Shares of Mister Car Wash, Inc. (MCW) soared by 8.55% during the pre-market trading session on Thursday, following the company's impressive fourth-quarter 2024 earnings report and strategic growth plans unveiled during the earnings call.
The car wash operator reported robust financial results for Q4 2024, with a 6% increase in same-store sales, marking the seventh consecutive quarter of comparable store sales growth. For the full year 2024, the company achieved record revenue growth of 7% and a 12% increase in adjusted EBITDA.
Mister Car Wash's expansion efforts also gained momentum, with the company surpassing the 500-store milestone by opening 40 new locations in 2024. Furthermore, the introduction of the premium Titanium service exceeded expectations, contributing to a 23% penetration rate among Unlimited Wash Club (UWC) members.
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