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Dec 31, 2021
Mister Car Wash Q4 2021 Earnings Report
Mister Car Wash reported an increase in revenue and comparable store sales growth for Q4 2021.
Key Takeaways
Mister Car Wash announced strong financial results for the fourth quarter of 2021, with an 18.2% increase in net revenues, a 14.6% increase in comparable store sales, and the addition of 36 net new locations. The company also reported a 34.3% increase in Unlimited Wash Club memberships.
Net revenues increased by 18.2% to $191.5 million.
Comparable store sales increased by 14.6%.
The company added 36 net new locations.
UWC sales represented approximately 67.0% of total wash sales.
Mister Car Wash
Mister Car Wash
Forward Guidance
The Company’s outlook for the fiscal year ending December 31, 2022 compared to the actual results of fiscal 2021 is the following:
Positive Outlook
- Net revenues $875 to $895 million
- Comparable stores sales growth % 5.0% to 7.0%
- GAAP net income (loss) $139 to $149 million
- Adjusted net income $144 to $153 million
- Adjusted EBITDA $284 to $297 million
Challenges Ahead
- Adjusted net income per share, diluted $0.44 to $0.47
- Weighted average common shares outstanding, diluted, full year 329 million
- New greenfield locations Approx. 30
- Capital expenditures $285 to $315 million
- Sale leasebacks $140 to $150 million