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Mister Car Wash (MCW) investor relations material
Mister Car Wash Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary29 Oct, 2025
Executive summary
Q3 2025 revenue grew 6% to $263.4 million, with adjusted EBITDA up 10% to $86.8 million and adjusted EPS rising 38% year-over-year to $0.11.
Comparable store sales increased 3.1%, marking the 10th consecutive quarter of comp gains, driven by strong Unlimited Wash Club (UWC) growth and operational execution.
UWC membership reached 2.23 million, up 6% year-over-year, representing 77% of total wash sales.
Five new greenfield locations opened in Q3, bringing the total to 527 locations, a 5% increase year-over-year.
Acquired five stores in Lubbock, Texas post-Q3, doubling market share and expanding local presence.
Financial highlights
Nine-month net revenues were $790.5 million, up 6% year-over-year, with Q3 net income at $27.4 million and adjusted net income at $36.4 million.
Adjusted EBITDA margin rose to 32.9%, the highest Q3 margin reported.
Free cash flow (excluding growth CapEx) was $202 million for the nine months ended September 30, up from $174 million last year.
Cash and equivalents at quarter-end were $35.7 million, with $299.9 million in available borrowing capacity.
Interest expense improved 32% to $14 million due to lower rates and reduced borrowings.
Outlook and guidance
Full-year 2025 net revenues expected between $1,046 and $1,054 million, with adjusted EBITDA at the high end of $338-$342 million.
Comparable-store sales growth projected at 1.5% to 2.5%, with guidance reiterated at the high end.
Approximately 30 new greenfield stores targeted for 2025, with Lubbock acquisition incremental.
Capital expenditures forecasted at $255 to $275 million for the year.
What drove the free cash flow turnaround?
Greenfield vs acquisition strategy for growth?
UWC sales contribution vs. membership growth?
Marketing tests: How to boost flat membership?
M&A vs. greenfield capital allocation strategy?
Greenfield performance: Key learnings and adjustments?
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Next Mister Car Wash earnings date
Q4 202518 Feb, 2026
Next Mister Car Wash earnings date
Q4 202518 Feb, 2026
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Frequently asked questions
Mister Car Wash Inc is a car wash services company that operates a network of conveyorized car wash locations across the United States. The company provides exterior and interior cleaning services, subscription-based membership plans, and automotive detailing. It also sells branded cleaning products and accessories. Mister Car Wash Inc is headquartered in Tucson, Arizona, and its shares are listed on the NYSE.
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