Driven Brands looks back at great Q4
American car wash company Driven Brands has done well in the fourth quarter of last year. According to a press release, they delivered revenue of $2.0 billion, up 39% versus the prior year. System-wide sales were $5.6 billion, up 24% versus the prior year.
“2022 was a year of record performance and significant strategic progress for Driven Brands,” says Jonathan Fitzpatrick, president and chief executive officer. “We deepened our competitive moat as our differentiated offering resonated with our customers. We gained significant market share in this large and growing $350 billion needs-based automotive services category, and we are leveraging our proven playbook to drive long-term, sustainable growth.”
For the fourth quarter, Driven Brands delivered revenue of $539.7 million, up 38% versus the prior year.
System-wide sales were $1.5 billion, up 24% versus the prior year with 11% same-store sales growth and 9% net store growth.
Charlotte-based Driven Brands operates express car washes in Concord, Charlotte, Fayetteville, Greenville, High Point, Hope Mills and Raeford, North Carolina.