FX.co ★ Monro Q3 Results Miss Estimates

Monro, Inc. (MNRO), specializing in automotive services and tires, announced a significant decline in net income for the third quarter, reporting earnings of $4.58 million, or $0.15 per share. This marks a substantial decrease from the $12.17 million, or $0.38 per share, recorded in the same period the previous year.

When excluding certain items, the adjusted earnings for the quarter amounted to $0.19 per share, contrasted with $0.39 per share from the prior year. Analysts surveyed by Thomson Reuters had anticipated earnings of $0.29 per share for the quarter, typically excluding any non-recurring items.

Quarterly sales fell by 3.7%, reaching $305.77 million, down from $317.65 million observed during the previous year's corresponding quarter. This figure also fell short of the analysts' expectations, who projected revenues of $311.13 million for the period.

In terms of comparable store sales, there was a decline of 0.8% on a reported basis and a 1.9% decrease when adjusted for the number of days.

Looking forward, Monro has decided not to issue financial guidance for fiscal 2025 at this moment. The company plans to offer an insight into its full-year expectations for fiscal 2025 during an upcoming earnings conference call.