Monro, Inc. Announces Third Quarter Fiscal 2025 Financial Results
Monro Inc. (MNRO) reported its third quarter fiscal 2025 financial results, showing a 3.7% decrease in sales to $305.8 million compared to $317.7 million in the same period last year. The company saw a 0.8% decrease in comparable store sales, marking a 500 basis point improvement from the previous quarter's 5.8% decline.
Notable performance metrics include a 30% increase in battery sales, 13% growth in alignments, and 6% growth in front end/shocks. However, tires decreased by 1%, maintenance services by 2%, and brakes by 6%. Operating income was $10.0 million (3.3% of sales), down from $21.4 million (6.7% of sales) in the prior year. The company reported diluted earnings per share of $.15, compared to $.38 in Q3 fiscal 2024.
Monro generated $103 million in operating cash flow for the first nine months of fiscal 2025 and maintained total liquidity of $521 million. The company distributed a quarterly cash dividend of $.28 per share.
Monro Inc. (MNRO) ha riportato i risultati finanziari del terzo trimestre dell'anno fiscale 2025, mostrando una diminuzione delle vendite del 3,7% a $305,8 milioni rispetto a $317,7 milioni nello stesso periodo dell'anno scorso. L'azienda ha registrato una diminuzione dello 0,8% nelle vendite delle filiali comparabili, segnando un miglioramento di 500 punti base rispetto al calo del 5,8% del trimestre precedente.
Tra i principali indicatori di performance si evidenziano un aumento del 30% nelle vendite delle batterie, una crescita del 13% nelle allineamenti e un incremento del 6% nei servizi di sospensioni. Tuttavia, le vendite di pneumatici sono diminuite dell'1%, quelle dei servizi di manutenzione del 2% e dei freni del 6%. L'utile operativo è stato di $10,0 milioni (3,3% delle vendite), in calo rispetto ai $21,4 milioni (6,7% delle vendite) dell'anno precedente. La società ha riportato guadagni per azione diluiti di $0,15, rispetto ai $0,38 del terzo trimestre dell'anno fiscale 2024.
Monro ha generato $103 milioni di flusso di cassa operativo nei primi nove mesi dell'anno fiscale 2025 e ha mantenuto una liquidità totale di $521 milioni. L'azienda ha distribuito un dividendo in contante trimestrale di $0,28 per azione.
Monro Inc. (MNRO) informó sus resultados financieros del tercer trimestre del año fiscal 2025, mostrando una disminución del 3,7% en las ventas a $305,8 millones en comparación con $317,7 millones en el mismo período del año pasado. La empresa vio una disminución del 0,8% en las ventas de tiendas comparables, marcando una mejora de 500 puntos básicos desde la caída del 5,8% del trimestre anterior.
Los métricas de rendimiento destacadas incluyen un aumento del 30% en las ventas de baterías, un crecimiento del 13% en alineaciones y un crecimiento del 6% en suspensiones. Sin embargo, los neumáticos disminuyeron un 1%, los servicios de mantenimiento un 2% y los frenos un 6%. El ingreso operativo fue de $10,0 millones (3,3% de las ventas), en comparación con $21,4 millones (6,7% de las ventas) del año anterior. La compañía reportó ganancias por acción diluidas de $0,15, en comparación con $0,38 en el tercer trimestre del año fiscal 2024.
Monro generó $103 millones en flujo de caja operativo durante los primeros nueve meses del año fiscal 2025 y mantuvo una liquidez total de $521 millones. La empresa distribuyó un dividendo en efectivo trimestral de $0,28 por acción.
Monro Inc. (MNRO)는 2025 회계연도 3분기 재무 결과를 발표하며 판매가 전년 동기 대비 3.7% 감소한 3억 580만 달러로 나타났습니다. 비교 가능한 매장 판매는 0.8% 감소했지만, 이는 이전 분기의 5.8% 감소에서 500bp 개선된 수치입니다.
주요 성과 지표로는 배터리 판매가 30% 증가하고, 정렬 서비스가 13% 성장하며, 앞쪽/충격 제품이 6% 증가했습니다. 그러나 타이어는 1%, 유지보수 서비스는 2%, 브레이크는 6% 감소했습니다. 운영 소득은 1천만 달러(판매의 3.3%)로, 전년도 2천1백40만 달러(판매의 6.7%)에서 감소했습니다. 회사는 희석된 주당 순이익이 $0.15라고 보고했으며, 이는 2024 회계연도 3분기의 $0.38과 비교됩니다.
