Revenue Results: Driven Brands announces fourth quarter and 2024 financial results; reports $2.3 billion in total revenue

Toronto, Ontario – Driven Brands has reported its financial results for the fourth quarter and full 2024 fiscal year, highlighting a total revenue of $2.3 billion, an increase of two percent.

As noted in a recent report, system-wide sales for the company also increased by four percent to $6.5 billion, “driven by a one percent increase in same-store sales and a four percent increase in store count.”

Other highlights for the fourth quarter and 2024 financial year include:

• Adjusted net income of $186 million, or $1.14 per diluted share versus $142 million, or $0.85 per diluted share in the prior year.
• Adjusted EBITDA was $553 million, up seven percent versus the prior year.

“Fiscal year 2024 was a year of growth and strong execution for Driven Brands, led by our flagship brand Take 5 Oil Change. We are proud of the results, as we delivered Adjusted EBITDA and same store sales in line with our full-year outlook, while also achieving our full-year leverage target. These results are directly attributable to more than 10,000 Driven Brands team members and franchisees who consistently deliver an exceptional customer experience,” said Jonathan Fitzpatrick, President and Chief Executive Officer

Additionally, in a separate release, Driven Brands further announced that the company’s board has appointed Daniel Rivera as the company’s president and chief executive officer, effective as of May 9, 2025. Michael Macaluso will continue to lead his business segment, including CARSTAR and Uniban in Canada as Group President, reporting to Daniel.

Previous CEO, Jonathan Fitzpatrick will remain on the board and has been appointed as non-executive chair as of May 9, 2025.

For more information about Driven Brand’s financial results, click here.