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Why is Driven Brands Holdings Inc (DRVN) Stock down?
We've noticed a 6.48% decline in Driven Brands Holdings Inc (DRVN) stock during the 2024-08-02 trading session. While this could be attributed to normal volatility or various internal and external factors, please be aware that we are actively monitoring the situation, and we'll provide timely updates as soon as possible!
02 Aug, 2023:
Driven Brands (DRVN) shares dropped 41.15% due to an earnings miss. Revenue was $606.8 million, but profits fell short at $0.22 per share. Weak consumer demand impacted the company's car wash and windshield glass repair businesses, leading to lowered guidance with revenue expected at $2.3 billion and adjusted earnings per share around $0.92, 25% below previous estimates.
https://www.fool.com/investing/2023/08/02/why-driven-brands-stock-got-destroyed-today/
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