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) held its 2022 Annual Meeting of Shareholders, where a majority of its director slate was approved. Notably, two directors failed to secure majority votes but will remain until the 2023 meeting. The board is committed to exploring recapitalization options, aiming for one vote per share among all stock classes. They plan to expand the board to include candidates with skills aligned with shareholder interests. The company reports strong performance with $1.4 billion in sales in fiscal 2022 and continues to focus on sustainable growth across its 1,300+ locations.
Monro, Inc. (NASDAQ: MNRO) has declared a quarterly cash dividend of $.28 per share on its outstanding common stock, including Class C Convertible Preferred Stock. This dividend is scheduled for payment on September 6, 2022, to shareholders on record by the close of business on August 23, 2022. The company reported $1.4 billion in sales during fiscal 2022 and maintains over 1,300 stores and 9,000 service bays across the country, emphasizing its commitment to sustainable growth and customer service.
Monro, Inc. (NASDAQ: MNRO) reported a 2.3% increase in Q1 sales to $349.5 million for the period ending June 25, 2022. Comparable store sales rose 2.8%, primarily due to a 15% increase in approximately 300 small stores. However, gross margin fell 180 basis points to 35.0% due to increased technician costs. Net income dropped to $12.5 million from $15.7 million, with diluted EPS at $.37, down from $.46. Monro completed the divestiture of non-core assets for $102 million, boosting cash flow and enhancing focus on retail operations.
Monro, Inc. (NASDAQ: MNRO) will announce its fiscal 2023 first quarter earnings on July 27, 2022. A conference call will follow at 8:30 a.m. Eastern Time on the same day, accessible by dialing 1-844-200-6205 with access code 910290. A replay will be available after the call and can be accessed until August 10, 2022. Monro reported approximately $1.4 billion in sales for fiscal 2022 and operates over 1,300 stores nationwide, focusing on providing automotive services and expanding through strategic acquisitions.
Monro, Inc. (NASDAQ: MNRO) has published its second annual Corporate Responsibility Report, highlighting significant efforts in environmental, social, and governance (ESG) initiatives for fiscal year 2022. The report emphasizes teammate safety and energy efficiency as primary goals. Highlights include diversity initiatives, energy-saving measures, community engagement strategies, and improved cybersecurity. Monro generated approximately $1.4 billion in sales in fiscal 2022, reflecting its commitment to sustainable growth and expanding market presence.
Monro, Inc. has finalized the sale of its wholesale tire and distribution assets to American Tire Distributors (ATD). This transaction includes seven facilities in Kentucky, North Carolina, South Carolina, and Tennessee, servicing over 3,500 customer locations annually. Monro will leverage ATD's distribution network to enhance its retail operations across 1,304 stores in the U.S. The partnership is expected to improve operational efficiencies and reduce environmental impact.
Monro, Inc. (NASDAQ: MNRO) will present at the Oppenheimer 22nd Annual Consumer Growth and E-Commerce Conference on Tuesday, June 14, 2022, at 9:00 AM ET. Brian D’Ambrosia, Executive Vice President and CFO, along with Felix Veksler, Senior Director of Investor Relations, will represent the company. A live webcast will be available on the company’s corporate website, and it will be archived for 90 days. Monro generated approximately $1.4 billion in sales in fiscal 2022 and continues to expand its presence with over 1,300 stores nationwide.
American Tire Distributors (ATD) and Monro, Inc. (MNRO) announced a definitive agreement for ATD to acquire Monro's wholesale tire distribution assets, known as Tires Now, for $105 million. The transaction includes an upfront payment of $65 million and $40 million based on future tire purchases. This deal strengthens ATD’s supply chain capabilities and supports Monro’s focus on retail expansion. The acquisition is expected to close by the end of Q2 2022, pending regulatory approvals.
Monro, Inc. (NASDAQ: MNRO) reported a 7.4% increase in fourth-quarter sales to $328.0 million compared to $305.5 million last year, with comparable store sales up 1.4%. The fourth-quarter diluted EPS was $.25, down from $.35 year-over-year. The company announced a divestiture of non-core wholesale assets for $105 million and increased its cash dividend by $.02 to $.28 per share. Additionally, a $150 million share repurchase program was authorized. For fiscal 2022, sales rose 20.8% to $1.359 billion.
Monro, Inc. (NASDAQ: MNRO), a leading provider of automotive undercar repair and tire services, is set to announce its fiscal 2022 fourth quarter and year-end earnings on May 19, 2022. An accompanying conference call will take place at 8:30 a.m. Eastern Time on the same day, allowing investors to gain insights into the company’s performance. Monro generated $1.1 billion in sales in fiscal 2021 and continues to expand its market presence and service capabilities with approximately 1,300 stores and 9,000 service bays across the nation.
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