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: Driven Brands celebrates two years on Nasdaq; Tesla cuts prices globally
Toronto, Ontario — This week, Driven Brands celebrates two years since going public with a guest appearance At Nasdaq and Tesla drops its Canadian prices again. Two years public Driven Brands celebrated two years since it first went public in a big way, with group president and executive vice president of paint, collision and glass […]
Go for Glass: Driven Brands expands auto glass offering into U.S. with Auto Glass Now acquisition
Charlotte, North Carolina — Driven Brands announced the expansion of its auto glass offering into the United States Tuesday with its acquisition of Auto Glass Now (AGN). The company acquired AGN for approximately US$170 million on Dec. 30, 2021. The acquisition makes Driven Brands one of largest auto glass service providers in North America, said […]
The Climb: Driven Brands reports Q1 financial results
Charlotte, North Carolina — Driven Brands has reported its financial results for the first quarter ended March 27, 2021. Driven, the parent company of collision repair brands CARSTAR, Fix Auto USA and Maaco, reported revenue of US$329.4 million—an increase of 83 percent from 2019. The company said the increase was primarily driven by the Q3 […]
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 […]
Driven to the Market: Driven Brands sets potential stock price
Charlotte, North Carolina — Driven Brands, the owners of Carstar, Maaco, Meineke, Fix Auto USA and several other auto service companies, is looking to raise up to $760 million through an initial public offering (IPO)—which would value the company at about $3.4 billion (all figures in USD). Driven Brands plans to sell 38 million shares […]
