Driven Brands Announces New CFO, Reaffirms Below-Consensus 2023 Outlook
- Driven Brands Holdings Inc (NASDAQ: DRVN) disclosed the appointment of Gary W. Ferrera as the new CFO and Executive Vice President, effective May 10, 2023.
- Gary W. Ferrera, who will succeed Tiffany Mason, joins Driven Brands from Skillsoft Corp. (NYSE: SKIL), where he served as the CFO.
- Outlook: Driven Brands reaffirmed the 2023 guidance for revenue of around $2.35 billion (vs. consensus: $2.37 billion), adjusted EBITDA of around $590 million, and adjusted EPS of about $1.21 (vs. consensus of $1.23).
- Last week, Driven Brands reported Q1 2023 revenues of $562.5 million (+20% Y/Y), beating the consensus of $557.6 million, and adjusted EPS of $0.25 exceeded the analyst expectations of $0.23.
- Price Action: DRVN shares are trading higher by 0.51% at $28.34 on the last check Monday.
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