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Dec 31, 2024
Mister Car Wash Q4 2024 Earnings Report
Mister Car Wash reported strong fourth-quarter results with record revenue and EBITDA growth.
Key Takeaways
Mister Car Wash saw a 9% increase in net revenues, reaching $251.2 million. Net income was $9.2 million, while adjusted net income was $30.7 million. The company expanded its footprint, adding 14 new locations. Comparable-store sales grew by 6.0%, and the Unlimited Wash Club (UWC) memberships continued to grow, contributing 75% of total wash sales.
Net revenue increased 9% year-over-year to $251.2 million.
Comparable-store sales grew 6.0% during the quarter.
Net income was $9.2 million, with adjusted net income of $30.7 million.
The company opened 14 new greenfield locations, bringing the total to 514.
Forward Guidance
Mister Car Wash expects moderate revenue growth in 2025, with continued expansion in new locations and UWC memberships. The company anticipates adjusted net income between $141 million and $149 million.
Positive Outlook
- Net revenue expected to reach between $1.038 billion and $1.064 billion.
- Comparable-store sales growth projected between 1.0% and 3.0%.
- Adjusted net income forecasted between $141 million and $149 million.
- Plans to open 30 to 35 new greenfield locations.
- Continued expansion of UWC memberships expected.
Challenges Ahead
- Interest expense projected at approximately $63 million.
- Rent expenses expected to rise to $123 million.
- Capital expenditures forecasted between $275 million and $305 million.
- Sale-leaseback transactions anticipated to drop to $40 million to $50 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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