[Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section details the inherent risks and forward-looking nature of statements within the report, advising against undue reliance - This report contains forward-looking statements based on management's current beliefs and assumptions, which are subject to various risks and uncertainties. The company cautions readers not to place undue reliance on these statements and does not commit to updating them[12](index=12&type=chunk)[13](index=13&type=chunk)[14](index=14&type=chunk) [PART I - FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20-%20FINANCIAL%20INFORMATION) This part details unaudited financial statements, management's analysis, market risk, and internal controls [Financial Statements (Unaudited)](index=4&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) This section presents the unaudited consolidated financial statements for the three months ended March 31, 2025, compared to the same period in 2024. It includes the Statements of Operations, Cash Flows, Balance Sheets, and Stockholders' Equity, along with detailed notes. Key results show a 9.4% increase in net revenues and a 62.3% increase in net income year-over-year Consolidated Statements of Operations Highlights (Q1 2025 vs Q1 2024) | Metric | Q1 2025 (in thousands) | Q1 2024 (in thousands) | Change | | :--- | :--- | :--- | :--- | | **Net Revenues** | $261,656 | $239,183 | +9.4% | | **Operating Income** | $52,967 | $42,545 | +24.5% | | **Net Income** | $27,000 | $16,637 | +62.3% | | **Diluted EPS** | $0.08 | $0.05 | +60.0% | Consolidated Statements of Cash Flows Highlights (Q1 2025 vs Q1 2024) | Cash Flow Activity (in thousands) | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $87,550 | $57,990 | | **Net cash used in investing activities** | $(54,961) | $(76,944) | | **Net cash (used in) provided by financing activities** | $(60,913) | $10,652 | | **Net change in cash** | $(28,324) | $(8,302) | Consolidated Balance Sheet Highlights | Balance Sheet Item (in thousands) | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $39,133 | $67,463 | | **Total Assets** | $3,090,584 | $3,101,796 | | **Long-term debt, net** | $853,881 | $909,094 | | **Total Liabilities** | $2,056,689 | $2,103,444 | | **Total Stockholders' Equity** | $1,033,895 | $998,352 | - As of March 31, 2025, the company operated **518 car washes** in 21 states, primarily focusing on Express Exterior Locations[33](index=33&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=24&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management attributes the strong quarterly performance to growth in Unlimited Wash Club (UWC) members, increased retail traffic, and the addition of 36 new locations year-over-year. Comparable store sales grew 6.0%. The company highlights its focus on greenfield development and UWC membership growth as key strategies. Adjusted EBITDA increased to $85.6 million from $75.2 million in the prior year, with the margin expanding to 32.7% Key Performance Indicators (Q1 2025 vs Q1 2024) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | **Location count (end of period)** | 518 | 482 | | **Comparable store sales growth** | 6.0% | 0.9% | | **UWC Members (in thousands)** | 2,227 | 2,112 | | **UWC sales as a % of total wash sales** | 73% | 74% | | **Adjusted EBITDA (in thousands)** | $85,649 | $75,172 | | **Adjusted EBITDA margin** | 32.7% | 31.4% | - Net revenues increased by **9% ($22.5 million)** in Q1 2025 compared to Q1 2024, primarily due to UWC member growth, increased retail traffic, and the net addition of 36 locations[125](index=125&type=chunk) - Cost of labor and chemicals as a percentage of net revenues decreased from **30% to 28%** year-over-year, driven by labor optimization and lower chemical costs from new formulations and strategic partnerships[126](index=126&type=chunk) - General and administrative expenses decreased by **17% ($5.1 million)**, mainly due to prior year debt refinancing costs and fully amortized intangible assets[128](index=128&type=chunk) - The company believes its existing cash, cash from operations, and available credit will be sufficient to fund its growth strategy, operations, and capital expenditures for at least the next 12 months[136](index=136&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=31&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) The company reports that there have been no material changes in its exposure to market risk since the disclosures provided in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - There have been no material changes in the company's market risk exposure from the information provided in its 2024 Form 10-K[147](index=147&type=chunk) [Controls and Procedures](index=31&type=section&id=Item%204.