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. (NASDAQ: MNRO) is described in its public communications as one of the nation’s leading automotive service and tire providers, with a focus on automotive undercar repair and tire services. The Monro, Inc. (MNRO) news feed on Stock Titan brings together company-issued press releases and other coverage so readers can follow developments affecting this automotive service and tire business.
News about Monro frequently centers on its financial performance and earnings reporting. The company regularly announces dates for quarterly earnings releases and related conference calls and audio webcasts, where it discusses results such as comparable store sales, gross margin trends, operating income, and cash flow. These updates provide insight into how Monro’s store portfolio, undercar repair services, tire sales, and maintenance offerings are performing over time.
Monro’s news flow also includes corporate actions and capital allocation decisions. The company issues press releases when its board of directors declares quarterly cash dividends on its common stock, and it has announced the adoption of a limited-duration shareholder rights plan designed to address significant accumulations of its shares. Leadership and governance developments, such as employment agreements with senior executives or participation in investor conferences and automotive or growth-focused symposiums, are also disclosed through news releases.
For readers tracking MNRO, this news page offers a centralized view of updates related to automotive undercar repair and tire services, financial results, dividends, governance decisions, and strategic initiatives described by the company. Investors, analysts, and others interested in Monro’s business can use this stream of information to monitor how the company communicates its performance improvement plan, store portfolio decisions, merchandising approach, and broader corporate priorities over time.
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.
Summary not available.
Monro, Inc. (MNRO) reported Q2 sales of $288.6 million, an 11% decline from $324.1 million the previous year. This was attributed to an 11.4% drop in comparable store sales, affected by the COVID-19 pandemic. Operating income fell to $24.4 million (8.5% of sales), with net income at $12.8 million, down from $20.3 million. Despite challenges, the company generated ~$126 million in operating cash flow, a significant increase from $80 million year-over-year. Monro signed an agreement to acquire 17 stores in Southern California, expected to add ~$20 million in annual sales.
Monro, Inc. (Nasdaq: MNRO) will release its fiscal 2021 second quarter earnings on October 28, 2020. An audio conference call is scheduled for the same day at 8:30 a.m. Eastern Time, which will be accessible by dialing 1-877-425-9470 with passcode 13711783. A replay will be available for two weeks post-call. Monro operates 1,242 company stores and has grown through acquisitions since its inception in 1957.