In this week’s Tuesday Ticker, a series of announcements covering aftermarket businesses and repair network financials paint an optimistic picture of the economic conditions in the aftermarket, which is being bolstered by stronger parts demands, manufacturing investment, salvage auction results and increased OEM spending.
Driven restates results
Driven Brands Holdings Inc., the Charlotte, N.C.-based automotive services company behind CARSTAR, Maaco, Take 5 Oil Change, Meineke, 1-800-Radiator & A/C and Auto Glass Now, reported fourth-quarter and fiscal 2025 results on May 19 after delayed filings and prior-period restatements.
The company operates paint, collision, glass, vehicle repair, maintenance, oil change and car wash brands across North America. Fourth-quarter revenue rose 7.7% to US$460.1 million, system-wide sales rose 2% to US$1.5 billion and adjusted EBITDA rose 7.3% to US$111.9 million.
For fiscal 2025, Driven reported revenue of about US$1.9 billion, system-wide sales of US$6.1 billion, a percent of same-store sales growth and store count growth of 4%. Management also detailed accounting issues tied to lease accounting, Auto Glass Now cash accounting and expense mischaracterization at Driven Advantage, with the restatement reducing adjusted EBITDA by US$57 million in 2023, US$12 million in 2024 and US$8 million through Sept. 2025.
“During our 2025 year-end closing process, we identified three issues requiring further review related to lease accounting, Auto Glass Now cash accounting and expense mischaracterization with Driven Advantage, each related to prior periods,” said Daniel Rivera, president and chief executive officer of Driven Brands, during the company’s May 19 investor call.
Following the announcement, shares closed at US$13.23 on May 19, down US$1.01 or 7.1% from the previous close of US$14.24.
Advance Auto lifts margins
Advance Auto Parts Inc., the Raleigh, N.C.-based automotive aftermarket parts distributor serving professional installers and do-it-yourself customers in the U.S., Canada, Puerto Rico and the U.S. Virgin Islands, reported first-quarter results on May 21. Net sales were US$2.6 billion, comparable-store sales rose 3.5% and gross profit reached US$1.2 billion, or 45.1% of sales, up from 42.9% a year earlier.
The company operated 4,308 stores as of April 25, along with 797 independently owned Carquest-branded stores across those markets, Mexico and the Caribbean. Adjusted operating income rose to US$99 million, or 3.8% of sales, from an adjusted operating loss of US$8 million, or 0.3% of sales, a year earlier. Advance reaffirmed 2026 guidance for US$8.49 billion to US$8.58 billion in net sales, 1% to 2% comparable-store sales growth, 40 to 45 new stores and 10 to 15 new market hubs.
“2026 is off to a solid start and we remain on track to execute our strategic priorities for the year,” said Shane O’Kelly, president and chief executive officer of Advance Auto Parts.
Following the announcement, shares closed at US$58.62 on May 21, up US$7.38 or 14.4% from the previous close of US$51.24.
XPEL commits US$110 million
XPEL Inc., the San Antonio-based supplier of paint protection film, surface protection film, window film and ceramic coatings for automotive, architectural and marine markets, announced May 19 approximately US$110 million in manufacturing and supply-chain investment. The investment includes expansion in San Antonio and the acquisition of a manufacturing facility in China, adding production capacity for protection products sold through automotive restyling, detailing and repair-adjacent channels.
The company purchased a 435,000-square-foot San Antonio site and plans to occupy about 230,000 square feet while consolidating a separate leased operations facility over 12 to 24 months. XPEL expects to fund the investment through a mix of cash on hand, operating cash flow and new real estate financing, with most non-real-estate funding expected to come from operating cash flow over the next two years.
“The investments we are making — in San Antonio, in China and across our supply chain — are designed to improve our agility and quality,” said Ryan Pape, president and chief executive officer of XPEL.
Following the announcement, shares closed at US$43.25 on May 19, up US$1.40 or 3.3% from the previous close of US$41.85.
Copart grows salvage revenue
Copart Inc., the Dallas-based online vehicle auction company serving insurers, financial institutions, dealers, rental car companies, charities, fleet operators, dismantlers, rebuilders, exporters and the public, reported fiscal third-quarter results after market close on May 21. Revenue rose 2.1% to US$1.2 billion, gross profit rose 3.7% to US$572.6 million and net income attributable to Copart fell 1.0% to US$402.4 million.
The company operates more than 250 locations in 11 countries, including Canada, and sold more than 4 million units in the last year. Fully diluted earnings per share rose 2.4% to US$0.43. For the first nine months of fiscal 2026, revenue was US$3.5 billion, gross profit was US$1.6 billion and net income attributable to Copart was US$1.2 billion.
“We’re pleased to report the results of our 3rd quarter FY 2026,” said Jeff Liaw, chief executive officer of Copart, during the company’s earnings call.
Following the after-market announcement, shares closed at US$33.79 on May 22, down US$0.61 or 1.8% from the May 21 close of US$34.40.
Stellantis sets €60 billion plan
Stellantis N.V., the Amsterdam-based global automaker behind Jeep, Ram, Chrysler, Dodge, Fiat, Peugeot, Citroën, Opel and other brands, presented its FaSTLAne 2030 financial framework and targets on May 21. The company, which operates Canadian assembly and parts operations through brands with large repair and dealership networks, set a €60 billion five-year strategic plan covering product launches, platforms, powertrains, technology, manufacturing footprint and regional execution.
The plan includes more than 60 new vehicle launches, 50 significant refreshes, 29 battery-electric vehicles, 15 plug-in hybrid or range-extended electric vehicles, 24 hybrid electric vehicles and 39 ICE or mild-hybrid vehicles. Stellantis plans more than €24 billion in platform, powertrain and technology spending and targets a 24-month vehicle-development cycle, down from up to 40 months.
“The success of FaSTLAne 2030 is built upon the great talent and strong commitment of our Stellantis team,” said Antonio Filosa, chief executive officer of Stellantis. “We will execute as one team, hands-on, to deliver incremental, profitable growth for the benefit of all our stakeholders.”
Following the announcement, U.S.-listed shares closed at US$7.56 on May 21, up US$0.03 or 0.4% from the previous close of US$7.53.
Hesai grows lidar shipments
Hesai Group, the Shanghai-based lidar supplier serving automotive ADAS, autonomous driving and robotics markets, reported first-quarter results on May 19. Net revenues rose 29.6% to RMB680.6 million, or US$98.7 million, while total lidar shipments rose 140.9% to 471,723 units.
ADAS lidar shipments reached 353,441 units, up 141.9%, while robotics lidar shipments rose 137.8% to 118,282 units. Gross margin fell to 39.1% from 41.7% a year earlier, but net income reached RMB18.3 million, compared with a RMB17.5-million loss in the prior-year quarter. Non-GAAP net income rose to RMB47.7 million from RMB8.6 million.
“We kicked off 2026 with strong momentum, delivering another quarter of robust growth with year-over-year gains in scale and profitability,” said Andrew Fan, chief financial officer of Hesai Group.
Following the announcement, shares closed at US$20.03 on May 19, down US$1.98 or 9.0% from the previous close of US$22.01.