%20Controls%20and%20Procedures) Management, including the CEO and CFO, evaluated the company's disclosure controls and procedures and concluded they were effective as of March 31, 2025. No material changes to internal control over financial reporting occurred during the quarter - Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025[148](index=148&type=chunk) - No changes in internal control over financial reporting occurred during Q1 2025 that have materially affected, or are reasonably likely to materially affect, the company's internal controls[149](index=149&type=chunk) [PART II - OTHER INFORMATION](index=32&type=section&id=PART%20II%20-%20OTHER%20INFORMATION) This part covers legal proceedings, risk factors, equity sales, other disclosures, and a list of filed exhibits [Legal Proceedings](index=32&type=section&id=Item%201.%20Legal%20Proceedings) The company states there have been no material changes to the legal proceedings previously described in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - No material changes to legal proceedings have occurred since the 2024 Form 10-K filing[151](index=151&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) The company reports no material changes to the risk factors previously disclosed in its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 - There have been no material changes to the risk factors described in the 2024 Form 10-K[152](index=152&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) The company reported no unregistered sales of equity securities during the period - None reported[153](index=153&type=chunk) [Other Information](index=32&type=section&id=Item%205.%20Other%20Information) This section discloses that on March 13, 2025, Joseph Matheny, the Chief Innovation Officer, entered into a Rule 10b5-1 trading plan for the potential sale of up to 371,520 shares of common stock - On March 13, 2025, Chief Innovation Officer Joseph Matheny entered into a Rule 10b5-1 trading plan for the potential sale of up to **371,520 shares** of common stock, effective until November 22, 2026[156](index=156&type=chunk) [Exhibits](index=33&type=section&id=Item%206.%20Exhibits) This section lists all exhibits filed with the Form 10-Q, including corporate governance documents, agreements, and required certifications by the Principal Executive Officer and Principal Financial Officer, as well as XBRL data files - The report includes certifications from the Principal Executive Officer and Principal Financial Officer (Exhibits 31.1, 31.2, 32.1, 32.2) and Inline XBRL documents[158](index=158&type=chunk)

Core Viewpoint - Mister Car Wash reported quarterly earnings of $0.11 per share, exceeding the Zacks Consensus Estimate of $0.10 per share, and showing an increase from $0.08 per share a year ago, indicating a 10% earnings surprise [1] - The company also posted revenues of $261.66 million for the quarter, surpassing the Zacks Consensus Estimate by 1.65% and up from $239.18 million year-over-year [2] Financial Performance - Over the last four quarters, Mister Car Wash has consistently surpassed consensus EPS estimates, achieving this four times [2] - The company has topped consensus revenue estimates three times in the same period [2] - The current consensus EPS estimate for the upcoming quarter is $0.13, with projected revenues of $271.58 million, and for the current fiscal year, the EPS estimate is $0.44 on revenues of $1.06 billion [7] Market Position - Mister Car Wash shares have declined approximately 3.4% since the beginning of the year, while the S&P 500 has seen a decline of 5.5% [3] - The Automotive - Replacement Parts industry, to which Mister Car Wash belongs, is currently ranked in the top 23% of over 250 Zacks industries, indicating a favorable industry outlook [8] Future Outlook - The sustainability of the stock's price movement will largely depend on management's commentary during the earnings call and the trends in earnings estimate revisions [3][4] - The current Zacks Rank for Mister Car Wash is 3 (Hold), suggesting that the shares are expected to perform in line with the market in the near future [6]

