Mister Car Wash Q2 Earnings Smashes Estimates; Provides FY21 Guidance

Mister Car Wash Inc MCW reported second-quarter FY21 sales growth of 93.4% year-on-year, to $197.08 million, beating the analyst consensus of $193.20 million.
Comparable stores sales rose 93% versus last year. Compounded two-year comparable stores sales increased 22%.
Mister Car Wash had 1.5 million Unlimited Wash Club (UWC) members as of June 30, 2021, a 39% rise Y/Y.
The number of locations operated by the company was 351 as of June 30, 2021, versus 327 locations as of June 30, 2020.
The company incurred an operating loss of $(137.9) million compared to an operating income of $4.2 million.
Mister Car Wash held $158.3 million in cash and equivalents as of June 30, 2021.
Adjusted EBITDA increased 160% Y/Y to $73.1 million.
Adjusted EPS of $0.14 beat the analyst consensus of $0.09.
Outlook: Mister Car Wash sees FY21 revenue growth of about 30%.
The company expects FY21 adjusted EPS of $0.39 - $0.44.
Price Action: MCW shares closed higher by 1.10% at $20.19 on Thursday.

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