Monro, Inc. (NASDAQ:MNRO) Q1 2023 Earnings Conference Call July 27, 2022 8:30 AM ET

Company Participants

Felix Veksler – Senior Director of Investor Relations

Michael Broderick – President and Chief Executive Officer

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

Conference Call Participants

Daniel Imbro – Stephens Inc.

Brian Nagel – Oppenheimer

Brett Jordan – Jefferies

Operator

Good morning, ladies and gentlemen, and welcome to Monro Inc.’s Earnings Conference Call for the First 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 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/investorresources.

If I could draw your attention to the Safe Harbor statement on Slide 2, 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 recapping our strategy and the progress we’ve made as evidenced by our first quarter’s results. I’ll then discuss the divestiture of our non-core wholesale and tire distribution assets completed in the quarter, as well as provide an update on our capital allocation.