Monro, Inc. (NASDAQ:MNRO) Q3 2023 Earnings Conference Call January 25, 2023 8:30 AM ET

Company Participants

Felix Veksler - Senior Director, Investor Relations

Michael Broderick - President and Chief Executive Officer

Brian D'Ambrosia – Executive Vice President and Chief Financial Officer

Conference Call Participants

Brian Nagel - Oppenheimer & Co.

Joe Enderlin - Stephens Inc.

John Healy - Northcoast Research Partners

Bret Jordan - Jefferies Group

Operator

Good morning, ladies and gentlemen, and welcome to Monro, Inc’s Earnings Conference Call for the Third Quarter of Fiscal 2023. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] And as a reminder, this conference call is being recorded and may not be reproduced in whole or in part without permission from the company.

I would now like to introduce Felix Veksler, Senior Director of Investor Relations at Monro. Please go ahead.

Felix Veksler

Thank you. Hello, everyone, and thank you for joining us on this morning's call. Before we get

Before we get started, please note that as part of this call, we will be referencing a presentation that is available on the Investors section of our website at corporate.monro.com/investors.

If I could draw your attention to the Safe Harbor statement on slide two, I'd like to remind participants that our presentation includes some forward-looking statements about Monro's future performance. Actual results may differ materially from those suggested by our comments today. The most significant factors that could affect future results are outlined in Monro's filings with the SEC and in our earnings release. The company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by law.

Additionally, on today's call, management's statements include a discussion of certain non-GAAP financial measures which are intended to supplement, and not be substitutes for comparable GAAP measures. Reconciliations of such supplemental information to the comparable GAAP measures will be included as part of today's presentation and in our earnings release.

With that, I'd like to turn the call over to Monro's President and Chief Executive Officer, Michael Broderick.

Michael Broderick

Thank you, Felix, and good morning, everyone. I'll spend the first part of our call this morning outlining a series of customer focused initiatives we recently implemented across our store base. These initiatives will enable us to drive additional sales of our higher margin service categories and position us as an even stronger competitor in every market we serve. After that, I'll walk through our third quarter results and the continued progress we've made despite inflationary pressures impacting the consumer and our business. I'll then conclude with an update on our cash creation and capital allocation.