FX.co ★ Monro Q4 Results Miss Estimates

Automotive service provider Monro, Inc. (MNRO) reported a significant increase in net income for the fourth quarter, rising to $3.7 million or $0.12 per share, up from $0.4 million or $0.01 per share in the corresponding quarter of the previous year.

Adjusted earnings for the quarter, excluding special items, were $0.21 per share, compared to $0.08 per share in the same period last year.

This performance fell short of the expectations of analysts, who, according to a survey conducted by Thomson Reuters, had predicted earnings of $0.30 per share for the quarter. Typically, analysts' estimates do not include special items.

Quarterly sales saw a marginal decline of 0.2 percent, totaling $310.1 million, down from $310.8 million in the prior-year period. This figure also missed analysts' forecasts, which had projected revenues of $320.24 million.

Comparable store sales showed a minuscule increase of 0.1 percent, but saw a drop of 7.2 percent when adjusting for the number of days.

Monro's Board of Directors declared a cash dividend of $0.28 per share for the first quarter of fiscal year 2025. This dividend will be payable on June 18, 2024, to shareholders recorded as of June 4, 2024.

Looking ahead, Monro has opted not to provide financial guidance for fiscal 2025 at this time. However, the company plans to share its outlook for both the fiscal first quarter and the entire fiscal year of 2025 during its upcoming earnings conference call.