Monro Inc hits over 2-year low as Q4 profit misses

Monro

19/05/2022 15:48

** Automotive repair company's shares  MNRO.O  down 9.9% at
$39.32
    ** Stock hits more than two-year low; on track for biggest
one-day pct decline since July 2021, if losses hold
    ** MNRO reports Q4 adj profit of 20 cents/shr vs est 46
cents/shr - Refinitiv data  urn:newsml:reuters.com:*:nASA03D1W
    ** Company says gross margin pressured due to "significant
investments" in technician headcount
    ** Q4 gross margin down 320 basis points to 31.9%
    ** Company reports Q4 net income of $8.6 mln vs $11.8 mln
last year
    ** All 8 analysts covering the stock rate it "hold"; median
PT $60 - Refinitiv 
    ** Including session's losses, shares down ~32% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com))