Auto services provider Monro (NASDAQ:MNRO) will be reporting results this Wednesday before market open. Here’s what investors should know.
Monro missed analysts’ revenue expectations by 2.8% last quarter, reporting revenues of $288.9 million, down 4.1% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and a beat of analysts’ EPS estimates.
Is Monro a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Monro’s revenue to decline 3.5% year on year to $295.2 million, in line with the 3.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.14 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. Monro has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Monro’s peers in the automotive and marine retail segment, only CarMax has reported results so far. It beat analysts’ revenue estimates by 3.3%, posting year-on-year sales declines of 6.9%. The stock was down 6.3% on the results.
Read our full analysis of CarMax’s earnings results here.There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 4.7% on average over the last month. Monro’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $20.67 (compared to the current share price of $20.23).
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