Bret Jordan

David Lantz

Brian Nagel

Thomas Wendler

Tom Wendler

John Healy

Seth Basham

- Monro, under new President and CEO Peter Fitzsimmons (less than six months in role), is undergoing a turnaround focusing on four key areas, including the closure of **145 underperforming stores** by the end of June.  **[876427_2137541_0]** **[876427_2137541_1]** 
- The company reported its **second consecutive quarter of positive comparable store sales**, with a **5.7% increase** in the most recent quarter (Q1) and a **2.8% increase** in the prior quarter (Q4).  **[876427_2137541_3]** 
- Adjusted earnings per share for the most recent quarter (Q1) were **$0.22**, consistent with the previous year.  **[876427_2137541_3]** 
- Monro maintains a strong financial position with **$64 million in net bank debt** at the end of the last quarter, representing approximately **half a turn of leverage** on forward EBITDA.  **[876427_2137541_3]** **[876427_2137541_5]**  The company expects to fund its FY2026 capital allocation priorities (CapEx of **$25-$35 million**, lease payments of **$40 million**, and dividends of **$35 million**) through adequate cash flow without increasing leverage.  **[876427_2137541_5]**

Monro discusses turnaround strategy and recent financial performance

- Peter Fitzsimmons, President and CEO, who joined less than six months ago, outlined a four-point turnaround strategy for Monro, including the closure of **145 underperforming stores** by the end of June, a process expected to be cash positive.  **[876427_2137558_0]** **[876427_2137558_1]** 
- The company reported its **second consecutive quarter of positive comparable store sales**, with a **5.7%** increase in Q1, and adjusted earnings per share of **$0.22**.  **[876427_2137558_3]** 
- Monro ended Q1 with **$64 million in net bank debt**, representing approximately **half a turn of forward EBITDA**, and anticipates sufficient cash flow to fund its FY 2026 capital allocation priorities, including **$35 million in dividends**, without incurring additional leverage.  **[876427_2137558_3]** **[876427_2137558_5]** 
- Operational improvements include a focused digital marketing effort that has led to increases in calls, revenue, and gross margin dollars, with plans to integrate the remaining **350 stores** into the call center within the next six weeks.  **[876427_2137558_2]**

MONRO (MNRO)