Conveyorized car wash service company Mister Car Wash (NYSE:MCW) will be reporting results this Wednesday after market close. Here’s what to look for.
Mister Car Wash beat analysts’ revenue expectations by 1.6% last quarter, reporting revenues of $261.7 million, up 9.4% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ same-store sales estimates but full-year revenue guidance meeting analysts’ expectations.
Is Mister Car Wash a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Mister Car Wash’s revenue to grow 6.6% year on year to $271.7 million, slowing from the 7.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.13 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Mister Car Wash has missed Wall Street’s revenue estimates four times over the last two years.
Looking at Mister Car Wash’s peers in the specialized consumer services segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Pool posted flat year-on-year revenue, meeting analysts’ expectations, and ADT reported revenues up 6.8%, topping estimates by 0.9%. Pool traded up 2.6% following the results while ADT’s stock price was unchanged.
Read our full analysis of Pool’s results here and ADT’s results here.
There has been positive sentiment among investors in the specialized consumer services segment, with share prices up 9.6% on average over the last month. Mister Car Wash is up 7.3% during the same time and is heading into earnings with an average analyst price target of $9.28 (compared to the current share price of $6.45).
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