Shares of car-wash chain Mister Car Wash fell after hours on Thursday after the company’s full-year outlook came up short of forecasts. The chain, which runs...
Shares of car-wash chain Mister Car Wash MCW fell after hours on Thursday after the company’s full-year outlook came up short of forecasts. The chain, which runs more than 425 car washes nationwide, said it expected net sales of $925 million to $960 million, compared with FactSet forecasts for $956.7 million. The company also forecast 2023 adjusted earnings per share of between 30 cents and 35 cents, and same-store sales growth of flat to 3%.
The company also forecast 2023 adjusted earnings per share of between 30 cents and 35 cents, and same-store sales growth of flat to 3%. Those, too, were below Wall Street’s forecasts for 38 cents and 3.3% growth, respectively. Shares fell 4.1% after hours. Executives said they expected same-store sales to be lower in the first half of the year due to “more difficult year-over-year comparisons.” Fourth-quarter results, however, beat expectations.
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