
Poised for Growth: Driven Brands reports Q4 and 2020 full-year results
Charlotte, North Carolina — Driven Brands unveiled its results for the fourth quarter and fiscal year ended December 2020, reporting a near 25 percent increase to system-wide sales for the fourth quarter. The parent company of collision repair brands CARSTAR, Fix Auto USA and Maaco, Driven Brands reported Q4 2020 system-wide sales of US$935.1 million, […]
Up and Up: Wall Street analysts give Driven Brands bullish endorsement
Shares of Driven Brands Holdings Inc. rallied toward a fifth-straight gain Tuesday, after the newly public auto services company got a mostly bullish endorsement from Wall Street analysts, as a way to play the recovery in the auto industry. The stock DRVN has gained 16.7 percent during its win streak. IAs of Wednesday at 1:30 p.m. […]
Driving Down Debt: Driven Brands pays off US$722 million following stock offering
Charlotte, North Carolina — Driven Brands, the parent company of CARSTAR, Maaco and Fix Auto USA last week reported it had sold 31,818,182 shares at the offering price of US$22, netting an estimated US$661.5 million. On Jan. 21, Driven Brands said it used the proceeds from selling the 31.8 million shares to the public and […]
Tuesday Ticker: January 19, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Driven Brands makes its NASDAQ debut, Uber looks toward a profitable 2021 and Toyota boasts big EV numbers for December 2020. Driven deals Driven Brands began trading on NASDAQ last week, where shares increased by 21.32 percent as it went from an opening price of $22 to […]
Tuesday Ticker: January 12, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Driven Brands announces its plans for its proposed initial public offering, speculations on who will build Apple’s rumoured self-drivng vehicle and Tesla CEO Elon Musk is named the world’s richest person. Driven to market Last week, Driven Brands—owner of collision repair brands CARSTAR, Maaco, Fix Auto USA […]
Driven to the Market: Driven Brands sets potential stock price
Charlotte, North Carolina — Driven Brands, the owners of Carstar, Maaco, Meineke, Fix Auto USA and several other auto service companies, is looking to raise up to $760 million through an initial public offering (IPO)—which would value the company at about $3.4 billion (all figures in USD). Driven Brands plans to sell 38 million shares […]
Driven Brands looks to trade on NASDAQ
Toronto, Ontario — Driven Brands Holdings, the owners of Carstar, Maaco, Meineke, Fix Auto USA and several other auto service companies, recently filed forms with the US Federal Securities and Exchange Commission for an estimated $100 million (all figures in USD) initial public offering. However, the deal size is considered a placeholder for an IPO […]
