Business
Mister Car Wash Announces First Quarter 2025 Results
Net revenues increased 9% Comparable-store sales increased 6.0% Unlimited Wash Club® (“UWC”) memberships increased 5% year-over-year Opened 4 new greenfield
About this update from Mister Car Wash, Inc.
[{"type":"text","content":"\nNet revenues increased 9%\n\nComparable-store sales increased 6.0%\n\nUnlimited Wash Club® (“UWC”) memberships increased 5% year-over-year\n\nOpened 4 new greenfield locations\n\nCompany raises low end of guidance\n\n TUCSON, Ariz.--(BUSINESS WIRE)--\nMister Car Wash, Inc. (the “Company”) (Nasdaq: MCW), the nation’s largest car wash brand, today announced its financial results for the quarter ended March 31, 2025.\n\n“I am proud of our team for building on last year's momentum and delivering a solid start to 2025. Record first quarter revenue and EBITDA exceeded our expectations, reflecting our team's unwavering dedication and strategic execution. Our performance was highlighted by strong comp store sales growth driven by an acceleration in our retail business, coupled with the ongoing strength of our UWC subscription business,” commented John Lai, Chairperson and CEO of Mister Car Wash. “These results underscore our commitment to innovation, operational excellence, and generating value for our shareholders. Moving forward, I remain confident in our ability to drive growth and build upon our foundation as the premier car wash player in the industry.”\n\nFirst Quarter 2025 Highlights:\n\n\nNet revenues increased 9% to $261.7 million, up from $239.2 million in the first quarter of 2024.\n\n\nComparable-store sales increased 6.0% during the quarter.\n\n\nUWC sales represented 73% of total wash sales compared to 74% in the first quarter of 2024.\n\n\nAdded approximately 103 thousand net new UWC members in the first quarter and had over 2.2 million members as of March 31, 2025.\n\n\nOpened 4 new greenfield locations, bringing the total net number of car wash locations operated to 518 as of March 31, 2025, an increase of 7% compared to 482 car wash locations as of March 31, 2024.\n\n\nNet income and net income per diluted share were $27.0 million and $0.08, respectively.\n\n\nAdjusted net income(1) and adjusted net income per diluted share(1) were $35.0 million and $0.11, respectively.\n\n\nAdjusted EBITDA(1) increased 14% to $85.6 million from $75.2 million in the first quarter of 2024.\n\n\n(1) Adjusted net income, adjusted EBITDA and adjusted net income per diluted share are non-GAAP financial measures. Beginning in 2025, the Company made certain changes to how it defines adjusted net income and adjusted net income per diluted sh...