Mister Car Wash reports Q2 EPS 9c, consensus 9c

Reports Q2 revenue $236.9M, consensus $241.8M. “We had a solid second quarter. Our Unlimited Wash subscription business remained strong and stable, comparable store sales returned to positive territory, operating margin improved sequentially from the first quarter, we generated $74 million in adjusted EBITDA and net income of $27 million, and we are pleased with the Titanium rollout and implementation process,” commented John Lai, Chairperson and CEO of Mister Car Wash. “Our foot is firmly on the pedal of greenfield expansion, as we opened 13 new stores year to date and remain comfortable with our full year target of approximately 35. Lastly, we continue to manage expenses and optimize investments in our facilities and our people. From our Manager in Training program to our close coverage in house facility maintenance team, to our new build install teams, to IT support, we’ve invested in human capital across the board knowing that in the end, we have a culture that values people, and our biggest competitive advantage is our team.”