Benzinga | Aug 13, 2021 08:15AM EDT

Mister Car Wash Q2 Earnings Smashes Estimates; Provides FY21 Guidance

* Mister Car Wash Inc (NYSE:MCW) reported second-quarter FY21 sales growth of 93.4% year-on-year, to $197.08 million, beating the analyst consensus of $193.20 million.

* Comparable stores sales rose 93% versus last year. Compounded two-year comparable stores sales increased 22%.

* Mister Car Wash had 1.5 million Unlimited Wash Club (UWC) members as of June 30, 2021, a 39% rise Y/Y.

* The number of locations operated by the company was 351 as of June 30, 2021, versus 327 locations as of June 30, 2020.

* The company incurred an operating loss of $(137.9) million compared to an operating income of $4.2 million.

* Mister Car Wash held $158.3 million in cash and equivalents as of June 30, 2021.

* Adjusted EBITDA increased 160% Y/Y to $73.1 million.

* Adjusted EPS of $0.14 beat the analyst consensus of $0.09.

* Outlook: Mister Car Wash sees FY21 revenue growth of about 30%.

* The company expects FY21 adjusted EPS of $0.39 - $0.44.

* Price Action: MCW shares closed higher by 1.10% at $20.19 on Thursday.