Financial Data and Key Metrics Changes - The company reported a strong comp store sales growth of 6% and record revenues, with adjusted EBITDA increasing by 914% [5][13] - Net revenues increased by 9%, driven by a combination of 6% comparable store sales growth and revenue from new store openings [17] - Adjusted EBITDA grew by 14% to $86 million, with an EBITDA margin increase of 130 basis points to 32.7% [20] Business Line Data and Key Metrics Changes - The subscription business (UWC) represented 73% of total wash sales, with UWC membership increasing by approximately 5% year over year [17][18] - Titanium membership accounted for 23% of the membership mix, contributing to a roughly 6% increase in Express revenue per member during Q1 [15][18] Market Data and Key Metrics Changes - The competitive landscape has seen a decrease in new competitor builds within a three-mile radius, with only seven new competitors in Q1 2025 compared to 30 in Q1 2023 [49][50] - The company is well-positioned to capitalize on the market rationalization as competitors reevaluate their growth trajectories [51] Company Strategy and Development Direction - The company is focused on four strategic pillars: expanding footprint, increasing innovative solutions, driving traffic and growing membership, and building a best-in-class team [7][10][11] - Plans to open 30 to 35 new stores in 2025, with a data-driven approach to site selection [7][8] - The company aims to double its store count in the U.S. over time and will consider M&A opportunities when strategically beneficial [8] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver positive results despite a somewhat uncertain macro environment [11][22] - The company anticipates a cautious consumer backdrop but remains optimistic about its business health and positioning in the marketplace [22][23] Other Important Information - The company paid down approximately $62 million of debt during the quarter, improving its net leverage ratio to just under 2.5 times adjusted EBITDA by year-end [16][21] - A price increase of $3 on the base UWC program was implemented, affecting approximately 40% of membership tiers [9][40] Q&A Session Summary Question: Follow-up on comp guidance and consumer outlook - Management acknowledged the cautious environment and indicated that while they are confident in the business, they are preparing for potential consumer pullbacks [30][31] Question: UWC member growth acceleration - The increase in UWC member growth was attributed to higher retail traffic and effective conversion strategies [38] Question: Competitive environment and inflection point - Management noted that while demand for express car wash services continues to grow, they must focus on delivering exceptional customer experiences to retain customers [48][49] Question: Retail revenue expectations and membership growth - Management expects positive low single-digit comp store member growth, with churn levels remaining consistent despite the recent price increase [66][68] Question: Impact of tariffs on equipment costs - Management confirmed that they have multi-year agreements with suppliers to hedge against inflationary pressures, minimizing potential impacts on new builds [58] Question: Marketing spend and effectiveness - The company is testing marketing strategies across six markets and aims for a three-to-one return on ad spend, with plans to increase marketing investments as data supports effectiveness [60][89]

Financial Data and Key Metrics Changes - The company reported a strong comp store sales growth of 6% and record revenues, with adjusted EBITDA increasing by 914% [4][12] - Net revenues increased by 9%, driven by a combination of 6% comparable store sales growth and revenue from new store openings [17] - Adjusted EBITDA grew by 14% to $86 million, with an EBITDA margin increase of 130 basis points to 32.7% [20] Business Line Data and Key Metrics Changes - The subscription business (UWC) represented 73% of total wash sales, with UWC membership increasing by approximately 5% year over year [17][18] - Titanium membership accounted for 23% of the membership mix, contributing to a 6% increase in Express revenue per member during Q1 [14][18] Market Data and Key Metrics Changes - The competitive landscape has seen a decrease in new competitor builds within a three-mile radius, with only seven new competitors in Q1 2025 compared to 30 in Q1 2023 [5][50] - The company is well-positioned to capitalize on the market rationalization and has a strong foundation to extend its leadership position [5] Company Strategy and Development Direction - The company is focused on four strategic pillars: expanding footprint, increasing innovative solutions, driving traffic and growing membership, and building a best-in-class team [6][10] - Plans to open 30 to 35 new stores in 2025, with a data-driven approach to site selection for higher ROI [6][7] - The company is implementing a $3 price increase in most markets for its base UWC program, aligning with competitors [8][9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to deliver positive results despite a somewhat uncertain macro environment [10][11] - The company anticipates a cautious consumer backdrop but remains optimistic about its