Business
Mister Car Wash Announces Fourth Quarter and Fiscal 2021 Financial Results
Net revenues increased 18.2% in Q4 and 31.9% in 2021 Comparable store sales increased 14.6% in Q4 and 31.7% in 2021 Unlimited Wash Club memberships increased
About this update from Mister Car Wash, Inc.
[{"type":"text","content":"\nNet revenues increased 18.2% in Q4 and 31.9% in 2021\n\nComparable store sales increased 14.6% in Q4 and 31.7% in 2021\n\nUnlimited Wash Club memberships increased 34.3% in 2021\n\nAdded 36 net new locations in Q4 and 54 new locations in 2021\n\nProvides Fiscal 2022 Outlook\n\n TUCSON, Ariz.--(BUSINESS WIRE)--\nMister Car Wash, Inc. (the “Company”) (NYSE: MCW), the nation’s largest car wash brand, today announced its financial results for the quarter and year ended December 31, 2021.\n\n“We are pleased with the way we closed 2021 and the strong start we are seeing in 2022. Demand for our services remains healthy as more motorists value the convenience of professional car washing and the ease of being an Unlimited Wash Club member,” commented John Lai, Chairperson and CEO of Mister Car Wash. “As we continue to add more units through greenfields and acquisitions, we remain focused on investing in our team members and developing our future generation of leaders. Our people first culture and unwavering commitment to operational excellence creates our amazing customer experience. 2021 was an extraordinary year for Mister Car Wash, and I thank our team members for their passion and commitment to our customers and our business.”\n\nHighlights for the Fourth Quarter 2021\n\n\nNet revenues increased 18.2% to $191.5 million for the fourth quarter of 2021 from $162.0 million in the fourth quarter of 2020 and increased 21.0% from the fourth quarter of 2019.\n\n\nExcluding $4.9 million of oil change revenue that was included in net revenues in the fourth quarter of 2020 and was generated from the Company’s quick lube facilities divested in December 2020, net revenues increased 21.8%.\n\n\n\n\nComparable stores sales increased 14.6% for the fourth quarter of 2021 compared to the fourth quarter of 2020.\n\n\nCompounded two-year comparable stores sales*, increased 17.6% from the fourth quarter of 2019.\n\n\n\n\nAs of December 31, 2021, the Company had 1.656 million UWC members, which represented a 34.3% increase over the prior year period. UWC sales represented approximately 67.0% of total wash sales in the fourth quarter of 2021 compared to 65.4% in the fourth quarter of 2020.\n\n\nThe Company added 36 net new car wash locations in the fourth quarter of 2021 and operated a total of 396 car wash locations as of December 31, 2021, compared to ...