Auto services provider Monro (NASDAQ: MNRO) will be reporting results tomorrow morning. Here’s what investors should know.
Monro missed analysts’ revenue expectations by 1.5% last quarter, reporting revenues of $305.8 million, down 3.7% year on year. It was a disappointing quarter for the company, with a significant miss of analysts’ EBITDA estimates and a significant miss of analysts’ EPS estimates.
Is Monro a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Monro’s revenue to decline 6.6% year on year to $289.5 million, a deceleration from its flat revenue in the same quarter last year. Adjusted earnings are expected to come in at $0.03 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings.
Looking at Monro’s peers in the auto parts retailer segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Advance Auto Parts’s revenues decreased 6.8% year on year, beating analysts’ expectations by 3.1%, and Genuine Parts reported revenues up 1.4%, topping estimates by 0.5%. Advance Auto Parts traded up 55.6% following the results while Genuine Parts was also up 3.8%.
Read our full analysis of Advance Auto Parts’s results here and Genuine Parts’s results here.
There has been positive sentiment among investors in the auto parts retailer segment, with share prices up 8.8% on average over the last month. Monro is down 12.3% during the same time and is heading into earnings with an average analyst price target of $18.33 (compared to the current share price of $12.69).
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