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) has appointed Matt Henson as Chief Human Resources Officer, effective immediately. Henson brings over 25 years of HR experience, including significant roles at AutoZone and Bloomin’ Brands. His expertise in talent acquisition and human capital management is expected to enhance Monro's employee engagement and diversity initiatives. CEO Mike Broderick highlighted Henson's alignment with the company's goals to build a high-performing team. Monro aims to leverage Henson's skills to advance its transformation and commitment to operational excellence.
Monro, Inc. (Nasdaq: MNRO) announced its first Corporate Responsibility Report, Monro.Forward Responsibly, covering fiscal year 2021. The report details Monro's commitment to Environmental, Social, and Governance (ESG) initiatives, emphasizing transparency and stakeholder engagement. Highlights include strengthened ESG oversight, enhanced teammate engagement leading to reduced turnover, and initiatives for diversity, community impact, and energy efficiency. Monro aims to continue evaluating ESG metrics in future reports. The 2021 report is accessible on their corporate website.
Monro, Inc. (MNRO) reported a fourth quarter sales increase of 6.8%, totaling $305.5 million, driven by a 9.4% rise in comparable store sales. Diluted EPS improved to $0.35. Fiscal 2021 operating cash flow surged 52% to approximately $185 million. The company increased its Q1 2022 cash dividend by 9% to $0.24 per share and completed the acquisition of 30 California-based stores, estimated to add $45 million in annualized sales. Despite these gains, fiscal 2021 sales fell 10.4% to $1.126 billion, impacted by the pandemic.
Monro, Inc. (Nasdaq: MNRO) will release its fiscal 2021 fourth quarter and full-year earnings on May 20, 2021. The earnings call is scheduled for 8:30 a.m. ET on the same day, with access available via dial-in and webcast. Monro operates 1,293 company stores and provides automotive repair and tire services across 32 states, marking significant growth through acquisitions. The company went public in 1991 and continues to expand its footprint in the automotive service industry.
Monro, Inc. (Nasdaq: MNRO) has appointed Michael Broderick as its new President and CEO, effective April 5, 2021. Broderick brings over 25 years of experience in the automotive aftermarket industry, previously serving at Advance Auto Parts where he drove growth and operational improvements. He aims to enhance Monro's growth strategy while leveraging its strong cash flow and solid balance sheet for expansion opportunities. Interim CEO Robert Mellor will remain as Chairman of the Board, signaling continuity in leadership as Monro seeks to strengthen its market position.
Monro, Inc. (Nasdaq: MNRO) has announced the acquisition of 30 Mountain View Tire & Service stores in California, enhancing its presence in the western U.S. The deal, valued at an expected $45 million in annualized sales, is part of Monro's growth strategy through strategically located acquisitions. This acquisition will expand Monro's footprint to a total of 116 stores in California, contributing to the company’s overall projected annualized sales of $65 million from acquisitions made in fiscal 2021. The transaction is anticipated to close in Q1 of fiscal 2022.
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding common stock. This dividend is payable on March 24, 2021, to shareholders recorded as of March 10, 2021. Headquartered in Rochester, New York, Monro operates a chain of 1,260 company stores across 32 states, focusing on automotive undercar repair and tire services. The company has seen growth through acquisitions and new store openings since its IPO in 1991.
Monro, Inc. (Nasdaq: MNRO) reported third-quarter sales of $284.6 million, down 13.6% year-over-year, with a comparable store sales decline of 13%. The company achieved a year-to-date operating cash flow of approximately $159 million. Despite challenges, including a 400 basis point decrease in gross margin to 33.8%, Monro completed the acquisition of 17 stores in Southern California, expected to generate $20 million in annualized sales. The quarter ended with net income of $6.7 million, compared to $18.9 million the previous year, and diluted EPS decreased to $0.20 from $0.56.
Monro, Inc. (Nasdaq: MNRO) has declared a quarterly cash dividend of $.22 per share on its outstanding shares, including Class C Convertible Preferred Stock. The dividend will be payable on December 22, 2020 to shareholders recorded by December 8, 2020. Monro operates 1,242 company-owned stores and 97 franchised locations across 32 states, specializing in automotive undercar repair and tire services. The company has seen significant growth through acquisitions since its public debut in 1991.
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