Mister Car Wash, Inc. ( (MCW) ) has released its Q4 earnings. Here is a breakdown of the information Mister Car Wash, Inc. presented to its investors.
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Mister Car Wash, Inc., headquartered in Tucson, Arizona, is the largest car wash brand in North America, known for its extensive subscription program and commitment to quality service and environmental responsibility. The company announced its financial results for the fourth quarter and full year of 2024, showcasing significant growth in revenues and operational expansion. In the fourth quarter of 2024, Mister Car Wash reported a 9% increase in net revenues, reaching $251.2 million, with comparable-store sales rising by 6%. The Unlimited Wash Club memberships increased by 2% year-over-year, contributing to 75% of total wash sales. The company also added 14 new locations, bringing the total to 514 car wash facilities. For the full year, net revenues rose 7% to $994.7 million, and adjusted EBITDA saw a 12% increase to $320.9 million. The company completed 21 sale-leaseback transactions, garnering $97.5 million in proceeds for the fourth quarter alone. Looking ahead, Mister Car Wash anticipates continued growth with projected net revenues between $1,038 million and $1,064 million for 2025 and plans to open 30 to 35 new locations. The company remains optimistic about its expansion strategies and market share gains while aiming to enhance shareholder value.
