Monro reports Q2 EPS 18c, consensus 18c

Reports Q2 revenue $288.91M, consensus $300.64M. Q2 comparable store sales increased 1.1%. “The Monro (MNRO) team drove comparable store sales growth again in the second quarter, which has enabled us to report three consecutive quarters of positive comps for the first time in a couple of years. Further, our business generated an increase in adjusted diluted earnings per share compared to the prior year second quarter. We achieved this through solid gross margin performance, with a gross margin rate that expanded 40 basis points to 35.7% and prudent operating cost control, as reflected in lower store direct costs and good corporate expense control. For the second quarter in a row, we reduced inventory levels across the system, this time by approximately $11 million, which reflects improved inventory management. These results serve as an indication of continued progress toward building enhanced profitability in fiscal 2026″, said Peter Fitzsimmons, president and CEO.