From a technical perspective, Mister Car Wash, Inc. (MCW) is looking like an interesting pick, as it just reached a key level of support. MCW's 50-day simple moving average crossed above its 200-day simple moving average, which is known as a "golden cross" in the trading world.A golden cross is a technical chart pattern that can signify a potential bullish breakout. It's formed from a crossover involving a security's short-term moving average breaking above a longer-term moving average, with the most common ...

Mister Car Wash (MCW) closed the last trading session at $7.72, gaining 22.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $9.65 indicates a 25% upside potential.The average comprises 14 short-term price targets ranging from a low of $6 to a high of $12, with a standard deviation of $1.59. While the lowest estimate indicates a decline of 22.3% from the current price level, the m ...

A downtrend has been apparent in Mister Car Wash (MCW) lately. While the stock has lost 6.8% over the past week, it could witness a trend reversal as a hammer chart pattern was formed in its last trading session. This could mean that the bulls have been able to counteract the bears to help the stock find support.While the formation of a hammer pattern is a technical indication of nearing a bottom with potential exhaustion of selling pressure, rising optimism among Wall Street analysts about the future earni ...

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 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 (MCW) reported $249.33 million in revenue for the quarter ended September 2024, representing a year-over-year increase of 6.5%. EPS of $0.09 for the same period compares to $0.08 a year ago. The reported revenue compares to the Zacks Consensus Estimate of $248.77 million, representing a surprise of +0.23%. The company delivered an EPS surprise of +12.50%, with the consensus EPS estimate being $0.08. While investors closely watch year-over-year changes in headline numbers -- revenue and earni ...

Mister Car Wash (MCW) came out with quarterly earnings of $0.09 per share, beating the Zacks Consensus Estimate of $0.08 per share. This compares to earnings of $0.08 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 12.50%. A quarter ago, it was expected that this car wash operator would post earnings of $0.09 per share when it actually produced earnings of $0.11, delivering a surprise of 22.22%. Over the last four quarters, t ...

Growth and Expansion - As of June 30, 2024, Mister Car Wash operates 491 locations, an increase from 449 locations as of June 30, 2023, representing a growth of approximately 9.4%[78] - In the first half of 2024, Mister Car Wash opened 15 greenfield locations, contributing to its growth strategy focused on expanding Express Exterior Locations[76] - The company added 42 new locations year-over-year, contributing to the growth in car wash sales and UWC membership[84] Financial Performance - Net income for the three months ended June 30, 2024, was $22.1 million, down from $27.1 million in the same period of 2023, resulting in a net income margin of 8.7%[80] - Adjusted EBITDA for the three months ended June 30, 2024, was $88.7 million, compared to $73.9 million for the same period in 2023, with an adjusted EBITDA margin of 34.8%[80] - Net revenues for the three months ended June 30, 2024, were $255,043, an increase of 8% compared to $236,894 for the same period in 2023[85] - For the six months ended June 30, 2024, net revenues were $494,226, an increase of 7% from $462,854 in the same period of 2023[93] - The company reported a net income of $22,091 for the three months ended June 30, 2024, down from $27,132 in the prior year, reflecting a net income margin of 9%[84] Membership and Sales - The number of Unlimited Wash Club (UWC) Members reached approximately 2.1 million as of June 30, 2024, reflecting a growth of about 3% from the previous year[81] - UWC sales accounted for 72% of total wash sales for the three months ended June 30, 2024, up from 69% in the same period of 2023[82] - UWC sales as a percentage of total wash sales for the six months ended June 30, 2024, were 73%, compared to 69% for the same period in 2023, indicating a growing penetration of the subscription model[82] Operating Costs and Expenses - Store operating costs for the three months ended June 30, 2024, included labor and chemical costs of $72,691, representing 29% of net revenues, a slight decrease from 30% in the prior year[86] - Other store operating expenses increased by 10% to $99,543, accounting for 39% of net revenues, driven by inflationary pressures and the addition of new locations[87] - General and administrative expenses decreased by 10% to $24,912, representing 10% of net revenues, primarily due to reduced marketing and corporate travel expenses[88] - Total costs and expenses for the three months ended June 30, 2024, were $200,043, maintaining a consistent 78% of net revenues compared to the previous year[89] Tax and Other Financial Impacts - The income tax provision for the three months ended June 30, 2024, was $12,655, a 76% increase from $7,205 in the prior year, reflecting unfavorable tax impacts from equity awards[90] - The income tax provision increased by 57% to $21.846 million for the six months ended June 30, 2024, primarily due to unfavorable income tax impacts from equity awards[98] Cash Flow and Liquidity - For the six months ended June 30, 2024, net cash provided by operating activities was $118.9 million, compared to $117.1 million for the same period in 2023, reflecting a year-over-year increase of $1.8 million[101] - Cash and cash equivalents decreased from $19.0 million as of December 31, 2023, to $3.6 million as of June 30, 2024, indicating a significant reduction in liquidity[99] - The company had $291.7 million of available borrowing capacity under its Revolving Commitment as of June 30, 2024[99] Debt and Interest Expenses - Total other expense, net increased by 3% to $36.971 million for the six months ended June 30, 2024, driven by increased interest expense of approximately $4.2 million due to higher long-term debt and interest rates[97] - General and administrative expenses rose by 5% to $54.622 million for the six months ended June 30, 2024, primarily due to $4.2 million in third-party costs related to debt refinancing[96] - As of June 30, 2024, the company had $925.0 million of variable rate debt outstanding, with a potential interest expense fluctuation of approximately $9 million for a 100 basis point change in interest rates[110]

