SharkNinja Set to Join S&P MidCap 400; Flowers Foods and F&G Annuities & Life to Join S&P SmallCap 600
SharkNinja (SN) will join the S&P MidCap 400, replacing Flowers Foods (FLO) effective May 18, 2026. Flowers Foods (FLO) will join the S&P SmallCap 600, replacing CSG Systems Intl (CSGS) effective May 18, 2026. CSGS is being acquired by NEC Corporation (6701) in a deal expected to close soon, pending final closing conditions. F&G Annuities & Life (FG) will join the S&P SmallCap 600, replacing Mister Car Wash (MCW) effective May 19, 2026.
Mister Car Wash Announces First Quarter 2026 Results
Mister Car Wash reported first quarter 2026 net revenue of $277.9 million, up 6% year-over-year, while net income increased 26.7% to $34.2 million. Operational metrics showed strength with comparable-store sales rising 3.9% and Unlimited Wash Club memberships growing 11% to approximately 2.5 million members. Adjusted EBITDA grew 13% to $96.7 million and the company generated $33.0 million in free cash flow, ending the quarter with $54.6 million in cash. The company will not host an earnings conference call due to a separately announced transaction with Leonard Green & Partners.
MCW ALERT: Mister Car Wash Shareholders Seeking More Money in Buyout Should Contact Julie & Holleman LLP
Julie & Holleman LLP is investigating the proposed $7 per share buyout of Mister Car Wash by its largest shareholder, Leonard Green & Partners. The firm cites concerns over conflicts of interest and the fact that the deal does not require public shareholder approval despite insiders remaining. Leonard Green currently owns about two-thirds of the company and aims to buy the remaining shares for roughly $3.1 billion in total value.