Monro는 2025 회계연도 처음 9개월 동안 운영 현금 흐름으로 1억 3백만 달러를 생성했으며, 총 유동성은 5억 2천1백만 달러를 유지했습니다. 회사는 주당 0.28 달러의 분기 현금 배당금을 지급했습니다.
Monro Inc. (MNRO) a publié ses résultats financiers pour le troisième trimestre de l'exercice 2025, montrant une baisse des ventes de 3,7% à 305,8 millions de dollars par rapport à 317,7 millions de dollars au cours de la même période l'année dernière. La société a enregistré une baisse de 0,8% des ventes des magasins comparables, marquant une amélioration de 500 points de base par rapport à la baisse de 5,8% du trimestre précédent.
Les performances notables incluent une augmentation de 30% des ventes de batteries, une croissance de 13% des alignements et une augmentation de 6% des amortisseurs. Cependant, les ventes de pneus ont diminué de 1%, les services de maintenance de 2% et les freins de 6%. Le bénéfice d'exploitation était de 10,0 millions de dollars (3,3% des ventes), en baisse par rapport à 21,4 millions de dollars (6,7% des ventes) l'année précédente. L'entreprise a annoncé un bénéfice par action dilué de 0,15 $, contre 0,38 $ au troisième trimestre de l'exercice 2024.
Monro a généré 103 millions de dollars de flux de trésorerie d'exploitation au cours des neuf premiers mois de l'exercice 2025 et a maintenu une liquidité totale de 521 millions de dollars. L'entreprise a distribué un dividende en espèces trimestriel de 0,28 $ par action.
Monro Inc. (MNRO) hat seine finanziellen Ergebnisse für das dritte Quartal des Geschäftsjahres 2025 veröffentlicht, die einen Rückgang der Verkäufe um 3,7% auf 305,8 Millionen Dollar im Vergleich zu 317,7 Millionen Dollar im gleichen Zeitraum des Vorjahres zeigten. Das Unternehmen verzeichnete einen Rückgang des vergleichbaren Ladenverkaufs um 0,8%, was eine Verbesserung um 500 Basispunkte im Vergleich zu dem Rückgang von 5,8% im vorherigen Quartal darstellt.
Zu den auffälligen Leistungskennzahlen gehören ein Anstieg der Batterieverkäufe um 30%, ein Wachstum bei den Ausrichtungsdiensten um 13% und ein Wachstum bei den Vorderachsen/Stoßdämpfern um 6%. Allerdings gingen die Reifverkäufe um 1%, die Wartungsdienste um 2% und die Bremsen um 6% zurück. Das Betriebsergebnis betrug 10,0 Millionen Dollar (3,3% des Umsatzes), im Vergleich zu 21,4 Millionen Dollar (6,7% des Umsatzes) im Vorjahr. Das Unternehmen meldete einen verwässerten Gewinn pro Aktie von 0,15 Dollar, verglichen mit 0,38 Dollar im 3. Quartal des Geschäftsjahres 2024.
Monro generierte in den ersten neun Monaten des Geschäftsjahres 2025 einen operativen Cashflow von 103 Millionen Dollar und hielt eine Gesamtl liquidität von 521 Millionen Dollar. Das Unternehmen zahlte eine vierteljährliche Bar-Dividende von 0,28 Dollar pro Aktie aus.
- 500 basis point sequential improvement in comparable store sales from Q2
- Strong category growth: batteries +30%, alignments +13%, front end/shocks +6%
- Generated $103 million operating cash flow in first nine months
- Maintained strong liquidity position of $521 million
- Sales decreased 3.7% to $305.8 million
- Operating income declined to 3.3% of sales from 6.7%
- Diluted EPS decreased to $0.15 from $0.38 year-over-year
- Gross margin decreased 120 basis points
- Operating expenses increased to 31.0% of sales from 28.7%
Insights
Monro's Q3 FY2025 financial results reveal a complex operational picture with notable bright spots amid challenges. The 500 basis point sequential improvement in comparable store sales and return to growth in December suggest early signs of stabilization, though structural challenges persist.