business momentum and positioning [22][23] Other Important Information - The company paid down approximately $62 million of debt during the quarter, improving its net leverage ratio to just under 2.5 times adjusted EBITDA by year-end [15][21] - Total operating expenses decreased as a percentage of revenue, indicating effective expense management [18] Q&A Session Summary Question: Follow-up on comp guidance and consumer outlook - Management acknowledged the challenges posed by the current environment but maintained confidence in the business, noting that comp store member growth is expected to remain positive [30][31] Question: UWC member growth acceleration - The increase in UWC member growth was attributed to higher retail traffic and effective conversion strategies [38] Question: Competitive environment and market dynamics - Management noted that competitive intrusion has peaked and expressed optimism about the company's ability to rebound from initial impacts of new competitors [48][50] Question: Price increase impact on membership - Management indicated that the price increase is modest and that the value proposition remains strong, with expectations of minimal churn [80][66] Question: Marketing strategy and effectiveness - The company is testing marketing strategies across six markets and aims for a three-to-one return on ad spend, with plans to scale successful initiatives [86][88] Question: Greenfield expansion and material availability - Management reported no significant early indicators of material shortages affecting expansion plans, although some pressure on specific materials was noted [69]

Financial Data and Key Metrics Changes - The company reported a strong comp store sales growth of 6% and record revenues, with adjusted EBITDA increasing by 914% [5][13] - Net revenues increased by 9%, driven by a combination of 6% comparable store sales growth and contributions from new store openings [18][21] - Adjusted EBITDA grew by 14% to $86 million, with an EBITDA margin increase of 130 basis points to 32.7% [21][19] Business Line Data and Key Metrics Changes - The subscription business (UWC) represented 73% of total wash sales, with UWC membership increasing by approximately 5% year over year [18][19] - Titanium membership accounted for 23% of the membership mix, contributing to a 6% increase in Express revenue per member during Q1 [15][19] - The average Express revenue per member increased to $28.78, driven primarily by the success of the Titanium membership tier [19] Market Data and Key Metrics Changes - The competitive environment has seen a decrease in new competitor builds within a three-mile radius, with only seven new competitors in Q1 2025 compared to 30 in Q1 2023 [52][6] - The company noted a steady demand for express car wash services, indicating resilience in its service offering despite increased competition [50][51] Company Strategy and Development Direction - The company is focused on four strategic pillars: expanding its footprint, increasing innovative solutions, driving traffic and growing membership, and building a best-in-class team [7][11] - Plans to open 30 to 35 new stores in 2025, with a data-driven approach to site selection aimed at maximizing ROI [7][8] - The company is also pursuing price increases on its base membership to align with competitors and enhance revenue [9][45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to navigate a somewhat uncertain macro environment, citing the resilience of the subscription model [12][24] - The company anticipates a cautious consumer backdrop but remains optimistic about its positioning in the marketplace [24][25] - Management highlighted the importance of delivering exceptional customer experiences to retain and grow its member base [51][80] Other Important Information - The company paid down approximately $62 million of debt during the quarter, maintaining a strong cash position [16][23] - Total operating expenses decreased as a percentage of revenue, reflecting effective expense management [19][20] Q&A Session Summary Question: Can you elaborate on the comp guidance? - Management indicated that while they are pleased with the current performance, they are cautious about the consumer environment and have adjusted guidance accordingly [30][33] Question: What factors contributed to the UWC member growth? - The increase in retail traffic directly correlated with the growth in UWC membership, demonstrating effective conversion strategies [40][41] Question: How does the company view the competitive landscape? - Management noted a peak in competitive intrusion in 2023, with fewer new competitors entering the market, which positions the company favorably [52][54] Question: What is the impact of the recent price increase on churn? - Management expects a slight uptick in churn due to the price increase but anticipates it will stabilize after a month [70][71] Question: How does the company plan to measure the effectiveness of marketing investments? - The company is using traditional return on advertising spend metrics while also considering the long-term value of new members [89][90]

