Monro (MNRO) reports earnings tomorrow: what to expect
Auto services provider Monro (NASDAQ:MNRO) will be reporting earnings this Thursday before the bell. Here’s what investors should know.
Monro met analysts’ revenue expectations last quarter, reporting revenues of $287.1 million, down 4.6% year on year. It was a softer quarter for the company, with a significant miss of analysts’ EPS estimates and a slight miss of analysts’ gross margin estimates.
Is Monro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Monro’s revenue to decline 1.7% year on year, improving from the 4.1% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Monro has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Monro’s peers in the automotive and marine retail segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Genuine Parts delivered year-on-year revenue growth of 4.2%, meeting analysts’ expectations, and AutoZone reported revenues up 5.6%, falling short of estimates by 1.6%. Genuine Parts traded down 4.1% following the results while AutoZone was up 1.4%.
Read our full analysis of Genuine Parts’s results here and AutoZone’s results here.
There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 4.8% on average over the last month. Monro is up 5.7% during the same time and is heading into earnings with an average analyst price target of $21.75 (compared to the current share price of $14.16).
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