Tuesday Ticker: Magna raises annual forecast; shares drop at Driven Brands
Toronto, Ontario — In this weekly Tuesday Ticker, Magna raises its annual outlook amid stellar Q2 financials; Nikola hires its fourth CEO and Driven Brands sees some stock dips. Mega Magna Magna International reported its Q2 financials last week, beating out analyst estimates with 17 percent revenue growth, to $10.98 billion, the company said Friday. […]
Tuesday Ticker: August 31, 2021
Toronto, Ontario — In this week’s Tuesday Ticker, Canada joins Mexico in its request for a formal United-States-Mexico-Canada-agreement (USMCA) consultation, Rivian files a confidential public offering and Driven Brands prepares for its secondary public offering. Parts parlance Canada has joined Mexico in seeking a formal consultation with the United States over USMCA content rules for […]
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 […]
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 […]
