Driven Brands Holdings Inc will begin reporting financial results under a new three-segment structure starting with the fourth quarter of fiscal 2025.
The change follows the sale of the international car wash business. That business will be reported as discontinued operations beginning in the fourth quarter of fiscal 2025.
Before the change, segment reporting included the international car wash operations and grouped several remaining businesses together. Auto glass operations were not reported as a standalone segment. Under the new structure, results will be reported across three segments: Take 5, Franchise Brands and Auto Glass Now.
The Take 5 segment will include Take 5 Oil Change and the supply distribution business Spire Supply. The Franchise Brands segment will include franchised brands such as CARSTAR, Meineke, Maaco, Uniban and 1-800 Radiator. The Auto Glass Now segment will include U.S. retail, commercial and insurance glass operations.
Previously reported quarterly segment information for the first three quarters of fiscal 2025 has been recast to align with the new reporting structure.
“Our new segment reporting underscores our growth and cash strategy: growth from Take 5, stable cash flow from our franchise brands, and increased visibility on our developing Auto Glass Now business,” said Mike Diamond, vice-president and chief financial officer (pictured).
Driven Brands operates a network of franchised and company-owned locations providing oil change, paint, collision, glass, vehicle repair and maintenance services across North America.
