Mister Car Wash Inc

MCW

Equity

ISIN US60646V1052 / Valor 111974989

New York Stock Exchange, Inc (2024-09-17)

USD 6.51+0.31%

Mister Car Wash Inc
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About company

Mister Car Wash Inc operates a chain of car washes across the United States, offering a variety of exterior cleaning, detailing, and maintenance services for vehicles.

Summarized from source with an LLMView SourceSector: Consumer Cyclicals

Net Revenues Increase

Mister Car Wash Inc. reported an 8% increase in net revenues for the second quarter of 2024, reaching $255.0 million, up from $236.9 million in the same quarter of 2023. This growth was driven by the strength of their subscription business and the introduction of the new Titanium offering.

Comparable-Store Sales Growth

During the second quarter of 2024, Mister Car Wash Inc. saw a 2.4% increase in comparable-store sales. This positive performance highlights the company's ability to attract and retain customers across its existing locations.

Unlimited Wash Club Memberships

Mister Car Wash Inc. added approximately 15 thousand net new Unlimited Wash Club® (UWC) members in the second quarter of 2024, bringing the total to approximately 2.1 million members as of June 30, 2024. UWC sales represented 72% of total wash sales, up from 69% in the second quarter of 2023.

Adjusted EBITDA Growth

Adjusted EBITDA for Mister Car Wash Inc. increased by 20% to $88.7 million in the second quarter of 2024, compared to $73.9 million in the same period of 2023. This growth was attributed to effective expense management and operational optimization.

New Locations Opened

In the second quarter of 2024, Mister Car Wash Inc. opened nine new greenfield locations, increasing the total number of car wash locations operated to 491 as of June 30, 2024. This represents a 9% increase from the 449 locations operated as of June 30, 2023.

Summarized from source with an LLMView Source

Key figures

7.07%1Y

-63.7%3Y

%5Y

Performance

46.3%1Y

47.1%3Y

47.9%5Y

Volatility