Company Quick10K Filing
Monro
Price78.51 EPS2
Shares34 P/E33
MCap2,668 P/FCF26
Net Debt163 EBIT102
TEV2,831 TEV/EBIT28
TTM 2019-09-30, in MM, except price, ratios
10-Q 2020-12-26 Filed 2021-02-04
10-Q 2020-09-26 Filed 2020-11-05
10-Q 2020-06-27 Filed 2020-08-06
10-K 2020-03-28 Filed 2020-06-12
10-Q 2019-12-28 Filed 2020-02-06
10-Q 2019-09-28 Filed 2019-11-07
10-Q 2019-06-29 Filed 2019-08-08
10-K 2019-03-30 Filed 2019-05-29
10-Q 2018-12-29 Filed 2019-02-07
10-Q 2018-09-29 Filed 2018-11-08
10-Q 2018-06-30 Filed 2018-08-09
10-K 2018-03-31 Filed 2018-05-30
10-Q 2017-12-23 Filed 2018-02-01
10-Q 2017-09-23 Filed 2017-11-02
10-Q 2017-06-24 Filed 2017-08-03
10-K 2017-03-25 Filed 2017-05-24
10-Q 2016-12-24 Filed 2017-02-02
10-Q 2016-09-24 Filed 2016-11-03
10-Q 2016-06-25 Filed 2016-08-04
10-K 2016-03-26 Filed 2016-05-25
10-Q 2015-12-26 Filed 2016-02-04
10-Q 2015-09-26 Filed 2015-11-05
10-Q 2015-06-27 Filed 2015-08-06
10-K 2015-03-28 Filed 2015-05-27
10-Q 2014-12-27 Filed 2015-02-05
10-Q 2014-09-27 Filed 2014-11-06
10-Q 2014-06-28 Filed 2014-08-07
10-K 2014-03-29 Filed 2014-05-28
10-Q 2013-12-28 Filed 2014-02-04
10-Q 2013-09-28 Filed 2013-10-31
10-Q 2013-06-29 Filed 2013-07-30
10-K 2013-03-30 Filed 2013-05-29
10-Q 2012-12-29 Filed 2013-02-07
10-Q 2012-09-29 Filed 2012-11-08
10-Q 2012-06-30 Filed 2012-08-09
10-K 2012-03-31 Filed 2012-05-30
10-Q 2011-12-24 Filed 2012-02-02
10-Q 2011-09-24 Filed 2011-11-03
10-Q 2011-06-25 Filed 2011-08-04
10-K 2011-03-26 Filed 2011-05-25
10-Q 2010-12-25 Filed 2011-02-03
10-Q 2010-09-25 Filed 2010-10-29
10-Q 2010-06-26 Filed 2010-08-02
10-K 2010-03-27 Filed 2010-06-10
10-Q 2009-12-26 Filed 2010-02-04
8-K 2020-11-24
8-K 2020-11-04
8-K 2020-10-28
8-K 2020-08-18
8-K 2020-08-01
8-K 2020-07-29
8-K 2020-06-11
8-K 2020-05-28
8-K 2020-05-27
8-K 2020-04-11
8-K 2020-03-27
8-K 2020-02-14
8-K 2020-01-30
8-K 2019-10-24
8-K 2019-09-30
8-K 2019-08-13
8-K 2019-07-25
8-K 2019-05-21
8-K 2019-04-25
8-K 2019-03-21
8-K 2019-02-20
8-K 2019-01-31
8-K 2018-10-25
8-K 2018-10-08
8-K 2018-09-27
8-K 2018-08-14
8-K 2018-07-31
8-K 2018-07-26
8-K 2018-06-28
8-K 2018-05-21
8-K 2018-04-17
8-K 2018-03-26
8-K 2018-03-05
8-K 2018-02-16
8-K 2018-01-30

MNRO 10Q Quarterly Report

Part I - Financial Information
Note 1 - Description of Business and Basis of Presentation
Note 2 - Impact of The Covid - 19 Pandemic
Note 3 - Acquisitions
Note 4 - Earnings per Common Share
Note 5 - Income Taxes
Note 6 - Fair Value
Note 7 - Cash Dividend
Note 8 - Revenues
Note 9 - Long - Term Debt
Note 10 - Commitments and Contingencies
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Item 4. Controls and Procedures
Part II - Other Information
Item 1A. Risk Factors
EX-10.73 mnro-20201226xex10_73.htm
EX-31.1 mnro-20201226xex31_1.htm
EX-31.2 mnro-20201226xex31_2.htm
EX-32.1 mnro-20201226xex32_1.htm

Monro Earnings 2020-12-26

Balance SheetIncome StatementCash Flow
1.71.41.00.70.30.02012201420172020
Assets, Equity
0.40.30.20.20.10.02012201420172020
Rev, G Profit, Net Income
0.10.10.0-0.0-0.1-0.12012201420172020
Ops, Inv, Fin

mnro-20201226x10q
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________________________

FORM 10-Q

____________________________________________________________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended December 26, 2020.

OR

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to _____________

Commission File Number: 0-19357

____________________________________________________________

MONRO, INC.

(Exact name of registrant as specified in its charter)

____________________________________________________________

New York

16-0838627

(State or other jurisdiction of

(I.R.S. Employer

incorporation or organization)

Identification No.)