The company's financial health remains solid with
Key performance indicators show mixed segment dynamics:
- Strong growth in high-margin services: Batteries (
+30% ), alignments (+13% ) and front end/shocks (+6% ) - Weakness in core segments: Tires (
-1% ), maintenance (-2% ) and brakes (-6% )
The 120 basis point gross margin decline and increased operating expenses ratio to
The decline in adjusted EPS to
- Drove 500 Basis Point Sequential Improvement in Year-over-Year Comparable Store Sales Percentage Change from the Second Quarter of Fiscal 20251
- Returned to Year-over-Year Comparable Store Sales Growth in Fiscal December1
-
Generated Cash from Operating Activities of
$103 Million -
Distributed Third Quarter Fiscal 2025 Cash Dividend of
$.28 per Share
Third Quarter Results
Sales for the third quarter of the fiscal year ending March 29, 2025 (“fiscal 2025”) decreased
Comparable store sales1, increased
Gross margin decreased 120 basis points compared to the prior year period, primarily resulting from higher material costs due to mix within tires and an increased level of self-funded promotions to attract value-oriented consumers into the Company’s stores, which was partially offset by lower technician labor costs as a percentage of sales.
Total operating expenses for the third quarter of fiscal 2025 were
Operating income for the third quarter of fiscal 2025 was
Interest expense was
Income tax expense in the third quarter of fiscal 2025 was
Net income for the third quarter of fiscal 2025 was
During the third quarter of fiscal 2025, the Company closed 9 stores. Monro ended the quarter with 1,263 company-operated stores and 48 franchised locations.
“We drove a sequential improvement in our year-over-year comparable store sales percentage change from the second quarter and returned our business to year-over-year comparable store sales growth in the month of December, when adjusted for a shift in the timing of the Christmas holiday. Importantly, the year-over-year comparable store sales percentage change in both our tire dollar and unit sales improved sequentially from the second quarter and our tire category comped positive in the month of December, when adjusted for the holiday shift, with year-over-year growth in units in the quarter. Our ConfiDrive digital courtesy inspection process and our oil change offer allowed us to drive sequential improvement in our year-over-year service category comparable store sales percentage change from the second quarter. We drove year-over-year growth in both units and sales dollars for batteries, alignments and front/end shocks. Our preliminary fiscal January comparable store sales are down
Broderick continued, “With our commitment to sales and unit growth and improving our customer counts, we expect to leverage our initiatives to achieve our fourth quarter objectives.”
First Nine Months Results
For the current nine-month period:
-
Sales decreased
6.9% to$900.3 million $966.7 million 5.6% 1. Comparable store sales, unadjusted for days, decreased5.9% . This compares to a decrease of2.7% in the prior year period. -
Gross margin for the nine-month period was
35.6% , compared to35.4% in the prior year period. -
Operating income was
4.0% of sales, compared to6.3% in the prior year period. -
Net income for the first nine months of fiscal 2025 was
$16.1 million $.52 per diluted share, as compared to$33.9 million $1.05 -
Adjusted diluted earnings per share, a non-GAAP measure, in the first nine months of fiscal 2025 was
$.57 . This compares to adjusted diluted earnings per share of$1.11
Strong Financial Position
During the first nine months of fiscal 2025, the Company generated operating cash flow of
Third Quarter Fiscal 2025 Cash Dividend
On December 17, 2024, the Company paid a cash dividend for the third quarter of fiscal 2025 of
Company Expectations
Monro is not providing fiscal 2025 financial guidance at this time but will provide perspective on its expectations for the full year of fiscal 2025 during its earnings conference call.
Earnings Conference Call and Webcast
The Company will host a conference call and audio webcast on Wednesday, January 29, 2025 at 8:30 a.m. Eastern Time. The conference call may be accessed by dialing 1-833-470-1428 and using the required access code of 875581. A replay will be available approximately two hours after the recording through Wednesday, February 12, 2025 and can be accessed by dialing 1-866-813-9403 and using the required access code of 872796. A replay can also be accessed via audio webcast at the Investors section of the Company’s website, located at corporate.monro.com/investors.
About Monro, Inc.
