NASDAQ$MCW
Mister Car Wash Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Mister Car Wash's financial performance remained solid, marked by revenue growth and UWC membership increases.
Mister Car Wash reported a 7.6% increase in net revenues to $234.1 million. Comparable store sales increased by 1.7%, and UWC membership grew by 11.3% to approximately 2.1 million members. Net income was reported at $19.5 million, or $0.06 per diluted share, while adjusted net income was $25.5 million, or $0.08 per diluted share.
- Net revenues increased by 7.6% to $234.1 million.
- Comparable store sales saw a 1.7% increase.
- UWC membership increased by 11.3% year-over-year, reaching approximately 2.1 million members.
- The company opened eight new greenfield locations and acquired five locations, bringing the total to 462 car wash locations.
Headline financials
Revenue & EPS history
Mister Car Wash · Revenue · Quarterly
$234M
Forward guidance
Mister Car Wash is reiterating its outlook for all financial projections for the fiscal year ending December 31, 2023, with the exception of capital expenditures.
Tailwinds
- Net revenues are expected to be between $913 to $936 million.
- Comparable stores sales growth is projected at -1.0% to 1.0%.
- Adjusted net income is anticipated to be $94 to $103 million.
- Adjusted EBITDA is forecasted to be $270 to $283 million.
- Approximately 35 new greenfield locations are planned.
Headwinds
- Interest expense, net is expected to be $75 million.
- Rent expense, net is approximated at $100 million.
- Weighted average common shares outstanding, diluted, full year is expected to be 330 million.
- Sale leasebacks are projected to be $110 to $130 million.
- Capital expenditures are expected to be $312 to $335 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q3 2023
+1.5%
Avg return
Earnings day
+1.4%
Avg return
5 days after
+0.2%
Avg return
30 days after
48%
11 / 23 earnings
Positive
+26.1%
Q3 2023
Best reaction
-15.0%
Q2 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -0.1% | -0.4% | — | |
| Q4 2025 | +16.5% | +16.3% | +15.8% | |
| Q3 2025 | +8.4% | +5.2% | +2.7% | |
| Q2 2025 | -5.9% | -8.6% | -7.0% | |
| Q1 2025 | +9.2% | +9.8% | +3.2% | |
| Q4 2024 | -1.6% | -0.9% | +6.6% | |
| Q3 2024 | +15.9% | +22.5% | +23.5% | |
| Q2 2024 | -4.6% | -10.8% | -15.2% | |
| Q1 2024 | +4.3% | +14.2% | +5.1% | |
| Q1 2021 | -1.2% | +5.5% | -2.8% | |
| Q4 2023 | -13.4% | -14.4% | -15.9% | |
| Q3 2023 | +26.1% | +26.5% | +54.6% | |
| Q2 2023 | -15.0% | -19.5% | -17.5% | |
| Q1 2023 | +0.7% | +2.9% | -6.7% | |
| Q4 2022 | +4.0% | +2.0% | -7.7% | |
| Q3 2022 | +21.9% | +14.9% | +13.4% | |
| Q2 2022 | -11.6% | -6.1% | -13.3% | |
| Q1 2022 | -6.8% | -3.4% | -2.2% | |
| Q4 2021 | +0.6% | -0.3% | -7.5% | |
| Q3 2020 | +2.1% | -4.6% | -1.4% | |
| Q3 2021 | -5.0% | -3.0% | -4.9% | |
| Q4 2020 | -8.9% | -6.1% | -9.5% | |
| Q2 2021 | -1.7% | -9.3% | -8.5% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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