Monro Q1 sales fall 4.6%, but slightly beat estimates
Monro Q1 sales fall 4.6%, but slightly beat estimates
Overview
U.S. auto repair chain's fiscal Q1 sales fell 4.6% but slightly beat analyst expectations
Adjusted EPS for fiscal Q1 missed analyst expectations, turning negative year-over-year
Outlook
Monro is not providing fiscal 2027 financial guidance at this time
Company says operating environment remains challenging with lower store traffic and deferred spending
Monro expects operational progress to support improved performance as consumer spending stabilizes
Result Drivers
STORE CLOSURES - Co said sales fell mainly due to $9 mln in lost sales from closure of 145 underperforming stores in prior year
LOWER TRAFFIC & DEFERRED SPENDING - Co said comparable store sales declined 1.7% as customers deferred higher-ticket spending in tires and brakes and traded down to lower-cost alternatives
SERVICE CATEGORY MIX - Co said growth in batteries and alignments offset declines in maintenance services and brakes
Company press release: ID:nBw9ZwzpHa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Sales | Slight Beat* | $287.13 mln | $286.54 mln (5 Analysts) |
Q1 Adjusted EPS | Miss | -$0.09 | $0.01 (5 Analysts) |
Q1 Loss Per Share |
| $0.08 |
|
Q1 Net Loss |
| $2.15 mln |
|
*Applies to a deviation of less than 1%; not applicable for per-share numbers.
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy"
Wall Street's median 12-month price target for Monro Inc is $18.75, about 9% above its July 28 closing price of $17.20
The stock recently traded at 44 times the next 12-month earnings vs. a P/E of 24 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)