Monro Muffler (MNRO) Misses Q3 EPS by 1c; Lowers Outook

Monro Muffler (NASDAQ: MNRO) reported Q3 EPS of $0.46, $0.01 worse than the analyst estimate of $0.47. Revenue for the quarter came in at $238.9 million versus the consensus estimate of $241.86 million.

GUIDANCE:

Monro Muffler sees FY2016 EPS of $2.00-$2.05, versus prior guidance of $2.07-$2.17. Monro Muffler sees FY2016 revenue of $947-955 million, versus prior guidance of $955-970 million.

John Van Heel, President and Chief Executive Officer stated, “Our results for the third quarter are in line with our recent business update. Our weaker than expected earnings were the result of lower tire sales, particularly in November, driven by unseasonably warm weather across our markets. However, with recent winter weather in our markets, we are very encouraged to see that traffic and tire sales trends have rebounded, resulting in an approximate 10% increase in comparable store sales for our January fiscal month, which ended on January 23rd.”

For earnings history and earnings-related data on Monro Muffler (MNRO) click here.

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