Monro Muffler Brake Q2 Results Miss View, Cuts Full Year EPS View - Quick Facts

(RTTNews) - Monro Muffler Brake, Inc. (MNRO), a provider of automotive undercar repair and tire services, Thursday said second-quarter net income increased to $16.3 million from $13.65 million in the prior year period. Earnings per share advanced to $0.50 from $0.42.

On average, 8 analysts polled by Thomson Reuters expected earnings of $0.51 per share for the quarter. Analysts' estimates typically exclude special items.

Sales increased 7.8 percent to $221.3 million from $205.3 million for the second quarter of fiscal 2014. Analysts expected revenues of $226.53 million.

For the third quarter of fiscal 2015, the company anticipates comparable store sales to be in the range of a decrease of 2 percent to flat versus the prior year.

The company expects earnings per share for the third quarter to be between $0.47 and $0.52, as compared to $0.47 for the third quarter of fiscal 2014. Analysts expect earnings of $0.56 per share.

The company now expects fiscal 2015 comparable store sales to be approximately flat versus the prior range of an increase of 1 to 3 percent.

As a result primarily of the weaker sales guidance, the firm revised its estimated fiscal 2015 earnings per share to a range of $1.85 to $1.95, from its prior range of $1.95 to $2.08. This compares to earnings per share of $1.67 in fiscal 2014. Wall Street looks for earnings of $2.02 per share.

Monro Muffler Brake also announced the acquisition of nine stores in the Atlanta, Georgia area, a new state for Monro.