12:07 PM EDT, 05/02/2024 (MT Newswires) -- Driven Brands Holdings ( DRVN ) shares dropped nearly 26% in recent Thursday trading after the company reported its Q1 revenue missed analysts' estimates and announced the resignation of its chief financial officer.

The company reported Q1 adjusted earnings Thursday of $0.23 per diluted share, unchanged from a year earlier.

Analysts surveyed by Capital IQ expected $0.19.

Revenue for the quarter ended March 30 was $572.2 million, up from $562.5 million a year earlier.

Analysts surveyed by Capital IQ expected $584.4 million.

The company reaffirmed its full-year 2024 adjusted EPS outlook of $0.88 to $1 and revenue outlook of $2.35 billion to $2.45 billion. Analysts surveyed by Capital IQ expect adjusted EPS of $0.95 and revenue of $2.43 billion.

Driven Brands ( DRVN ) said CFO Gary W. Ferrera will step down to pursue an opportunity at a privately held company and will be succeeded by Joel Arnao on an interim basis.

Ferrera's resignation will be effective after the company files its Q1 report on Form 10-Q. The company said it has begun a search for a new CFO.

Price: 10.88, Change: -3.79, Percent Change: -25.82