Q3 26 EPS
$0.16
BEAT +17.65%
Est. $0.14
Q3 26 Revenue
$293.4M
MISS 0.61%
Est. $295.2M
vs S&P Since Q3 26
-25.3%
TRAILING MARKET
MNRO -19.7% vs S&P +5.6%
Market Reaction
Did MNRO Beat Earnings? Q3 2026 Results
Monro delivered a mixed but largely encouraging third quarter for fiscal 2026, posting adjusted diluted EPS of $0.16 against a consensus estimate of $0.14, a beat of 17.65%, even as revenue of $293.39 million came in just 0.61% below expectations and… Read more Monro delivered a mixed but largely encouraging third quarter for fiscal 2026, posting adjusted diluted EPS of $0.16 against a consensus estimate of $0.14, a beat of 17.65%, even as revenue of $293.39 million came in just 0.61% below expectations and declined 4.0% year-over-year. The top-line softness was largely anticipated, stemming from the deliberate closure of 145 underperforming stores in Q1 fiscal 2026 as part of the company's ongoing store rationalization strategy, while comparable store sales rose 1.2%, marking the fourth consecutive quarter of positive comps, a milestone not seen in several years. Gross margin expanded 60 basis points to 34.9%, aided by lower material and occupancy costs, though technician wage inflation remained a headwind. The quarter also benefited from $13.53 million in net gains from closed-store real estate dispositions, which meaningfully lifted reported results. Shares fell roughly 5% in pre-market trading on the revenue shortfall, though management struck an optimistic tone, noting preliminary January comparable store sales were up nearly 1% and that anticipated higher consumer tax refunds should provide a tailwind through the remainder of the fiscal year.
Key Takeaways
- • Comparable store sales increased 1.2%, marking fourth consecutive quarter of positive comps
- • Tire comparable store sales increased 5% driven by winter preparedness, updated assortment, and marketing spend
- • Front end/shocks comparable store sales increased 7%
- • Gross margin expanded 60 basis points to 34.9% from lower material costs and occupancy expenses
- • $14.0 million in net gains from closed store real estate dispositions
- • Inventory reduced by over $7 million in Q3, cumulative reduction of more than $28 million (16%) since end of March
- • SG&A savings from 145 closed underperforming stores reinvested into marketing
MNRO YoY Financials
Q3 2026 vs Q3 2025, source: SEC Filings
“After we saw some softness in consumer demand in October, the Monro team drove growth in comparable store sales in November and December. Further, when adjusting for a shift in the timing of the Christmas holiday in the prior year, the months of November and December as well as the third quarter, mark the first time we delivered positive comps on a 2-year stack in over two years. This has also enabled us to report our fourth consecutive quarter of positive comps for the first time in several years. We believe we were able to take share in our tire category as soon as winter hit as our stores were well-prepared with proper staffing, an updated tire assortment, and additional marketing spend. For the second quarter in a row, we delivered solid gross margin performance with a gross margin rate that expanded 60 basis points year-over-year to 34.9%. We also re-invested the selling, general, and administrative expense savings from our closed stores into additional marketing to support topline growth. For the third quarter in a row, we reduced inventory levels across the system, this time by over $7 million. We have now achieved an overall inventory reduction of more than $28 million, which is 16% since the end of March, just nine months ago. This is a clear indication of how we've continued to manage our inventories more efficiently in fiscal 2026”
— Peter Fitzsimmons, Q3 2026 Earnings Press Release
MNRO Earnings Trends
MNRO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MNRO EPS Trend
Earnings per share: estimate vs actual
MNRO Revenue Trend
Quarterly revenue: estimate vs actual
MNRO Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 MISS FY | $-0.05 | $-0.16 | -196.30% | $273.8M | -3.40% |
| FY Full Year | $0.55 | $0.42 | -23.08% | $1.16B | -0.83% |
| Q3 26 BEAT | $0.14 | $0.16 | +17.65% | $293.4M | -0.61% |
| Q2 26 BEAT | $0.18 | $0.18 | +0.00% | $288.9M | -3.90% |
| Q1 26 BEAT | $0.15 | $0.22 | +48.65% | $301.0M | +1.65% |
| Q4 25 MISS FY | $0.03 | $-0.09 | -421.43% | $295.0M | +1.90% |
| FY Full Year | $0.60 | $0.48 | -20.27% | $1.20B | +0.46% |