Monro Inc (NASDAQ:MNRO) stock was down Monday on a revenue miss for its fiscal fourth quarter of 2018.
During its fiscal fourth quarter of the year, Monro Inc reported revenue of $285.58 million. This represents a roughly 13% increase over its revenue of $252.01 million that was reported in its fiscal fourth quarter of 2017. However, it just missed Wall Street’s revenue estimate of $285.99 million for the period.
Monro Inc notes that its comparable store sales for its fiscal fourth quarter of the year was up roughly 10%. The company says that comparable store sales for tires were up 5%, as well as 2% for brakes and front end/shocks. Despite all this good news, MNRO also saw a drop of 2% in comparable sales for maintenance services and alignments.
Monro Inc’s earnings report for its fiscal fourth quarter of 2018 also includes earnings per share of 52 cents. This is better than the brake company’s earnings per share of 29 cents from the same period of the year prior. It also came in above analysts’ earnings per share estimate of 50 cents for the quarter.
Net income reported by Monro Inc for its fiscal fourth quarter of 2018 came in at $17.48 million. This is an increase over its net income of $9.66 million that was reported in its fiscal fourth quarter of the previous year.
Monro Inc also reported operating income of $30.43 million for its fiscal fourth quarter of the year. This is up from the company’s operating income of $20.09 million for the same time last year.
MNRO stock was down 1% as of noon Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.