Monro, Inc. (NASDAQ: MNRO) is one of the nation’s leading automotive service and tire providers, delivering best-in-class auto care to communities across the country, from oil changes, tires and parts installation, to the most complex vehicle repairs. With a growing market share and a focus on sustainable growth, the Company generated almost
Cautionary Note Regarding Forward-Looking Statements
The statements contained in this press release that are not historical facts may contain statements of future expectations and other forward-looking statements made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words and phrases as “expect,” “estimate,” “may,” “anticipate,” “believe,” “focus,” “will,” and other similar words or phrases. Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed. These factors include, but are not necessarily limited to product demand, advances in automotive technologies including adoption of electric vehicle technology, our dependence on third parties for certain inventory, dependence on and competition within the primary markets in which the Company’s stores are located, the effect of general business or economic and geopolitical conditions on the Company’s business, including consumer spending levels, inflation, and unemployment, seasonality, our ability to service our debt obligations and comply with the terms of our credit agreement, changes in the
Non-GAAP Financial Measures
In addition to reporting diluted earnings per share (“EPS”), which is a generally accepted accounting principles (“GAAP”) measure, this press release includes adjusted diluted EPS, which is a non-GAAP financial measure. The Company has included a reconciliation from adjusted diluted EPS to its most directly comparable GAAP measure, diluted EPS. Management views this non-GAAP financial measure as a way to better assess comparability between periods because management believes the non-GAAP financial measure shows the Company’s core business operations while excluding certain non-recurring items such as costs related to shareholder matters from the Company’s equity capital structure recapitalization, transition costs related to the Company’s back-office optimization, store impairment charges, litigation reserve, net loss on the sale of the Company’s wholesale and tire distribution assets, net gain on sale of the Company’s corporate headquarters, and items related to store closings.
This non-GAAP financial measure is not intended to represent, and should not be considered more meaningful than, or as an alternative to, its most directly comparable GAAP measure. This non-GAAP financial measure may be different from similarly titled non-GAAP financial measures used by other companies.
Comparable Store Sales
The Company defines comparable store sales as sales for locations that have been opened or owned at least one full fiscal year. The Company believes this period is generally required for new store sales levels to begin to normalize. Management uses comparable store sales to assess the operating performance of the Company’s stores and believes the metric is useful to investors because the Company’s overall results are dependent upon the results of its stores.
Source: Monro, Inc.
MNRO-Fin
MONRO, INC. Financial Highlights (Unaudited) (Dollars and share counts in thousands) |
|||||||||||||
|
|
|
Quarter Ended Fiscal December |
|
|||||||||
|
|
|
2024 |
|
2023 |
% Change |
|
||||||
|
|
|
|
|
|
|
|
|
|||||
Sales |
$ |
305,769 |
|
|
$ |
317,653 |
|
(3.7 |
)% |
|
|||
|
|
|
|
|
|
|
|||||||
Cost of sales, including occupancy costs |
|
200,966 |
|
|
|
204,976 |
|
(2.0 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Gross profit |
|
104,803 |
|
|
|
112,677 |
|
(7.0 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Operating, selling, general and administrative expenses |
94,840 |
|
|
|
91,294 |
|
3.9 |
% |
|
||||
Operating income |
|
9,963 |
|
|
|
21,383 |
|
(53.4 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Interest expense, net |
