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Dec 24, 2022
Monro Q3 2023 Earnings Report
Monro's sales decreased due to the divestiture of wholesale tire and distribution assets, while comparable store sales increased, driven by strong performance in small or underperforming stores.
Key Takeaways
Monro, Inc. reported a decrease in sales by 1.9% to $335.2 million for the third quarter of fiscal year 2023, primarily due to the divestiture of its Wholesale tire and distribution assets. However, comparable store sales increased by 5.6%, driven by a significant increase in small or underperforming stores. Diluted EPS was reported at $0.41, with an adjusted diluted EPS of $0.43.
Sales decreased by 1.9% to $335.2 million due to the divestiture of Wholesale tire and distribution assets.
Comparable store sales increased by 5.6%, with a notable 12% increase in small or underperforming stores.
Diluted EPS was $0.41, and adjusted diluted EPS was $0.43.
The company repurchased approximately 584,000 shares of its common stock during the quarter.
Forward Guidance
Monro is not providing fiscal 2023 financial guidance at this time but will provide perspective on its outlook for fiscal 2023 during its earnings conference call.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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