Driven Brands Holdings Inc. (NASDAQ:DRVN) Q2 2023 Earnings Conference Call August 2, 2023 8:30 AM ET

Company Participants

Jonathan Fitzpatrick - President & CEO

Gary Ferrera - EVP & CFO

Conference Call Participants

Simeon Gutman - Morgan Stanley

Peter Benedict - Baird

Christopher Horvers - JPMorgan

Liz Suzuki - Bank of America

Katharine McShane - Goldman Sachs

Karen Short - Credit Suisse

Christopher O'Cull - Stifel

Seth Sigman - Barclays

Sharon Zackfia - William Blair

Operator

Good morning. My name is Joelle and I will be your conference operator today. At this time, I would like to welcome everyone to the Driven Brands Q2 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I will now turn the call over to Joel Arne (ph), SVP of Finance. Joel, you may begin your conference.

Unidentified Company Representative

Thank you very much, and welcome to Driven Brands second quarter 2023 earnings conference call. The earnings release and the leverage ratio reconciliation are available for download on our website at investors.drivenbrands.com. On the call today with me are Jonathan Fitzpatrick, President and Chief Executive Officer; and Gary Ferrera, Executive Vice President and Chief Financial Officer. In a moment, Jonathan and Gary will walk you through our financial and operating performance for the quarter.

Before we begin our remarks, I'd like to remind you that management will refer to certain non-GAAP financial measures. You can find reconciliations of the most directly comparable GAAP financial measures on the company's Investor Relations website and in its filings with the Securities and Exchange Commission. During the course of this call, management may also make forward-looking statements in regards to our current plans, beliefs and expectations.

These statements are not guarantees for future performance and are subject to a number of risks and uncertainties and other factors that can cause actual results and events to differ materially from the results and the events contemplated by these forward-looking statements. Please see our earnings release and our filings with the Securities and Exchange Commission for more information. Today's prepared remarks will be followed by a question-and-answer session. We kindly ask you to limit yourself to one question and one follow-up.

With that, I'll now turn it over to Jonathan.

Jonathan Fitzpatrick

Thank you for joining us to discuss our second quarter 2023 financial results. I want to start by welcoming Gary Ferrera, our new Chief Financial Officer to the Driven Brands team. We are excited to have Gary on board and have already seen the added value, his extensive financial experience and expertise brings to the team since joining in May.