Earnings Conference Call and Webcast
The Company will host a conference call and audio webcast on Wednesday, July 26, 2023 at 8:30 a.m. Eastern Time. The conference call may be accessed by dialing
1-833-470-1428 and using the required access code of 006236. A replay will be available approximately two hours after the
recording through Wednesday, August 9, 2023 and can be accessed by dialing 1-866-813-9403 and using the required access code of
528262. A replay can also be accessed via audio webcast at the Investors section of the Companys website, located at corporate.monro.com/investors.
About Monro, Inc.
Monro, Inc. (NASDAQ: MNRO) is
one of the nations leading automotive service and tire providers, delivering best-in-class auto care to communities across the country, from oil changes, tires and
parts installation, to the most complex vehicle repairs. With a growing market share and a focus on sustainable growth, the Company generated approximately $1.3 billion in sales in fiscal 2023 and continues to expand its national presence
through strategic acquisitions and the opening of newly constructed stores. Across approximately 1,300 stores and 9,000 service bays nationwide, Monro brings customers the professionalism and high-quality service they expect from a national
retailer, with the convenience and trust of a neighborhood garage. Monros highly trained teammates and certified technicians bring together hands-on experience and state-of-the-art technology to diagnose and address automotive needs every day to get customers back on the road safely. For more information, please visit
corporate.monro.com.
Cautionary Note Regarding Forward-Looking Statements
The statements contained in this press release that are not historical facts may contain statements of future expectations and other forward-looking statements
made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by such words and phrases as expect, estimate, guidance,
outlook, project, strategy, strive, anticipate, believe, could, may, will, intend, and other similar words or phrases.
Forward-looking statements are subject to risks, uncertainties and other important factors that could cause actual results to differ materially from those expressed. These factors include, but are not necessarily limited to product demand,
dependence on and competition within the primary markets in which the Companys stores are located, the need for and costs associated with store renovations and other capital expenditures, realizing the anticipated benefits of the divestiture
of the Companys wholesale tire and distribution assets, the effect of general business or economic conditions on the Companys business, including consumer spending levels, inflation, and unemployment, seasonality, changes in the U.S.
trade environment, including the impact of tariffs on products imported from China, the impact of competitive services and pricing, product development, parts supply restraints or difficulties, the impact of weather trends and natural disasters,
industry regulation, risks relating to leverage and debt service (including sensitivity to fluctuations in interest rates), continued availability of capital resources and financing, risks relating to protection of customer and employee personal
data, risks relating to litigation, risks relating to integration of acquired businesses and other factors set forth elsewhere herein and in the Companys Securities and Exchange Commission filings, including the Companys annual report on
Form 10-K for the fiscal year ended March 25, 2023. Except as required by law, the Company does not undertake and specifically disclaims any obligation to update any forward-looking statement to reflect
the occurrence of anticipated or unanticipated events or circumstances after the date of such statements.
Non-GAAP Financial Measures
In addition to reporting diluted earnings per share (EPS), which is a generally accepted accounting principles (GAAP) measure, this
press release includes adjusted diluted EPS, which is a non- GAAP financial measure. The Company has included a reconciliation from adjusted diluted EPS to its most directly comparable GAAP measure, diluted
EPS. Management views this non-GAAP financial measure as a way to better assess comparability between periods because management believes the non-GAAP financial measure
shows the Companys core business operations while excluding certain non-recurring items such as costs related to shareholder matters from the Companys planned equity capital structure
recapitalization, transition costs related to the Companys back-office optimization and items related to store closings as well as acquisition initiatives.
This non-GAAP financial measure is not intended to represent, and should not be considered more meaningful than, or as
an alternative to, its most directly comparable GAAP measure. This non- GAAP financial measure may be different from similarly titled non-GAAP financial measures used by
other companies.