Driven Brands Holdings Inc. (DRVN) an automotive services company, on Tuesday reported a profit for the fourth quarter, swinging from a loss a year earlier, helped by a rise in revenue.
In pre-market activity on the Nasdaq, shares of Driven Brands were down 4.71 percent, changing hands at $13.57, after closing Monday's regular session 9.54 percent higher.
For the fourth quarter, net income was $21.18 million or $0.13 per share compared to a loss of $306.81 million or $1.92 per share last year.
Net income from continuing operations was $40.72 million or $0.25 per share compared to a loss of $20.26 million or $0.13 per share a year before.
On an adjusted basis, Net income from continuing operations was $56.41 million compared to $56.16 million in the previous year.
Adjusted diluted earnings per share from continuing operations remain flat at $0.34 per share for both years.
Quarterly revenue increased to $460.10 million from $427.21 million in the previous year.
Looking ahead to the first quarter, on a preliminary basis the Company continues to expect total net revenue to be in the range of $475 million to $485 million.
Additionally, the Company continues to expect Adjusted EBITDA to be moderately lower than the prior year.
Further, the company provides an outlook for fiscal 2026, for which the company expects revenue to be in the range of about $1.95 to $2.05 billion.
Adjusted Diluted EPS is forecasted to be approximately between $1.15 to $1.25 and Adjusted EBITDA is projected to be approximately between $430 to $460 million.
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