Mister Car Wash CFO sells shares worth $451,466

TUCSON, AZ— Mister Car Wash , Inc. (NYSE:MCW), a company currently valued at $2.74 billion with its stock trading near its 52-week high of $8.60, saw its Chief Financial Officer Jedidiah Marc Gold recently execute a series of stock transactions, according to a filing with the Securities and Exchange Commission. On March 25, Gold sold 52,989 shares of Mister Car Wash’s common stock at a weighted average price ranging from $8.50 to $8.55 per share, amounting to a total transaction value of approximately $451,466. According to InvestingPro data, the company has received positive attention from analysts, with 11 upward earnings revisions for the upcoming period, despite operating with a significant debt burden.

In addition to the sale, Gold exercised stock options to acquire the same number of shares—52,989—at a price of $2.12 per share, leading to a total expenditure of $112,336. Following these transactions, Gold holds 55,437 shares directly.

These transactions were conducted under a pre-arranged trading plan, as indicated in the filing. The stock options exercised were fully vested and exercisable, with an expiration date set for September 9, 2029.

In other recent news, Mister Car Wash Inc. reported its fourth-quarter 2024 earnings, surpassing analysts’ expectations with an earnings per share (EPS) of $0.09, compared to the forecasted $0.07. The company achieved a 9% increase in net revenues, totaling $251 million, driven by strategic innovations and expansion efforts, including the launch of the Titanium membership service. Stifel analysts noted Mister Car Wash’s stronger-than-anticipated same-store sales and EBITDA, prompting them to raise the price target to $8.50 while maintaining a Hold rating. Raymond (NSE:RYMD) James initiated coverage of Mister Car Wash with an Outperform rating and a $10 price target, highlighting the company’s potential to capitalize on premiumization trends and expand its market share.

Mister Car Wash’s EBITDA for the quarter reached $78 million, exceeding the Street’s anticipation of $74 million. The company also reported a full-year revenue of $1 billion, marking a 7% increase from the previous year, and adjusted EBITDA grew by 12% to $321 million. Despite these positive financial results, Mister Car Wash exercised caution in its outlook, citing the significant impact of favorable weather on its performance. The company plans to increase marketing efforts following successful test programs and intends to raise pricing for its Base Unlimited Wash Club package.

Mister Car Wash opened 40 new locations during the quarter, surpassing the 500-store milestone. Analysts from Raymond James and Stifel noted the company’s strategic focus on technology and digital innovations, including the appointment of its first Chief Technology Officer, Carlos Chavez. The company’s expansion strategy and emphasis on premium services like the Titanium 360° and Ultimate Wash Club are expected to drive substantial revenue and EBITDA growth.

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