Mister Car Wash, Inc. (NYSE:MCW) Q2 2023 Earnings Conference Call August 3, 2023 4:30 PM ET
Company Participants
John Lai - Chairperson & Chief Executive Officer
Jed Gold - Chief Financial Officer
Conference Call Participants
John Heinbockel - Guggenheim Securities
Simeon Gutman - Morgan Stanley
Michael Lasser - UBS
Peter Keith - Piper Sandler
Chris O'Cull - Stifel
Tristan Thomas - BMO Capital
Operator
Good afternoon, and welcome to Mister Car Wash's Conference Call to discuss Financial Results for the Second Quarter Ending June 30 2023. At this time, all participants are in a listen-only mode. Later we will conduct a question-and-answer session and instructions will follow at that time. Please note this call is being recorded and a reproduction of this call in whole or in part is not permitted without written authorization from the company.
Speaking from management on today’s call are John Lai, Chairperson and Chief Executive Officer; and Jed Gold, Chief Financial Officer. After John and Jed have made their formal remarks, we will open the call to questions.
During this conference call, references to non-GAAP financial measures will be made. A complete reconciliation of these measures to the most comparable GAAP measures have been included in the company's earnings press release issued earlier today and posted to the Investor Relations section of the company's website at mistercarwash.com.
As a reminder, comments made on today's call may include forward-looking statements which are subject to significant risks and uncertainties that could cause the company's actual results to differ materially from management's current expectations.
Please be advised that the statements made today are current only as of this call and are based on the company's present understanding of the market and industry conditions. While the company may choose to update these statements in the future, they are under no obligation to do so unless required by applicable law or regulations.
Please review the forward-looking statements disclaimer contained in the company's latest annual 10-K and 10-Q reports as such factors may be updated from time to time in other filings with the Securities and Exchange Commission.
I will now turn the call over to Mr. John Lai. Please go ahead sir.
John Lai
Good afternoon, everyone and thank you for joining our 2023 Q2 earnings call. We had a solid second quarter where comp store sales accelerated into positive territory. Operating margins improved quarter-over-quarter. Our Unlimited Wash program remain incredibly resilient and we officially began the rollout of our Titanium program.