Welcome to our dedicated page for Monro news (Ticker: MNRO), a resource for investors and traders seeking the latest updates and insights on Monro stock.
Monro, Inc., headquartered in Rochester, New York, is a prominent player in the automotive service industry in the United States. The company operates over 1,000 service stations across 25 states, primarily serving the eastern half of the country. Monro provides a comprehensive range of services focused on undercar maintenance, including brake, steering, exhaust, drivetrain, and suspension systems, as well as tire sales and services.
Monro, Inc. is dedicated to being the leading automotive service provider in its markets by offering consumers and businesses superior value through high-quality service at competitive prices, coupled with exceptional convenience and customer service. The company also strives to be a rewarding place for its employees by fostering a motivating and supportive work environment, while simultaneously delivering superior returns to its shareholders.
Recently, Monro announced a significant partnership with BFGoodrich Tires as the 'Official Auto Repair and Tire Partner' for the 2024 World's Strongest Man competition. This collaboration emphasizes Monro's commitment to showcasing the strength and durability of BFGoodrich tires and includes a limited-time promotion offering a free alignment with the purchase of a set of four BFGoodrich tires.
Monro's financial performance continues to reflect its strategic initiatives and market leadership. The company remains focused on expanding its footprint, enhancing its service offerings, and leveraging partnerships to drive growth and customer satisfaction.
For career opportunities at Monro, visit the company’s careers section at http://careers.monro.com, where you can view current openings and download an employment application.
Monro, Inc. (NASDAQ: MNRO) reported third quarter fiscal 2023 sales of $335.2 million, a decrease of 1.9% year-over-year due to divesting wholesale tire assets that generated $27.7 million in sales last year. Comparable store sales rose 5.6%, driven by a 12% increase in around 300 smaller stores. Diluted EPS was $0.41, adjusted EPS was $0.43. Gross margin decreased by 150 basis points to 33.8% due to a higher mix of tire sales and increased labor costs. The company generated record cash flow of approximately $171 million in nine months and repurchased around 584,000 shares. Monro announced an asset purchase agreement for five new stores expected to add $6 million in annual sales.
Monro, Inc. (NASDAQ: MNRO), a leading automotive service provider, is set to release its fiscal 2023 third quarter earnings on January 25, 2023. A conference call will follow at 8:30 a.m. Eastern Time on the same day. The company generated approximately $1.4 billion in sales in fiscal 2022 and operates around 1,300 stores with 9,000 service bays nationwide. Monro focuses on sustainable growth, expanding its market share through strategic acquisitions and new store openings.
Monro, Inc. (NASDAQ: MNRO) has launched initiatives to enhance customer experiences for winter driving. Key changes include free battery checks and the elimination of installation charges for batteries. The company is also enhancing services with extended store hours, a walk-in oil service option, and a new integration with CARFAX for service history. Moreover, Monro's partnership with American Tire Distributors has boosted tire inventory for winter sales, offering promotions like rebates and free tire installations. This strategic focus is aimed at improving competition and customer engagement.
Monro, Inc. (NASDAQ: MNRO) has declared a quarterly cash dividend of $.28 per share, payable on December 20, 2022, to shareholders of record as of December 6, 2022. The company reported approximately $1.4 billion in sales for fiscal 2022 and aims for sustainable growth through strategic acquisitions and new store openings. With around 1,300 stores and 9,000 service bays across the U.S., Monro continues to focus on providing high-quality automotive care and services.
Monro, Inc. (NASDAQ: MNRO) has secured a new $600 million revolving line of credit, amending its existing credit facility. This amendment alters the interest rate calculation from LIBOR to 0.10% over SOFR and extends the facility's expiration from 2024 to 2027. The funds will be used for refinancing debt, acquisitions, and general corporate purposes. Citizens Bank led the nine-bank group facilitating this extension, reflecting confidence in Monro's financial stability and growth strategy.
Monro, Inc. (NASDAQ: MNRO), a top automotive service provider, will participate in a Fireside Chat at the Stephens Annual Investment Conference on November 16, 2022, at 12:00 PM CT. Key executives, including CEO Michael T. Broderick and CFO Brian D’Ambrosia, will represent the company. A live webcast of the event can be accessed through the Investors section of Monro's corporate website.
In fiscal 2022, Monro achieved approximately $1.4 billion in sales and operates around 1,300 stores nationwide.
Monro, Inc. (NASDAQ: MNRO), a top automotive service provider, will have its executives, including CEO Michael T. Broderick and CFO Brian D’Ambrosia, participate in a Fireside Chat at the Gabelli & Co. Conference on November 1, 2022, at 10:30 AM PT. A live webcast will be accessible on the company’s corporate website. Monro generated approximately $1.4 billion in sales in fiscal 2022 and operates around 1,300 stores with 9,000 service bays nationwide, focusing on delivering high-quality auto care and sustainable growth.
Monro, Inc. (MNRO) reported a 5.1% decline in second-quarter sales to $329.8 million, primarily due to the divestiture of wholesale tire assets. Comparable store sales showed a 1.3% increase, supported by ~10% growth in underperforming stores. The diluted EPS dropped to $0.40, down from $0.62 in the prior year. Gross margin decreased 220 basis points to 35.4%, driven by higher tire sales and inflation impacts. The company repurchased ~1.2 million shares, maintaining a strong cash position with $120 million generated from operations.
Monro, Inc. (NASDAQ: MNRO) will announce its fiscal 2023 second quarter earnings on October 26, 2022. The company will host a conference call and audio webcast at 8:30 a.m. Eastern Time on the same day. Investors can access the call by dialing 1-833-927-1758 using access code 740974. A replay will be available shortly after, and a recording can also be accessed via the company’s website. Monro is a leading provider of auto care and tire services with over 1,300 stores and $1.4 billion in sales reported for fiscal 2022.
Monro, Inc. (NASDAQ: MNRO) reports that six Tire Choice Auto Service Center locations in Florida are closed due to Hurricane Ian, while 102 stores remain operational to assist affected residents. The closed stores include four in Cape Coral, Port Charlotte, and Venice due to power outages and two in Fort Myers and Naples that sustained significant storm damage. Monro emphasizes the safety of its employees and the community, urging customers to verify store hours following adverse weather. The company generates approximately $1.4 billion in sales, with over 1,300 stores nationwide.
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