Mister Car Wash, Inc. (NYSE:MCW) Q1 2022 Earnings Conference Call May 12, 2022 4:00 PM ET

Company Participants

John Lai - Chairman & CEO

Jed Gold - CFO

Megan Everett - Senior Director of Communications

Conference Call Participants

Michael Kessler - Morgan Stanley

Michael Lasser - UBS

Simeon Siegel - BMO Capital Markets

Elizabeth Suzuki - Bank of America

Kate McShane - Goldman Sachs

Chris O'Cull - Stifel Financial Corp.

Ryan Sundby - William Blair

Jacob Moser - Wolfe Research

Operator

Good afternoon, and welcome to Mister Car Wash's conference call to discuss financial results for the first quarter fiscal 2022. 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 that 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.

I would now like to turn the call over to Megan Everett, Senior Director of Communications. Please go ahead, ma'am.

Megan Everett

Thank you. Good afternoon, everyone, and thank you for joining us today for Mister Car Wash's Q1 2022 Earnings Call. Speaking today are Chairperson and Chief Executive Officer, John Lai; and Chief Financial Officer, Jed Gold. After John and Jed have made their formal remarks, we will open the call to questions.

Before we begin, I do need to remind everyone that comments made today 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. These statements speak as of today, and except as may be required by law, the company does not have any obligation to update or revise such statements if circumstances change. Please review the cautionary statements and risk factors contained in the company’s most recent filings with the SEC, as such factors may be updated from time to time. During the call today, management will also refer to certain non-GAAP financial measures. A reconciliation between the GAAP and non-GAAP financial measures can be found in the company's earnings press release issued earlier today and posted to the Investor Relations section of Mister Car Wash's website at ir.misterCarWash.com.

With that, I'll turn the call over to John.

John Lai

Thanks, Megan, and good afternoon, everyone, and thanks for joining us on our first quarter earnings call. We had another great quarter and are pleased with the strong start that we've had in 2022. With our high volume express exterior locations, a limited wash club program, and expanding network of stores, we're making car washing more convenient than ever. And as more and more customers discover how quick and easy it is to keep their car clean, they're also discovering the great value of our unlimited wash club program, and the amazing customer service that our team members provide. We see that the combination of convenience, value, and service, is driving strong demand and fundamentally changing the way people care for their vehicles. This is translating into strong and consistent demand and results.