By Katherine Hamilton
Mister Car Wash beat expectations for adjusted earnings and revenue in the fourth-quarter as subscription sales increased.
The car wash operator posted a profit of $9.2 million, or 3 cents a share, compared with $12.4 million, or 4 cents a share, a year earlier.
Stripping out certain one-time items, adjusted per-share earnings were 9 cents, ahead of the 7 cents forecast by analysts, according to FactSet.
Revenue rose 9% to $251.2 million. Analysts surveyed by FactSet forecast revenue of $248.5 million.
Mister Car Wash anticipates about $1.0 billion in revenue, and comparable-store sales growth of 1% to 3% for this year. That was slightly below analysts' expectations of $1.1 billion in revenue and an increase in same-store sales of 3.3% in 2025, according to FactSet.
The Tucson, Ariz., company, which offers an unlimited car wash subscription, said retail sales showed improvement despite challenging consumer demand and increased competition. Mister Car Wash added about 14,000 new members to its subscription service, which makes up 75% of all sales.
Comparable store sales increased 6% during the quarter. The company opened 14 new locations, the same number as the prior-year quarter, and had two closures. It expects to open 30 to 35 locations this year after opening 39 locations in 2024.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
February 19, 2025 16:56 ET (21:56 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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