Company: MCW
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000950170-25-024533
Chunk: 47

Company: Mister Car Wash, Inc.
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1B
Chunk 47
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 Titanium wash package, which expanded our wash packages offered to UWC Members and Retail customers.

Cost of Labor and Chemicals

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Cost of labor and chemicals
     
    $
    290,705

    $
    279,375

    $
    11,330

    4
    %

    Percentage of net revenues

    29
    %

    30
    %

The increase in the cost of labor and chemicals was primarily attributable to an increase in volume and the year-over-year addition of 38 net locations, as well as some inflationary pressures on store labor, partially offset by labor optimization and lower chemical costs due to new formulations and cost savings from strategic partnerships between periods. Locations opened during 2024 accounted for $8.0 million of the increase.

Other Store Operating Expenses

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    Other store operating expenses
     
    $
    404,675

    $
    363,717

    $
    40,958

    11
    %

    Percentage of net revenues

    41
    %

    39
    %

26 

The increase in other store operating expenses was primarily attributable to the year-over-year addition of 38 net locations, as well as additional rent expense related to our sale-leaseback activity in the current year. Locations opened during 2024 accounted for $15.3 million of the increase.

General and Administrative

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023

    $ Change

    % Change

    General and administrative
     
    $
    107,980

    $
    105,708

    $
    2,272

    2
    %

    Percentage of net revenues

    11
    %

    11
    %

The increase in general and administrative expenses was primarily attributable to the debt refinancing costs in the current year, partially offset by decreases in travel and other expenses.

Loss on Sale of Assets, net

    Year Ended December 31,

    (Dollars in thousands)
     
    2024

    2023