Monro, Inc. Files Q3 FY25 10-Q

TL;DR

Monro's Q3 FY25 10-Q is in, check the balance sheet for Dec 28, 2024.

AI Summary

Monro, Inc. filed its 10-Q for the period ending December 28, 2024. The filing covers the third quarter of fiscal year 2025. Key financial data points such as retained earnings, additional paid-in capital, and accumulated other comprehensive income as of December 28, 2024, and September 28, 2024, are detailed. The company's fiscal year ends on March 29.

Why It Matters

This filing provides investors with an update on Monro, Inc.'s financial position and performance for the third quarter of fiscal year 2025, crucial for understanding the company's ongoing health and strategic direction.

Risk Assessment

Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new disclosures.

Key Numbers

• 2024-12-28 — Fiscal Period End (Latest reporting date for financial statements.)
• 2024-09-28 — Prior Balance Sheet Date (Date of the previous balance sheet presented.)
• 0329 — Fiscal Year End (Indicates the end of the company's fiscal year.)

Key Players & Entities

• MONRO, INC. (company) — Filer
• 2024-12-28 (date) — Reporting period end date
• 20250129 (date) — Filing date
• 2024-09-28 (date) — Prior period balance sheet date

FAQ

Key Financial Figures

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

Filing Documents

• mnro-20241228x10q.htm (10-Q) — 3355KB
• mnro-20241228xex10_02c.htm (EX-10.02C) — 29KB
• mnro-20241228xex31_1.htm (EX-31.1) — 13KB
• mnro-20241228xex31_2.htm (EX-31.2) — 14KB
• mnro-20241228xex32_1.htm (EX-32.1) — 10KB
• mnro-20241228x10qg001.jpg (GRAPHIC) — 2KB
• 0001562762-25-000015.txt ( ) — 7563KB
• mnro-20241228.xsd (EX-101.SCH) — 32KB
• mnro-20241228_cal.xml (EX-101.CAL) — 57KB
• mnro-20241228_def.xml (EX-101.DEF) — 65KB
• mnro-20241228_lab.xml (EX-101.LAB) — 262KB
• mnro-20241228_pre.xml (EX-101.PRE) — 210KB
• mnro-20241228x10q_htm.xml (XML) — 1042KB

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's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management'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

Risk Factors

Item 1A. Risk Factors 24

Exhibits

Item 6. Exhibits 25

Signatures

Signatures 26 Monro, Inc. Q3 2025 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 28, 2024 March 30, 2024 Assets Current assets Cash and equivalents $ 10,161 $ 6,561 Accounts receivable 12,107 11,738 Federal and state income taxes receivable 2,605 — Inventory 176,544 154,085 Other current assets 72,255 80,905 Total current assets 273,672 253,289 Property and equipment, net 268,593 280,154 Finance lease and financing obligation assets, net 172,822 180,803 Operating lease assets, net 190,074 202,718 Goodwill 736,435 736,435 Intangible assets, net 11,082 13,298 Assets held for sale — 6,961 Other non-current assets 17,251 19,156 Total assets $ 1,669,929 $ 1,692,814 Liabilities and shareholders' equity Current liabilities Current portion of finance leases and financing obligations $ 38,660 $ 38,233 Current portion of operating lease liabilities 39,809 39,442 Accounts payable 316,770 251,940 Accrued payroll, payroll taxes and other payroll benefits 12,644 21,205 Accrued insurance 55,770 55,547 Deferred revenue 14,916 15,155 Other current liabilities 29,144 33,634 Total current liabilities 507,713 455,156 Long-term debt 59,250 102,000 Long-term finance leases and financing obligations 232,706 249,484 Long-term operating lease liabilities 168,070 181,852 Other long-term liabilities 10,610 10,585 Long-term deferred income tax liabilities 42,657 36,962 Total liabilities 1,021,006 1,036,039 Commitments and contingencies - Note 9 Shareholders' equity: Class C convertible preferred stock 29 29 Common stock 401 400 Treasury stock ( 250,111 ) ( 250,115 ) Additional paid-in capital 256,900 254,484 Accumulated other comprehensive loss ( 3,350 ) ( 3,451 ) Retained earnings 645,054 655,428 To

Notes to Consolidated Financial Statements (unaudited)

Notes to Consolidated Financial Statements (unaudited) Note 1 Description of Business and Basis of Presentation 8 Note 2 Divestiture 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 13 Note 11 Equity Capital Structure Reclassification 13 Monro, Inc. Q3 2025 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 1,263 Company-operated retail stores located in 32 states and 47 Car-X franchised locations as of December 28, 2024. 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") applicable to interim financial statements. Whi

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