Monro (MNRO) Earnings Call Presentation

Company Overview - Monro, Inc is a leading national automotive service and tire provider with 1,296 locations in 32 states[10, 13] - The company's fiscal 2023 sales reached $1,325.4 million[7] - Monro has expanded through 33 acquisitions in the past 9 years, adding 429 locations and $626 million in revenue, entering 10 new states[10] Industry Trends - The automotive aftermarket's "Do-It-For-Me" (DIFM) segment is valued at $311 billion, within the larger $389 billion U S automotive aftermarket industry[24] - The number of vehicles in operation (VIO) is over 280 million, with an increasing average vehicle age of approximately 12 years[23] Financial Performance - In the third quarter of fiscal year 2024, sales decreased by 5.2% to $317.7 million, primarily due to lower tire unit sales[32, 36] - Comparable store sales decreased by 6.1% in Q3FY24, compared to an increase of 5.6% in Q3FY23[32, 36] - The gross margin improved to 35.5% in Q3FY24, a 170 basis points increase from 33.8% in Q3FY23[36] - Adjusted diluted EPS for Q3FY24 was $0.39, a 9.3% decrease compared to $0.43 in Q3FY23[36] Capital Allocation - Year-to-date fiscal 2024, Monro generated approximately $130 million in operating cash flow[32, 40] - The company repurchased approximately 1.5 million shares of common stock at an average price of $28.50, totaling approximately $44 million[40]