Monro, Inc. Files 10-Q for Period Ending December 23, 2023

TL;DR

<b>Monro, Inc. has filed its Q3 FY2024 10-Q report, detailing financial performance and segment data.</b>

AI Summary

MONRO, INC. (MNRO) filed a Quarterly Report (10-Q) with the SEC on January 24, 2024. Monro, Inc. filed its 10-Q for the period ending December 23, 2023. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on March 30. Key financial statement items like Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are reported as of December 23, 2023. Specific revenue segments such as Maintenance, Tires, Steering, Franchise Royalties, Exhaust, and Brakes are detailed for the reporting period.

Why It Matters

For investors and stakeholders tracking MONRO, INC., this filing contains several important signals. This filing provides investors with the latest financial snapshot of Monro, Inc., crucial for understanding the company's performance and financial health. The detailed segment information allows for analysis of which service areas are contributing most to revenue and growth.

Risk Assessment

Risk Level: low — MONRO, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate red flags or significant negative developments.

Analyst Insight

Monitor future filings for trends in revenue segments and overall financial performance to assess growth strategies.

Revenue Breakdown

Key Numbers

• 2023-12-23 — Period End Date (10-Q filing)
• 2024-01-24 — Filing Date (10-Q filing)
• Q3 2024 — Fiscal Quarter (Reporting period)
• 0330 — Fiscal Year End (Company's fiscal year end)

Key Players & Entities

• MONRO, INC. (company) — Filer name
• MNRO (company) — Ticker symbol
• 20231223 (date) — Period of report
• 20240124 (date) — Filing date
• 7500 (industry_code) — Standard Industrial Classification
• NY (location) — State of incorporation and business address
• 160838627 (tax_id) — IRS number
• 19930328 (date) — Date of former company name change

FAQ

Key Dates

• 2023-12-23: Quarter End — End of the reporting period for the 10-Q filing.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share MNRO The Nasdaq Stock Mar

Filing Documents

• mnro-20231223x10q.htm (10-Q) — 3531KB
• mnro-20231223xex10_70.htm (EX-10.70) — 176KB
• mnro-20231223xex10_75.htm (EX-10.75) — 123KB
• mnro-20231223xex10_76.htm (EX-10.76) — 128KB
• mnro-20231223xex31_1.htm (EX-31.1) — 13KB
• mnro-20231223xex31_2.htm (EX-31.2) — 14KB
• mnro-20231223xex32_1.htm (EX-32.1) — 10KB
• mnro-20231223x10qg001.jpg (GRAPHIC) — 2KB
• 0001562762-24-000011.txt (&nbsp;) — 8404KB
• mnro-20231223.xsd (EX-101.SCH) — 32KB
• mnro-20231223_cal.xml (EX-101.CAL) — 59KB
• mnro-20231223_def.xml (EX-101.DEF) — 68KB
• mnro-20231223_lab.xml (EX-101.LAB) — 271KB
• mnro-20231223_pre.xml (EX-101.PRE) — 216KB
• mnro-20231223x10q_htm.xml (XML) — 1130KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited) Consolidated Balance Sheets 3 Consolidated Statements of Income and Comprehensive Income 4 Consolidated Statements of Changes in Shareholders' Equity 5 Consolidated Statements of Cash Flows 6

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 8

Management&apos;s Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management&apos;s Discussion and Analysis of Financial Condition and Results of Operations 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 23

Controls and Procedures

Item 4. Controls and Procedures 23

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 24

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24

Exhibits

Item 6. Exhibits 25

Signatures

Signatures 26 Monro, Inc. Q3 2024 Form 10-Q 2 Table of Contents CONSOLIDATED FINANCIAL STATEMENTS

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Ite m 1. Financial Statements Consolidated Balance Sheets (thousands, except footnotes) (unaudited) December 23, 2023 March 25, 2023 Assets Current assets Cash and equivalents $ 23,846 $ 4,884 Accounts receivable 14,434 13,294 Federal and state income taxes receivable 808 — Inventories 160,360 147,397 Other current assets 72,246 92,892 Total current assets 271,694 258,467 Property and equipment, net 284,563 304,989 Finance lease and financing obligation assets, net 189,774 217,174 Operating lease assets, net 205,244 211,101 Goodwill 736,435 736,457 Intangible assets, net 14,087 16,562 Assets held for sale 5,883 — Other non-current assets 24,971 29,365 Long-term deferred income tax assets 446 2,762 Total assets $ 1,733,097 $ 1,776,877 Liabilities and shareholders&apos; equity Current liabilities Current portion of finance leases and financing obligations $ 38,858 $ 39,982 Current portion of operating lease liabilities 38,953 37,520 Accounts payable 287,330 261,724 Federal and state income taxes payable — 541 Accrued payroll, payroll taxes and other payroll benefits 19,805 15,951 Accrued insurance 53,601 47,741 Deferred revenue 15,427 15,422 Other current liabilities 32,658 30,296 Total current liabilities 486,632 449,177 Long-term debt 94,000 105,000 Long-term finance leases and financing obligations 259,794 295,281 Long-term operating lease liabilities 184,777 191,107 Other long-term liabilities 10,168 10,721 Long-term deferred income tax liabilities 37,799 30,460 Long-term income taxes payable 209 209 Total liabilities 1,073,379 1,081,955 Commitments and contingencies - Note 9 Shareholders&apos; equity: Class C Convertible Preferred stock 29 29 Common stock 400 400 Treasury stock ( 250,115 ) ( 205,648

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) Note 1 Description of Business and Basis of Presentation 8 Note 2 Acquisitions and Divestitures 9 Note 3 Earnings per Common Share 10 Note 4 Income Taxes 10 Note 5 Fair Value 10 Note 6 Cash Dividend 10 Note 7 Revenues 11 Note 8 Long-term Debt 11 Note 9 Commitments and Contingencies 12 Note 10 Supplier Finance Program 12 Note 11 Share Repurchase 13 Note 12 Equity Capital Structure Reclassification 13 Monro, Inc. Q3 2024 Form 10-Q 7 Table of Contents CONSOLIDATED FINANCIAL STATEMENTS NOTES Note 1 – Description of Business and Basis of Presentation Description of business Monro, Inc. and its direct and indirect subsidiaries (together, "Monro", the "Company", "we", "us", or "our"), are engaged principally in providing automotive undercar repair and tire replacement sales and tire related services in the United States. Monro had 1,296 Company-operated retail stores located in 32 states and 51 franchised locations as of December 23, 2023. A certain number of our retail locations also service commercial customers. Our locations that serve commercial customers generally operate consistently with our other retail locations, except that the sales mix for these locations includes a higher number of commercial tires. Monro's operations are organized and managed as one single segment designed to offer to our customers replacement tires and tire related services, automotive undercar repair services as well as a broad range of routine maintenance services, primarily on passenger cars, light trucks and vans. We also provide other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension and wheel alignment. Basis of presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission ("SEC") app

View Full Filing

View this 10-Q filing on SEC EDGAR