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 2020-06-27 Filed 2020-08-06
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10-K 2019-03-30 Filed 2019-05-29
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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
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10-K 2014-03-29 Filed 2014-05-28
10-Q 2013-12-28 Filed 2014-02-04
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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
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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 2020-10-28 Earnings, Other Events, Exhibits
8-K 2020-08-18 Shareholder Vote, Other Events, Exhibits
8-K 2020-08-01 Officers, Exhibits
8-K 2020-07-29 Earnings, Other Events, Exhibits
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-31.1 mnro-20200627xex31_1.htm
EX-31.2 mnro-20200627xex31_2.htm
EX-32.1 mnro-20200627xex32_1.htm

Monro Earnings 2020-06-27

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-20200627x10q
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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 June 27, 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

There were 33,285,901 shares of the registrant's common stock, par value $0.01 per share, outstanding at July 24, 2020.

 


MONRO, INC.

INDEX


2


MONRO, INC.

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

MONRO, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

June 27,

March 28,

2020

2020

(Dollars in thousands)

Assets

Current assets:

Cash and equivalents

$

147,174

$

345,476

Trade receivables

13,415

14,510

Federal and state income taxes receivable

7,345

8,056

Inventories

176,530

187,441

Other current assets

36,792

40,537

Total current assets

381,256

596,020

Property, plant and equipment

692,618

682,932

Less - Accumulated depreciation and amortization

(363,703)

(354,295)

Net property, plant and equipment

328,915

328,637

Finance lease and financing obligation assets, net

253,956

196,575

Operating lease assets, net

206,252

199,729

Goodwill

671,831

671,843

Intangible assets, net

28,706

29,781

Other non-current assets

21,787

20,688

Long-term deferred income tax assets

6,139

6,184

Total assets

$

1,898,842

$

2,049,457

Liabilities and Shareholders' Equity

Current liabilities:

Current portion of finance leases and financing obligations

$

33,744

$

32,257

Current portion of operating lease liabilities

30,696

30,181

Trade payables

110,853

99,504

Accrued payroll, payroll taxes and other payroll benefits

17,873

14,429

Accrued insurance

42,461

43,387

Deferred revenue

12,281

13,129

Other current liabilities

33,868

22,049

Total current liabilities

281,776

254,936

Long-term debt

326,200

566,400

Long-term finance leases and financing obligations

350,212

298,373

Long-term operating lease liabilities

180,767

170,954

Other long-term liabilities

17,280

12,873

Long-term deferred income tax liabilities

10,461

10,069

Long-term income taxes payable

1,426

1,412

Total liabilities

1,168,122

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; 39,645,772 and
39,644,228 shares issued at June 27, 2020 and March 28, 2020, respectively

396

396

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

(108,729)

(108,729)

Additional paid-in capital

230,683

229,774

Accumulated other comprehensive loss

(7,059)

(6,889)

Retained earnings

615,396

619,855

Total shareholders' equity

730,720

734,440

Total liabilities and shareholders' equity

$

1,898,842

$

2,049,457

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

3


MONRO, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME

(UNAUDITED)

Quarter Ended

June 27,

June 29,

2020

2019

(Dollars in thousands,
except per share data)

Sales

$

247,059

$

317,063

Cost of sales, including distribution and occupancy costs

159,605

188,916

Gross profit

87,454

128,147

Operating, selling, general and administrative expenses

76,053

91,776

Operating income

11,401

36,371

Interest expense, net of interest income

7,385

7,157

Other loss (income), net

9

(175)

Income before income taxes

4,007

29,389

Provision for income taxes

1,020

6,783

Net income

$

2,987

$

22,606

Other comprehensive loss:

Changes in pension, net of tax benefit

(170)

(89)

Other comprehensive loss

(170)

(89)

Comprehensive income

$

2,817

$

22,517

Earnings per common share:

Basic

$

0.09

$

0.68

Diluted

$

0.09

$

0.67

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

Basic

33,285

33,183

Diluted

33,854

33,964

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 March 30, 2019

22

$

33

39,511

$

395

6,360

$

(108,729)

$

220,173

$

(4,536)

$

592,174

$

699,510

Accounting change - cumulative effect

(582)

(582)

Adjusted balance

22

33

39,511

395

6,360

(108,729)

220,173

(4,536)

591,592

698,928

Net income

22,606

22,606

Other comprehensive loss:

Pension liability adjustment
   ($118) pre-tax

(89)

(89)

Cash dividends (1):

Preferred

(112)

(112)

Common

(7,305)

(7,305)

Dividend payable

(10)

(10)

Activity related to equity-based plans

71

1

3,644

3,645

Stock-based compensation

925

925

Balance at June 29, 2019

22

$

33

39,582

$

396

6,360

$

(108,729)

$

224,742

$

(4,625)

$

606,771

$

718,588

Balance at March 28, 2020

22

$

33

39,645

$

396

6,360

$

(108,729)

$

229,774

$

(6,889)

$

619,855

$

734,440

Net income

2,987

2,987

Other comprehensive loss:

Pension liability adjustment
   ($226) pre-tax

(170)

(170)

Cash dividends (1):

Preferred

(112)

(112)

Common

(7,323)

(7,323)

Dividend payable

(11)

(11)

Activity related to equity-based plans

1

5