Overview

• U.S. car wash operator's Q1 revenue rose 6%, beating analyst expectations

• Q1 adjusted EBITDA beat consensus, up 13% year-over-year

• Unlimited Wash Club memberships grew 11% year-over-year to 2.5 mln

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• MEMBERSHIP GROWTH - Unlimited Wash Club memberships rose 11% year-over-year to 2.5 mln, making up a larger share of total wash sales

• COMPARABLE-STORE SALES - Comparable-store sales increased 3.9% during the quarter

• NEW LOCATIONS - Opened 2 new greenfield locations, bringing total operated locations to 549, up 6% year-over-year

Company press release: ID:nGNX2zxL6j

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 12 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the personal services peer group is "buy"

• Wall Street's median 12-month price target for Mister Car Wash Inc is $7.00, about 1.1% below its April 28 closing price of $7.08

• The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 12 three months ago

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