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Driven Brands Driven Brands Holdings Inc. Reports Third Quarter Results October 27 , 2021 Delivers Strong Same - Store Sales Growth and Adds 53 Net New Stores Reports Robust Operating Income and Earnings per Share Growth Raises Fiscal Year 2021 Guidance CHARLOTTE , N.C. , Oct. 27 , 2021 ( GLOBE NEWSWIRE ) -- Driven Brands Holdings Inc. ( NASDAQ : DRVN ) ( " Driven Brands " or " the Company " ) today reported financial results for the third quarter ended September 25 , 2021 . For the third quarter , revenue was $ 371.1 million , an increase of 39 % versus the prior year . System - wide sales were $ 1.2 billion , an increase of 28 % versus the prior year , with 4 % net store growth and an increase in consolidated same - store sales of 12.8 % . Earnings per share was $ 0.19 for the third quarter , an increase of 375 % versus the prior year . Adjusted earnings per share² was $ 0.26 , an increase of 30 % versus the prior year . " This is our third quarter as a public company and we have consistently outperformed expectations , " said Jonathan Fitzpatrick , president and CEO . " Our employees and franchisees have shown tremendous flexibility and a relentless focus on operational excellence , and I am proud of our entire team . " Fitzpatrick added . " We expect to end fiscal year 2021 strong , and with 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 . " Third Quarter Highlights • Revenue increased 39 % versus the prior year , driven by positive same - store sales growth and net store growth . • Consolidated same - store sales increased 12.8 % for the quarter , and all segments posted positive same - store sales growth . • The Company added 53 net new stores during the quarter . • The Company recorded net income in the third quarter of $ 33.1 million , an increase of 712 % versus the prior year . • Adjusted Net Income¹ was $ 43.5 million , an increase of 96 % versus the prior year . • Adjusted EBITDA³ was $ 98.0 million , an increase of 42 % versus the prior year . Third Quarter 2021 Key Performance Indicators by Segment Maintenance Car Wash Paint , Collision & Glass Platform Services Corporate / Other Total System - wide Sales ( in millions ) $ 333.8 122.0 620.3 120.3 N / A 1,196.4 Store Count Same - Store Sales * Revenue ( in millions ) 17.0 % $ 6.2 % 10.8 % 15.8 % N / A 12.8 % $ 144.5 $ 123.6 50.6 42.1 10.3 371.1 Segment Adjusted EBITDA4 ( in millions ) 47.9 38.0 22.0 16.3 1,506 1,018 1,647 201 N / A $ 4,372 * Car Wash same - store sales reflects performance for the full quarter . Total same - store sales includes Car Wash performance on a pro - rata basis beginning in August . Capital and Liquidity The Company ended the third quarter with total liquidity of $ 268.3 million , which included $ 115.5 million in cash , cash equivalents and restricted cash , and $ 152.8 million of undrawn capacity on its variable funding securitization senior notes and revolving credit facility . Subsequent to quarter end , the Company closed on a $ 450 million whole business securitization issuance . The proceeds from the issuance were used to repay the outstanding balance on the revolving credit facility and the remainder will be used for general corporate purposes , including future acquisitions . Guidance The Company has raised its guidance for fiscal year 2021 to account for the strong operating performance in the third quarter . The following guidance reflects the Company's current expectations for the fiscal year ending December 25 , 2021 :