Financial Data and Key Metrics Changes - Sales increased by 8% to $255 million in Q2 2024, with comparable store sales rising by 2.4% [4][15] - Adjusted EBITDA rose by 20% to $89 million, with the adjusted EBITDA margin increasing by 360 basis points to nearly 35% [4][16] - Adjusted net income was $37 million, translating to adjusted net income per diluted share of $0.11 [15] Business Line Data and Key Metrics Changes - The subscription business remained resilient, with the Titanium membership adoption at 20% of the member base, equating to over 400,000 members [4][13] - UWC sales accounted for 72% of total wash sales, with a net addition of 15,000 UWC members in the quarter [15] - Average Express revenue per member increased to $28.14 from $25.87 year-over-year [15] Market Data and Key Metrics Changes - Retail transactions continued to face downward pressure, with retail sales down in low double digits, although this was an improvement compared to Q1 [21][14] - The company experienced delays in new store openings, impacting revenue expectations for the year [14][53] Company Strategy and Development Direction - The company plans to continue investing in people, technology, and stores while maintaining tight control over expenses [8] - A focus on upgrading existing members to premium programs, specifically Titanium and Platinum, is prioritized [23] - The marketing strategy aims to broaden reach and drive customer acquisition through targeted campaigns [8][47] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential for retail traffic recovery, although timing remains uncertain [57] - The company anticipates that the competitive landscape will ease as fewer new units are expected in the market [57] - Guidance for full-year revenue is expected to be at the low end of the range due to store closures from Hurricane Beryl and delayed openings [18] Other Important Information - The company completed three sale-leaseback transactions for $14 million during the quarter [17] - Employee engagement survey results indicated that 85% of team members recommend the company as a great place to work [10] Q&A Session Summary Question: Retail transaction pressure and improving trends - Management confirmed that retail sales declines moderated compared to Q1, with higher average ticket prices contributing positively [21] Question: UWC member accounts in mature locations - Management noted that while new member growth has been modest, existing members are being upgraded to premium programs [23] Question: Titanium membership penetration - Titanium membership remained steady at 20%, with most members now paying full price, contributing to increased revenue per member [25] Question: Retail traffic and marketing spend - Management indicated that retail traffic growth is essential for overall membership growth, and they are focusing on targeted marketing strategies [29][47] Question: Future pricing strategy for base membership - Management acknowledged the potential for future price increases but emphasized the importance of maintaining value for customers [54] Question: Correlation between retail traffic and market share - Management stated that while there is no direct correlation, higher market share does lead to elevated average unit volumes [46]

Mister Car Wash (MCW) reported $255.04 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 7.7%. EPS of $0.11 for the same period compares to $0.09 a year ago. The reported revenue represents a surprise of -0.63% over the Zacks Consensus Estimate of $256.65 million. With the consensus EPS estimate being $0.09, the EPS surprise was +22.22%. While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to det ...