200 Holleder ParkwayRochesterNew York

14615

(Address of principal executive offices)

(Zip code)

Registrant’s telephone number, including area code: (585) 647-6400

_________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

 

MNRO

 

The Nasdaq Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.      x  Yes     ¨  No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).      x  Yes     ¨  No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer   x      Accelerated Filer  ¨       Non-Accelerated Filer  ¨     Smaller Reporting Company  ¨

Emerging Growth Company   ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).      ¨  Yes     x  No

As of January 22, 2021, 33,427,406 shares of the registrant's common stock, $0.01 par value per share, were outstanding.

 


MONRO, INC.

INDEX


2


MONRO, INC.

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

MONRO, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

December 26,

March 28,

2020

2020

(Dollars in thousands)

Assets

Current assets:

Cash and cash equivalents

$

24,959

$

345,476

Accounts receivable

15,298

14,510

Federal and state income taxes receivable

6,764

8,056

Inventories

165,141

187,441

Other current assets

55,193

40,537

Total current assets

267,355

596,020

Property, plant and equipment

711,846

682,932

Less - Accumulated depreciation and amortization

(377,553)

(354,295)

Net property, plant and equipment

334,293

328,637

Finance lease and financing obligation assets, net

279,304

196,575

Operating lease assets, net

207,508

199,729

Goodwill

689,847

671,843

Intangible assets, net

27,080

29,781

Other non-current assets

19,375

20,688

Long-term deferred income tax assets

5,915

6,184

Total assets

$

1,830,677

$

2,049,457

Liabilities and Shareholders' Equity

Current liabilities:

Current portion of finance leases and financing obligations

$

37,146

$

32,257

Current portion of operating lease liabilities

30,749

30,181

Accounts payable

131,852

99,504

Accrued payroll, payroll taxes and other payroll benefits

16,303

14,429

Accrued insurance

49,323

43,387

Deferred revenue

12,139

13,129

Other current liabilities

33,034

22,049

Total current liabilities

310,546

254,936

Long-term debt

190,000

566,400

Long-term finance leases and financing obligations

372,553

298,373

Long-term operating lease liabilities

181,938

170,954

Other long-term liabilities

25,783

12,873

Long-term deferred income tax liabilities

12,306

10,069

Long-term income taxes payable

1,508

1,412

Total liabilities

1,094,634

1,315,017

Commitments and contingencies

 

 

Shareholders' equity:

Class C Convertible Preferred Stock, $1.50 par value, $0.064 conversion value,
150,000 shares authorized; 21,802 shares issued and outstanding

33

33

Common Stock, $0.01 par value, 65,000,000 shares authorized; 39,667,277 and
39,644,228 shares issued at December 26, 2020 and March 28, 2020, respectively

397

396

Treasury Stock, 6,359,871 shares, at cost

(108,729)

(108,729)

Additional paid-in capital

231,708

229,774

Accumulated other comprehensive loss

(7,399)

(6,889)

Retained earnings

620,033

619,855

Total shareholders' equity

736,043

734,440

Total liabilities and shareholders' equity

$

1,830,677

$

2,049,457

The accompanying notes are an integral part of these financial statements.

3


MONRO, INC.

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

(UNAUDITED)

Quarter Ended

Nine Months Ended

December 26,

December 28,

December 26,

December 28,

2020

2019

2020

2019

(Dollars in thousands,
except per share data)

Sales

$

284,591

$

329,281

$

820,237

$

970,458

Cost of sales, including distribution and occupancy costs

188,453

204,929

532,119

595,886

Gross profit

96,138

124,352

288,118

374,572

Operating, selling, general and administrative expenses

80,450

92,781

236,603

273,273

Operating income

15,688

31,571

51,515

101,299

Interest expense, net of interest income

6,819

6,983

21,526

21,100

Other income, net of other loss

(65)

(274)

(132)

(655)

Income before income taxes

8,934

24,862

30,121

80,854

Provision for income taxes

2,251

5,982

7,605

19,054

Net income

$

6,683

$

18,880

$

22,516

$

61,800

Other comprehensive loss:

Changes in pension, net of tax benefit

(170)

(89)

(510)

(266)

Other comprehensive loss

(170)

(89)

(510)

(266)

Comprehensive income

$

6,513

$

18,791

$

22,006

$

61,534

Earnings per common share:

Basic

$

0.20

$

0.56

$

0.67

$

1.85

Diluted

$

0.20

$

0.56

$

0.67

$

1.82

Weighted average number of common shares outstanding
     used in computing earnings per share:

Basic

33,307

33,274

33,296

33,234

Diluted

33,827

33,973

33,840

33,971

The accompanying notes are an integral part of these financial statements.


4


MONRO, INC.

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY

(UNAUDITED)

(Dollars and shares in thousands)

Class C Convertible
Preferred Stock

Common Stock

Treasury Stock

Additional
Paid-in

Accumulated
Other
Comprehensive

Retained

Shares

Amount

Shares

Amount

Shares

Amount

Capital

Loss

Earnings

Total

Balance at September 28, 2019

22

$

33

39,628

$

396

6,360

$

(108,729)

$

226,948

$

(4,713)

$

619,641

$

733,576

Net income

18,880

18,880

Other comprehensive loss:

Pension liability adjustment
   ($118) pre-tax

(89)

(89)

Cash dividends (1):

Preferred

(112)

(112)

Common

(7,321)

(7,321)

Dividend payable

(11)

(11)

Activity related to equity-based plans

12

701

701

Stock-based compensation

968

968

Balance at December 28, 2019

22

$

33

39,640

$

396

6,360

$

(108,729)

$

228,617

$

(4,802)

$

631,077

$

746,592

Balance at September 26, 2020

22

$

33

39,667

$

397

6,360

$

(108,729)

$

231,095

$

(7,229)

$

620,800

$

736,367

Net income

6,683