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- Mister Car Wash Inc MCW reported third-quarter FY21 sales growth of 24.7% year-on-year, to $194.31 million, beating the analyst consensus of $188.16 million.
- Comparable store sales increased 21.3% versus last year and compounded two-year comparable stores sales rose 14.5% versus 3Q19.
- The company had 1.564 million Unlimited Wash Club (UWC) members as of September 30, 2021, a 31.5% rise Y/Y.
- Total costs and expenses rose 37.5% Y/Y to $154.8 million.
- The operating margin was 20.3%, and operating income for the quarter fell 8.6% to $39.5 million.
- The company held $162.2 million in cash and equivalents as of September 30, 2021. Net cash provided by operating activities for the nine months totaled $153.3 million.
- Adjusted EBITDA increased 43.9% Y/Y to $62.5 million.
- Adjusted EPS of $0.11 beat the analyst consensus of $0.10.
- Outlook: Mister Car Wash raised FY21 sales guidance to $751 million - $756 million (prior view ~$747 million), versus the consensus of $746.4 million.
- The company raised the lower end of FY21 adjusted EPS outlook to $0.40 - $0.44 (prior view $0.39 - $0.44) versus the consensus of $0.41.
- Price Action: MCW shares closed lower by 1.87% at $18.35 on Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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