Driven Brands Announces New CFO, Reaffirms Below-Consensus 2023 Outlook

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Driven Brands Holdings Inc 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. 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.