Monro Q3 Results Miss Estimates

Monro Muffler Brake

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(RTTNews) - Automotive service and tire provider Monro, Inc. (MNRO) reported Wednesday that net income for the third quarter plunged to $4.58 million or $0.15 per share from $12.17 million or $0.38 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.19 per share, compared to $0.39 per share in the year-ago quarter.

On average, six analysts polled by Thomson Reuters expected the company to report earnings of $0.29 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter decreased 3.7 percent to $305.77 million from $317.65 million in the same quarter last year. Analysts expected revenues of $311.13 million for the quarter.

Comparable store sales decreased 0.8 percent on a reported basis and decreased 1.9 percent when adjusted for days.

Looking ahead, Monro said it 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.

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