|
4,246 |
|
|
|
5,043 |
|
(15.8 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Other income, net |
|
(101 |
) |
|
|
(62 |
) |
62.9 |
% |
|
|||
|
|
|
|
|
|
|
|
||||||
Income before income taxes |
|
5,818 |
|
|
|
16,402 |
|
(64.5 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Provision for income taxes |
|
1,235 |
|
|
|
4,232 |
|
(70.8 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Net income |
$ |
4,583 |
|
|
$ |
12,170 |
|
(62.3 |
)% |
|
|||
|
|
|
|
|
|
|
|
||||||
Diluted earnings per share |
$ |
0.15 |
|
|
$ |
0.38 |
|
(60.5 |
)% |
||||
|
|
|
|
|
|
|
|
||||||
Weighted average number of diluted shares outstanding |
|
31,273 |
|
|
|
32,188 |
|
|
|
||||
|
|
|
|
|
|
|
|
||||||
Number of stores open (at end of quarter) |
|
1,263 |
|
|
|
1,296 |
|
|
|
||||
|
|||||||||||||
MONRO, INC. Financial Highlights (Unaudited) (Dollars and share counts in thousands) |
||||||||
|
|
|
Nine Months Ended Fiscal December |
|
||||
|
|
|
|
2024 |
|
|
2023 |
% Change |
|
|
|
|
|
|
|
|
|
Sales |
$ |
900,342 |
|
$ |
966,712 |
(6.9)% |
||
|
|
|
|
|
|
|
||
Cost of sales, including occupancy costs |
|
579,976 |
|
|
624,666 |
(7.2)% |
||
|
|
|
|
|
|
|
|
|
Gross profit |
|
320,366 |
|
|
342,046 |
(6.3)% |
||
|
|
|
|
|
|
|
|
|
Operating, selling, general and administrative expenses |
283,954 |
|
|
280,959 |
|
|||
Operating income |
|
36,412 |
|
|
61,087 |
(40.4)% |
||
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
14,526 |
|
|
15,052 |
(3.5)% |
||
|
|
|
|
|
|
|
|
|
Other income, net |
|
(303) |
|
|
(153) |
|
||
|
|
|
|
|
|
|
|
|
Income before income taxes |
|
22,189 |
|
|
46,188 |
(52.0)% |
||
|
|
|
|
|
|
|
|
|
Provision for income taxes |
|
6,096 |
|
|
12,317 |
(50.5)% |
||
|
|
|
|
|
|
|
|
|
Net income |
$ |
16,093 |
|
$ |
33,871 |
(52.5)% |
||
|
|
|
|
|
|
|
||
Diluted earnings per share |
$ |
0.52 |
|
$ |
1.05 |
(50.5)% |
||
|
|
|
|
|
|
|
|
|
Weighted average number of diluted shares outstanding |
|
31,221 |
|
|
32,142 |
|
||
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
||
| MONRO, INC.
Financial Highlights (Unaudited) (Dollars in thousands) |
|||||
December 28, 2024 |
March 30, 2024 |
||||
Assets |
|||||
|
|
|
|
|
|
Cash and equivalents |
$ |
10,161 |
|
$ |
6,561 |
|
|
|
|
|
|
Inventory |
|
176,544 |
|
|
154,085 |
|
|
|
|
|
|
Other current assets |
|
86,967 |
|
|
92,643 |
|
|
|
|
|
|
Total current assets |
|
273,672 |
|
|
253,289 |
|
|
|
|
|
|
Property and equipment, net |
|
268,593 |
|
|
280,154 |
|
|
|
|
|
|
Finance lease and financing obligation assets, net |
|
172,822 |
|
|
180,803 |
Operating lease assets, net |
|
190,074 |
|
|
202,718 |
|
|
|
|
|
|
Other non-current assets |
|
764,768 |
|
|
775,850 |
|
|
|
|
|
|
Total assets |
$ |
1,669,929 |
|
$ |
1,692,814 |
|
|
|
|
|
|
Liabilities and Shareholders’ Equity |
|
|
|
|
|
|
|
|
|
|
|
Current liabilities |
$ |
507,713 |
|
$ |
455,156 |
|
|
|
|
|
|
Long-term debt |
|
59,250 |
|
|
102,000 |
Long-term finance leases and financing obligations |
|
232,706 |
|
|
249,484 |
|
|
|
|
|
|
Long-term operating lease liabilities |
|
168,070 |
|
|
181,852 |
|
|
|
|
|
|
Other long-term liabilities |
|
53,267 |
|
|
47,547 |
|
|
|
|
|
|
Total liabilities |
|
1,021,006 |
|
|
1,036,039 |
|
|
|
|
|
|
Total shareholders’ equity |
|
648,923 |
|
|
656,775 |
|
|
|
|
|
|
Total liabilities and shareholders’ equity |
$ |
1,669,929 |
|
$ |
1,692,814 |
|
|
|
|
|
|
MONRO, INC. Reconciliation of Adjusted Diluted Earnings Per Share (EPS) (Unaudited) |
|||||
|
|
Quarter Ended Fiscal |
|||
|
December |
||||
2024 |
2023 |
||||
Diluted EPS |
$ |
0.15 |
$ |
0.38 |
|
Net loss on sale of wholesale tire and distribution assets (a) |
|
− |
|
0.01 |
|
Transition costs related to back-office optimization |
|
0.01 |
|
0.00 |
|
Store closing costs |
|
0.01 |
|
(0.00) |
|
Litigation reserve |
|
0.01 |
|
− |
|
Costs related to shareholder matters |
|
− |
|
0.00 |
|
Net gain on sale of corporate headquarters (b) |
|
0.00 |
|
0.00 |
|
Adjusted Diluted EPS |
$ |
0.19 |
$ |
0.39 |
|
Note: Amounts may not foot due to rounding.