[Mister Car Wash First Quarter 2025 Results](index=1&type=section&id=Mister%20Car%20Wash%20Announces%20First%20Quarter%202025%20Results) [First Quarter 2025 Financial and Operational Highlights](index=1&type=section&id=First%20Quarter%202025%20Highlights) Mister Car Wash reported strong Q1 2025 results, with net revenues up 9% and Adjusted EBITDA increasing 14% Q1 2025 Key Financial Metrics vs. Q1 2024 | Metric | Q1 2025 | Q1 2024 | Change | | :--- | :--- | :--- | :--- | | Net Revenues | $261.7 million | $239.2 million | +9% | | Comparable-Store Sales Growth | 6.0% | N/A | N/A | | Net Income | $27.0 million | $16.6 million | +62% | | Adjusted EBITDA | $85.6 million | $75.2 million | +14% | | Diluted EPS | $0.08 | $0.05 | +60% | | Adjusted Diluted EPS | $0.11 | $0.08 | +37.5% | - Opened **4 new greenfield locations** in Q1 2025, reaching a total of **518 locations**, a **7% increase** from 482 locations in Q1 2024[1](index=1&type=chunk)[5](index=5&type=chunk)[6](index=6&type=chunk) - Unlimited Wash Club® (UWC) memberships grew by **5% year-over-year**, adding a net of **103,000 members** in the quarter to reach **over 2.2 million total members**[1](index=1&type=chunk)[6](index=6&type=chunk) - UWC sales constituted **73% of total wash sales**, a slight decrease from **74%** in the first quarter of 2024[6](index=6&type=chunk) [2025 Full Year Outlook](index=2&type=section&id=2025%20Outlook) The company updated its full-year 2025 guidance, raising the lower end for net revenues and Adjusted EBITDA Updated Full-Year 2025 Guidance | Metric | Current Guidance | Previous Guidance | | :--- | :--- | :--- | | Net Revenues | $1,046 to $1,064 million | $1,038 to $1,064 million | | Comparable-Store Sales Growth | 1.5% to 3.0% | 1.0% to 3.0% | | Adjusted EBITDA | $338 to $346 million | $334 to $346 million | | Adjusted Net Income (new def.) | $140 to $147 million | N/A | | Adjusted Net Income per Share (new def.) | $0.42 to $0.44 | N/A | | New Greenfield Locations | 30 to 35 | 30 to 35 | | Capital Expenditures | $275 to $305 million | $275 to $305 million | - The company introduced guidance based on a **new 2025 definition** for adjusted net income and adjusted net income per diluted share, which **no longer excludes non-cash rent expense**[7](index=7&type=chunk)[15](index=15&type=chunk) [Financial Condition and Cash Flow](index=2&type=section&id=Balance%20Sheet%20and%20Cash%20Flow%20Highlights) Cash and cash equivalents decreased to $39.1 million, while operating cash flow significantly increased to $87.6 million - Cash and cash equivalents totaled **$39.1 million** as of March 31, 2025, down from **$67.5 million** as of December 31, 2024[11](index=11&type=chunk)[30](index=30&type=chunk) - Net cash provided by operating activities increased to **$87.6 million** in Q1 2025 from **$58.0 million** in Q1 2024[11](index=11&type=chunk)[28](index=28&type=chunk) - Rent expense increased by **12%** to **$29.8 million** compared to Q1 2024, driven by an increase in leased locations from **435 to 474**[11](index=11&type=chunk) - Total liabilities decreased slightly to **$2.06 billion** from **$2.10 billion** at the end of 2024, primarily due to a reduction in long-term debt[30](index=30&type=chunk) [Consolidated Financial Statements](index=6&type=section&id=Consolidated%20Financial%20Statements) This section presents the company's detailed financial performance, position, and cash flows for the first quarter of 2025 [Consolidated Statements of Operations](index=6&type=section&id=Consolidated%20Statements%20of%20Operations) Net revenues grew 9% to $261.7 million, leading to increased operating income and net income for Q1 2025 Q1 2025 Statement of Operations (in thousands) | Account | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net revenues | $261,656 | $239,183 | | Total costs and expenses | $208,689 | $196,638 | | Operating income | $52,967 | $42,545 | | Interest expense, net | $16,023 | $20,024 | | Income before taxes | $36,944 | $25,828 | | Net income | $27,000 | $16,637 | | Diluted EPS | $0.08 | $0.05 | [Consolidated Balance Sheets](index=9&type=section&id=Consolidated%20Balance%20Sheets) Total assets slightly decreased to $3.09 billion, while total liabilities decreased to $2.06 billion, increasing