Mister Car Wash Inc (NYSE:MCW) stock rose 13.70% (As on November 11, 11:17:28 AM UTC-4, Source: Google Finance) after the company meets the earnings estimates for the third quarter of FY 22. Comparable stores sales increased 2.9% compared to a 21.3% increase in the third quarter of 2021. The Company added more than 19,000 Unlimited Wash Club® (“UWC”) Members in the third quarter. As of September 30, 2022, the Company had approximately 1.860 million UWC Members, which represented an 18.9% increase over the same time last year. UWC sales represented approximately 69% of total wash sales in the third quarter of 2022 compared to approximately 66% in the third quarter of 2021. The Company opened eight new greenfield locations and three acquired locations in the third quarter of 2022, bringing the total number of car wash locations operated to 420 on September 30, 2022, compared to 360 car wash locations on September 30, 2021, an increase of 16.7%. Adjusted EBITDA increased 5.9% to $66.1 million from $62.5 million in the third quarter of 2021.

MCW in the third quarter of FY 22 has reported the adjusted earnings per share of 9 cents, which is inline with the analysts’ estimates for the adjusted earnings per share of 9 cents, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 12 percent to $217.58 billion in the third quarter of FY 22, beating the analysts’ estimates for revenue by 0.88%. As of September 30, 2022, cash and cash equivalents totaled $74.9 million, and there were no borrowings under the Company’s Revolving Commitment, compared to cash and cash equivalents of $19.7 million and no borrowings under the Revolving Commitment as of September 30, 2021. Net cash provided by operating activities totaled $185.5 million during the first nine months of 2022, compared to $153.3 million for the same period of fiscal 2021.

Meanwhile, subsequent to the end of the third quarter 2022, the Company completed three separate sale-leaseback transactions involving a total of five car wash locations for aggregate consideration of $25.2 million, bringing the year-to-date aggregate proceeds from sale-leasebacks to $89.9 million.

Mister Car Wash, Inc sees FY2022 EPS of $0.38-$0.39, versus the consensus of $0.38. Mister Car Wash, Inc sees FY2022 revenue of $865-880 million, versus the consensus of $870 million.