The following is a summary of the Monro, Inc. (MNRO) Q4 2024 Earnings Call Transcript:
Financial Performance:
Monro's Q4 sales slightly decreased 0.2% year-over-year, reaching $310.1 million, with comparable store sales up 0.1% on a reported basis.
Gross margin improved 210 basis points from the prior year, primarily due to shrunk technician labor costs and decreased material costs as a percentage of sales.
Operating income for the quarter rose to $10.3 million, or 3.3% of sales, from $6.2 million, or 2% of sales, in the previous year.Net income amounted to $3.7 million, greatly improving from $400,000 in the preceding period.
Diluted earnings per share were $0.12, compared to $0.01 for the same period last year.
In Fiscal Year 2024, Monro generated $125 million of cash from operations, reducing its cash conversion cycle by 37 days at the end of Q4 compared to 2023.
Business Progress:
Continued focus on improving its 300 small or underperforming stores and maintaining a balanced approach between tire and service categories to drive store traffic.
Leverages strong vendor partnerships to optimize inventories that result in better availability, quality, and cost of parts and tires in the stores.
Plans to accelerate investment in its AI platform to support business growth.
The company strives to restore gross margins to pre-COVID levels and achieve double-digit operating margins over the long term.
Monro intends to maintain its dividend and expects capital expenditures between $25 million to $35 million in fiscal 2025.
More details: Monro IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.