stockholders' equity Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $39,133 | $67,463 | | Total current assets | $65,714 | $99,090 | | Property and equipment, net | $843,704 | $814,600 | | Total assets | $3,090,584 | $3,101,796 | | Long-term debt, net | $853,881 | $909,094 | | Total liabilities | $2,056,689 | $2,103,444 | | Total stockholders' equity | $1,033,895 | $998,352 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly increased to $87.6 million, offsetting cash used in investing and financing activities Cash Flow Summary (in thousands) | Category | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net cash provided by operating activities | $87,550 | $57,990 | | Net cash used in investing activities | ($54,961) | ($76,944) | | Net cash provided by (used in) financing activities | ($60,913) | $10,652 | | Net change in cash | ($28,324) | ($8,302) | [GAAP to Non-GAAP Reconciliations](index=10&type=section&id=GAAP%20to%20Non-GAAP%20Reconciliations) This section reconciles GAAP net income to non-GAAP measures, including Adjusted EBITDA and Adjusted Net Income under a new 2025 definition Reconciliation of Net Income to Adjusted EBITDA (in thousands) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $27,000 | $16,637 | | Interest expense, net | $16,023 | $20,024 | | Income tax provision | $9,944 | $9,191 | | Depreciation and amortization | $20,917 | $19,595 | | Stock-based compensation | $7,116 | $6,802 | | Other adjustments | $4,649 | $(1,147) | | **Adjusted EBITDA** | **$85,649** | **$75,172** | - Beginning in fiscal 2025, the company **no longer includes non-cash rent expense** in its calculation of adjusted net income and adjusted net income per diluted share, which **impacts comparability to prior periods**[15](index=15&type=chunk)[32](index=32&type=chunk) Reconciliation of Net Income to Adjusted Net Income (in thousands) | Description | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Net income | $27,000 | $16,637 | | Adjustments (as per old def.) | $9,561 | $9,950 | | Adjusted net income (old def.) | $36,561 | $26,587 | | Non-cash rent expense adjustment | ($1,966) | ($1,487) | | Tax impact of adjustment | $454 | $347 | | **Adjusted net income (new def.)** | **$35,049** | **$25,447** |

Core Viewpoint - Mister Car Wash (MCW) has received a Zacks Rank 2 (Buy) upgrade, indicating a positive outlook based on rising earnings estimates, which significantly influence stock prices [1][3]. Earnings Estimates and Stock Price Impact - The Zacks rating system emphasizes the importance of earnings estimate revisions, which are strongly correlated with near-term stock price movements [4][6]. - For Mister Car Wash, the recent upgrade reflects an improvement in the company's underlying business, suggesting that investor sentiment may drive the stock price higher [5][10]. Earnings Estimate Revisions - Mister Car Wash is projected to earn $0.44 per share for the fiscal year ending December 2025, marking an 18.9% year-over-year increase [8]. - Over the past three months, the Zacks Consensus Estimate for Mister Car Wash has risen by 14.1%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system categorizes stocks based on earnings estimates, with only the top 20% of stocks receiving a 'Strong Buy' or 'Buy' rating, highlighting their potential for market-beating returns [9][10]. - The upgrade of Mister Car Wash to a Zacks Rank 2 places it in the top 20% of Zacks-covered stocks, suggesting favorable conditions for price appreciation in the near term [10].

Group 1 - Mister Car Wash (MCW) shows a noticeable improvement in earnings outlook, making it an attractive investment option [1][7] - Analysts are increasingly optimistic about the earnings prospects of Mister Car Wash, leading to higher earnings estimates which are expected to positively impact the stock price [2][6] - The Zacks Rank system indicates strong agreement among analysts in raising earnings estimates, with a significant increase in consensus estimates for both the current quarter and the full year [3][5] Group 2 - For the current quarter, Mister Car Wash is expected to earn $0.10 per share, reflecting a 25% increase from the previous year [4] - The full-year earnings estimate is projected at $0.44 per share, representing an 18.92% year-over-year change, with a positive revision trend observed [5] - Mister Car Wash currently holds a Zacks Rank 2 (Buy), indicating strong potential for outperformance compared to the S&P 500 [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From ___to___ Commission File Number 001-40542 Mister Car Wash, Inc. (Exact name of Registrant as specified in its Charter) (State or other jurisdiction of incorporation or organi ...

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