Yahoo Finance Monro (MNRO) Reports Q2: Everything You Need To Know Ahead Of Earnings
Auto services provider Monro (NASDAQ:MNRO) will be announcing earnings results tomorrow morning. Here's what to expect.
Monro missed analysts' revenue expectations by 3.2% last quarter, reporting revenues of $310.1 million, flat year on year. It was a weak quarter for the company, with a miss of analysts' earnings estimates.
Is Monro a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Monro's revenue to decline 10.2% year on year to $293.6 million, a further deceleration from the 6.5% decrease it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Monro has missed Wall Street's revenue estimates six times over the last two years.
Looking at Monro's peers in the automotive and marine retail segment, some have already reported their Q2 results, giving us a hint as to what we can expect. O'Reilly delivered year-on-year revenue growth of 5%, missing analysts' expectations by 1.1%, and Genuine Parts reported flat revenue, falling short of estimates by 1.2%. O'Reilly traded up 3.8% following the results while Genuine Parts was down 1.9%.
Read our full analysis of O'Reilly's results here and Genuine Parts's results here.
There has been positive sentiment among investors in the automotive and marine retail segment, with share prices up 4% on average over the last month. Monro is up 8.6% during the same time and is heading into earnings with an average analyst price target of $25 (compared to the current share price of $25.51).
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