Monro reports Q3 EPS 19c, consensus 29c

Reports Q3 revenue $305.8M, consensus $311.13M.Comparable store sales decreased 0.8%1, a 500 basis point improvement from a decrease of 5.8% in the second quarter of fiscal 2025. The third quarter of fiscal 2024 had 90 selling days compared to 89 selling days in the third quarter of fiscal 2025. Comparable store sales, unadjusted for days, decreased 1.9%. This compares to a decrease in comparable store sales of 6.1% in the prior year period…During the third quarter of fiscal 2025, the Company closed 9 stores. Monro (MNRO) ended the quarter with 1,263 company-operated stores and 48 franchised locations. “We drove a sequential improvement in our year-over-year comparable store sales percentage change from the second quarter and returned our business to year-over-year comparable store sales growth in the month of December, when adjusted for a shift in the timing of the Christmas holiday. Importantly, the year-over-year comparable store sales percentage change in both our tire dollar and unit sales improved sequentially from the second quarter and our tire category comped positive in the month of December, when adjusted for the holiday shift, with year-over-year growth in units in the quarter. Our ConfiDrive digital courtesy inspection process and our oil change offer allowed us to drive sequential improvement in our year-over-year service category comparable store sales percentage change from the second quarter. We drove year-over-year growth in both units and sales dollars for batteries, alignments and front/end shocks. Our preliminary fiscal January comparable store sales are down 1%, adjusted for one additional selling day in the month. This is driven by weakness in tire category sales that were impacted by extreme weather, which resulted in temporary store closures and lower store traffic, partially offset by strength in our service categories, including brakes. We believe the extreme weather in January will benefit us in the coming months”, said Mike Broderick, President and Chief Executive Officer. Broderick continued, “With our commitment to sales and unit growth and improving our customer counts, we expect to leverage our initiatives to achieve our fourth quarter objectives.”