1Q26 Report Brings DRVN Current on its Financials; FY26 Guidance Reiterated; BUY

研报英文原文证据摘录

1Q26 Report Brings DRVN Current on its Financials; FY26 Guidance Reiterated; BUY

June 11, 2026 Driven Brands Holdings, Inc.

(DRVN, Buy, $17 PT)

Marvin Fong, CFA

1Q26 Report Brings DRVN Current on its Financials; FY26 Guidance (212) 527-3562 mfong@btig.com

Reiterated; BUY Company DataAUTOMOTIVE Closing Price $13.83

WHAT YOU SHOULD KNOW: With today's 1Q26 report coming just three weeks after Price Target $17.00

DRVN's 4Q25 report, there were relatively few surprises. DRVN met expectations,

Market Cap (M) $2,285.23 guiding Take 5's 2Q26 same-store sales to be in the mid-3% range. This was in-line with

Street expectations, as well as our own, and represents a ~260 bps deceleration in the Enterprise Value (M) $3,707.22

two-year stack. Management commented that the same pressures it is seeing from Shares Out (M) 165.24SERVICES

value-oriented and newer customers are continuing. With respect to Franchise Brands, Avg Daily Vol-3 Months (M) 1.81

the segment delivered a solid 0.9% comp in the quarter, but DRVN was cautious on Dividend / Yield $0.00 / 0.0%

the outlook with expectations for moderation in 2Q26 and continuing into the second

Revisions half of the year. By banner, Maaco remains soft as the most discretionary of all ofEQUITY Previous Current DRVN's businesses, although it is seeing some improvement at the margin in its retail

business. Meineke was characterized as strong, but collision repair is seen as sluggish Rating Buy Buy

despite a bit of a sequential pick-up in 1Q26. Also notable in the quarter, Adjusted Price Target $17.00 $17.00

EBITDA margin in the Franchise Brands segment was soft, falling 20 bps y/y and 540 FY26E REV 1,993.55 1,998.31

bps q/q. DRVN noted technology expenses pressured Franchise Brands margin. Moving FY27E REV 2,140.40 2,131.72