What Happened?

Shares of conveyorized car wash service company Mister Car Wash (NYSE:MCW) jumped 14.9% in the pre-market session after the company reported impressive third-quarter results, with same-store sales outperforming Wall Street's estimates. EBITDA and EPS also came in ahead of expectations. The business observed positive retail sales trends and was able to capture some of that opportunity as it continued to expand its footprint. Notably, MCW launched its 500th store during the quarter. Looking ahead, EBITDA guidance came in ahead of expectations as well, and EPS guidance was raised. Overall, this was a very solid quarter.

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What The Market Is Telling Us

Mister Car Wash’s shares are somewhat volatile and have had 13 moves greater than 5% over the last year. But moves this big are rare even for Mister Car Wash and indicate this news significantly impacted the market’s perception of the business.

Mister Car Wash is down 10.1% since the beginning of the year, and at $7.54 per share, it is trading 18.8% below its 52-week high of $9.28 from February 2024. Investors who bought $1,000 worth of Mister Car Wash’s shares at the IPO in June 2021 would now be looking at an investment worth $370.33.

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