Supplemental Reconciliation of Adjusted Net Income (Unaudited) (Dollars in Thousands) |
||||||
|
Quarter Ended Fiscal December |
|
||||
2024 |
2023 |
|||||
Net Income |
$ |
4,583 |
$ |
12,170 |
|
|
Net loss on sale of wholesale tire and distribution assets (a) |
|
− |
|
304 |
|
|
Transition costs related to back-office optimization |
|
527 |
|
58 |
|
|
Store closing costs |
|
437 |
|
(30) |
|
|
Litigation reserve |
|
650 |
|
− |
|
|
Costs related to shareholder matters |
|
− |
|
80 |
|
|
Net gain on sale of corporate headquarters (b) |
|
73 |
|
95 |
|
|
Provision for income taxes on pre-tax adjustments (c) |
|
(479) |
|
(131) |
|
|
Adjusted Net Income |
$ |
5,791 |
$ |
12,546 |
|
|
MONRO, INC. Reconciliation of Adjusted Diluted Earnings Per Share (EPS) (Unaudited) |
|||||
|
|
Nine Months Ended |
|||
|
|
Fiscal December |
|||
|
2024 |
2023 |
|||
Diluted EPS |
$ |
0.52 |
$ |
1.05 |
|
Store impairment charges |
|
0.04 |
|
− |
|
Net loss on sale of wholesale tire and distribution assets (a) |
|
− |
|
0.01 |
|
Transition costs related to back-office optimization |
|
0.04 |
|
0.01 |
|
Store closing costs |
|
0.03 |
|
(0.00) |
|
Litigation reserve |
|
0.01 |
|
− |
|
Costs related to shareholder matters |
|
− |
|
0.03 |
|
Acquisition due diligence and integration costs |
|
− |
|
0.00 |
|
Net gain on sale of corporate headquarters (b) |
|
(0.06) |
|
0.00 |
|
Adjusted Diluted EPS |
$ |
0.57 |
$ |
1.11 |
|
Note: Amounts may not foot due to rounding.
Supplemental Reconciliation of Adjusted Net Income (Unaudited) (Dollars in Thousands) |
||||||
|
Nine Months Ended Fiscal December |
|
||||
2024 |
2023 |
|||||
Net Income |
$ |
16,093 |
$ |
33,871 |
|
|
Store impairment charges |
|
1,551 |
|
− |
|
|
Net loss on sale of wholesale tire and distribution assets (a) |
|
− |
|
304 |
|
|
Transition costs related to back-office optimization |
|
1,677 |
|
699 |
|
|
Store closing costs |
|
1,149 |
|
(26) |
|
|
Litigation reserve |
|
650 |
|
− |
|
|
Costs related to shareholder matters |
|
− |
|
1,355 |
|
|
Acquisition due diligence and integration costs |
|
− |
|
5 |
|
|
Net gain on sale of corporate headquarters (b) |
|
(2,566) |
|
155 |
|
|
Provision for income taxes on pre-tax adjustments (c) |
|
(689) |
|
(637) |
|
|
Adjusted Net Income |
$ |
17,865 |
$ |
35,726 |
|
|
| a) | Amounts include a loss on subsequent inventory adjustments on prior year sale of wholesale tire and distribution assets. |
|
| b) | Amounts include gain on sale of Corporate headquarters building, net of closing and relocation costs. |
|
| c) | The Company determined the Provision for income taxes on pre-tax adjustments by calculating the Company’s estimated annual effective tax rate on pre-tax income before giving effect to any discrete tax items and applying it to the pre-tax adjustments. |
___________________________
1Adjusted for one fewer selling day in the current year quarter due to a shift in the timing of the Christmas holiday from the fourth quarter in fiscal 2024 to the third quarter in fiscal 2025
View source version on businesswire.com: https://www.businesswire.com/news/home/20250129586170/en/
Investors and Media: Felix Veksler
Senior Director, Investor Relations
ir@monro.com
Source: Monro, Inc.
FAQ
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