{"id":44855,"date":"2023-08-05T12:21:19","date_gmt":"2023-08-05T16:21:19","guid":{"rendered":"https:\/\/ifintechworld.com\/investing\/mister-car-wash-shares-down-14-on-outlook-cut-weak-2q\/"},"modified":"2023-08-05T12:21:20","modified_gmt":"2023-08-05T16:21:20","slug":"mister-car-wash-shares-down-14-on-outlook-cut-weak-2q","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=44855","title":{"rendered":"Mister Car Wash Shares Down 14% on Outlook Cut, Weak 2Q"},"content":{"rendered":"
\n

By Dean Seal<\/p>\n

Shares of Mister Car Wash are trading lower after the company cut its annual revenue guidance and logged lower second-quarter sales than analysts expected.<\/p>\n

The stock is down 14% at $7.59 in early trading on Friday. Shares have fallen by more than a third in the past 12 months.<\/p>\n

\n

The carwash operator said after the bell on Thursday that it now expects $913 million to $936 million in sales this year, down from previous guidance of $925 million to $960 million, and below analyst projections for $937.9 million, according to FactSet.<\/p>\n

In the second quarter, revenue grew 5.2% to $236.9 million, missing analyst forecasts by nearly $5 million.<\/p>\n

On Wednesday, Driven Brands reported slowing traffic within its carwash business amid an explosion of competition in the space. Its shares dropped by nearly 50% that day to an all-time low of $13.15.<\/p>\n

<\/pre>\n
Write to Dean Seal at dean.seal@wsj.com<\/p>\n
<\/pre>\n<\/p><\/div>\n<\/div>\n
Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"
By Dean Seal Shares of Mister Car Wash are trading lower after the company cut its annual revenue guidance and logged lower second-quarter sales than analysts expected. The stock is down 14% at $7.59 in early trading on Friday. Shares have fallen by more than a third in the past 12 months. The carwash operator […]<\/p>\n","protected":false},"author":1,"featured_media":1898,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[239],"tags":[83],"class_list":["post-44855","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-investing","tag-featured","post_format-post-format-video"],"yoast_head":"\nMister Car Wash Shares Down 14% on Outlook Cut, Weak 2Q | iFintechWorld<\/title>\n<meta name=\"description\" content=\"By Dean Seal Shares of Mister Car Wash are trading lower after the company cut its annual revenue guidance and logged lower second-quarter sales than\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=44855\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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