Monro, Inc. Announces Second Quarter Fiscal 2020 Financial Results
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Monro Muffler (MNRO) Misses Q2 EPS by 11c, Revenues Miss; Raises FY20 Revenue Mid-Point Outlook, Lowers FY20 EPS Guidance Below Consensus
October 24, 2019 7:32 AM EDTMonro Muffler (NASDAQ: MNRO) reported Q2 EPS of $0.60, $0.11 worse than the analyst estimate of $0.71. Revenue for the quarter came in at $324.1 million versus the consensus estimate of $330.03 million.
We are disappointed in our second quarter results, which were significantly impacted by gross margin pressures related to higher than expected tire and labor costs. However, we believe the second quarter represents a low watermark for us this year, as we quickly took action to rectify our margin pressures in the near-term and are implementing initiatives to drive margin expansion moving forward. As a... More
