As of September 28, 2024, Monro, Inc. reported total assets of $1,681.3 million, reflecting a slight decrease from $1,692.8 million as of March 30, 2024. Total current assets increased to $266.8 million from $253.3 million during the same period. Current liabilities rose to $501.6 million from $455.2 million, while long-term debt decreased significantly to $62.0 million from $102.0 million. Total shareholders' equity was reported at $651.9 million, down from $656.8 million.
For the three months ended September 28, 2024, Monro's sales were $301.4 million, a decline from $322.1 million in the same quarter of 2023. Gross profit for this period was $106.4 million, down from $115.0 million year-over-year. Operating income also decreased to $13.2 million from $22.4 million, and net income fell to $5.6 million compared to $12.9 million in the prior year.
For the six months ended September 28, 2024, net income totaled $11.5 million, a significant decrease from $21.7 million for the same period in 2023. Cash provided by operating activities for the first half of the fiscal year was $88.2 million, down from $98.3 million in the previous year. In terms of investing activities, cash provided was $4.6 million, a turnaround from cash used of $6.7 million in the same period of 2023. Cash used for financing activities amounted to $78.5 million, compared to $87.5 million in the prior year.
Dividends declared for the three months ended September 28, 2024, remained consistent at $0.28 per common share, matching the same period in 2023.
About MONRO, INC.
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