Driven Brands Holdings Inc., the parent of collision and paint networks Carstar, Fix Auto USA, Abra, and Maaco, reported first-quarter 2026 revenue of $484.4 million, up 8.2% from a year earlier, and reiterated its full-year outlook in results released June 11.
On the earnings call, President and CEO Danny Rivera described 2026 as a year of collision stabilization rather than a rebound. He said Driven continues to outperform the broader collision industry by 100 to 300 basis points and expects the industry to moderate in the back half of the year based on inflation data the company is tracking.
Customer-pay work emerges as a competitive angle
Rivera tied collision performance to customer-pay work, which he said is a growing part of the business. Asked by an analyst how Driven could capture more of that volume while insurance work stays soft, he pointed to Maaco as an alternative for drivers who avoid filing claims.
A customer in a light fender bender who doesn't want to risk a premium increase and chooses to pay out of pocket is work Maaco is positioned to capture, he said, noting the brand already features a large share of customer-pay business.
Within the franchise segment, Rivera said Maaco remained soft, carrying weakness from late last year into the first quarter, with some improvement on the retail side. Meineke stayed strong.
The segment grew same-store sales 0.9% and generated 60% adjusted EBITDA margins; revenue dipped slightly after Driven sold its two remaining company-operated collision locations. Auto Glass Now grew revenue 6% and same-store sales 7.2%, with Rivera citing expanded carrier relationships as a long-term driver.
Restatement costs and a late filing still hang over the quarter
The quarter still carried the weight of the accounting problems Driven disclosed in February. CFO Mike Diamond said the company recorded $9.1 million in non-recurring restatement costs in the quarter and expects full-year restatement costs of $35 million to $45 million.
Adjusted EBITDA margin declined about 140 basis points to 21.5%; excluding restatement costs, Diamond said the margin would have risen roughly 50 basis points.
Driven also moved back into compliance with its filing obligations. The company filed its delayed 2025 Form 10-K on May 19, then fell out of Nasdaq compliance again when its first-quarter Form 10-Q ran late, drawing a June 5 deficiency notice. Driven said it filed the 10-Q on June 11, the same day it reported earnings, and expects that filing to restore compliance. The securities class actions filed against the company in March remain pending.
For Carstar, Fix Auto, Abra, and Maaco franchisees, the open questions sit at the corporate level: how the litigation resolves, whether the remediation work touches areas relevant to franchise operations, and whether the customer-pay tilt Rivera described holds.
