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Mister Car Wash Announces Second Quarter 2025 Results
Mister Car WashMister Car Wash(US:MCW) Globenewswire·2025-07-30 20:05

Core Insights - The company reported a 4% increase in net revenues to $265.4 million for the second quarter of 2025, compared to $255.0 million in the same quarter of 2024 [8] - Comparable-store sales grew by 1.2% during the quarter, marking the ninth consecutive quarter of positive growth [3][8] - The Unlimited Wash Club® (UWC) memberships increased by 5% year-over-year, with over 2.2 million members as of June 30, 2025 [8][3] - The company opened 4 new greenfield locations, bringing the total to 522 locations, a 6% increase from 491 locations a year earlier [8][9] - The company revised its full-year 2025 outlook, expecting net revenues between $1,046 million and $1,054 million, down from a previous range of $1,046 million to $1,064 million [10] Financial Performance - For the second quarter of 2025, net income was $28.6 million, or $0.09 per diluted share, compared to $22.1 million, or $0.07 per diluted share in the second quarter of 2024 [8][28] - Adjusted net income for the quarter was $36.5 million, or $0.11 per diluted share [8][28] - Adjusted EBITDA decreased by 2% to $87.0 million from $88.7 million in the second quarter of 2024 [8][28] - For the first half of 2025, net revenues increased by 7% to $527.1 million, up from $494.2 million in the prior year [8] Membership and Sales Growth - UWC sales accounted for 76% of total wash sales in the second quarter of 2025, up from 72% in the same quarter of 2024 [8] - The company’s membership base grew by 102,000 members year-over-year, highlighting the effectiveness of its subscription model [8][3] Location Expansion - The company opened a total of 8 new greenfield locations in the first half of 2025 [8][9] - The total number of car wash locations operated reached 522 as of June 30, 2025 [8][9] Outlook and Guidance - The company expects comparable-store sales growth for the full year 2025 to be between 1.5% and 2.5% [10] - Adjusted EBITDA guidance for the year is revised to between $338 million and $342 million [10]