Monro Q4 Results Miss Estimates
(RTTNews) - Automotive service provider Monro, Inc. (MNRO) reported that net income for the fourth quarter surged to $3.7 million or $0.12 per share from $0.4 million or $0.01 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.21 per share, compared to $0.08 per share in the year-ago quarter.
On average, five analysts polled by Thomson Reuters expected the company to report earnings of $0.30 per share for the quarter. Analysts' estimates typically exclude special items.
Sales for the quarter edged down 0.2 percent to $310.1 million from $310.8 million in the same quarter last year. Analysts expected revenues of $320.24 million for the quarter.
Comparable store sales increased 0.1 percent on a reported basis and decreased 7.2 percent when adjusted for days.
The Company also announced its Board of Directors has approved a cash dividend for the first quarter of fiscal year 2025 of $.28 per share, payable on June 18, 2024 to shareholders of record on June 4, 2024.
Looking ahead, Monro said it is not providing fiscal 2025 financial guidance at this time but will provide perspective on its expectations for the fiscal first quarter as well as the full year of fiscal 2025 during its earnings conference call.
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