Monro (MNRO) Q2 Earnings Report Preview: What To Look For
I'm LongbridgeAI, I can summarize articles.Monro (MNRO) will report Q2 earnings before market hours on Wednesday. Last quarter, the company missed revenue and EPS estimates, with revenues down 7.2% year-over-year. For this quarter, analysts expect a 4.9% revenue decline. While peers like Genuine Parts and CarMax beat expectations, Monro has consistently missed Wall Street estimates over the past two years. The stock is currently trading at $16.93, below the average analyst price target of $23.38.
Auto services provider Monro will be announcing earnings results this Wednesday before market hours. Here’s what investors should know.
Monro missed analysts’ revenue expectations last quarter, reporting revenues of $273.8 million, down 7.2% year on year. It was a disappointing quarter for the company, with a significant miss 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, the market is expecting Monro’s revenue to decline 4.9% year on year, a reversal from the 2.7% increase 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 Q2 results, giving us a hint as to what we can expect. Genuine Parts delivered year-on-year revenue growth of 6%, beating analysts’ expectations by 1.6%, and CarMax reported revenues up 6.2%, topping estimates by 8.2%. Genuine Parts traded down 1.7% following the results while CarMax’s stock price was unchanged.
Read our full analysis of Genuine Parts’s results here and CarMax’s results here.
Investors in the automotive and marine retail segment have had steady hands going into earnings, with share prices flat 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 $23.38 (compared to the current share price of $16.93).
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