Skip to main content

O'Reilly Automotive(ORLY-Q)
NASDAQ

Today's Change
Real-Time Last Update Last Sale Cboe BZX Real-Time

A Look Back at Auto Parts Retailer Stocks' Q3 Earnings: Monro (NASDAQ:MNRO) Vs The Rest Of The Pack

StockStory - Mon Jan 22, 3:15AM CST

MNRO Cover Image

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how the auto parts retailer stocks have fared in Q3, starting with Monro (NASDAQ:MNRO).

Cars are complex machines that need maintenance and occasional repairs, and auto parts retailers cater to the professional mechanic as well as the do-it-yourself (DIY) fixer. Work on cars may entail replacing fluids, parts, or accessories, and these stores have the parts and accessories or these jobs. While e-commerce competition presents a risk, these stores have a leg up due to the combination of broad and deep selection as well as expertise provided by sales associates. Another change on the horizon could be the increasing penetration of electric vehicles.

The 5 auto parts retailer stocks we track reported a mixed Q3; on average, revenues were in line with analyst consensus estimates Inflation (despite slowing) has investors prioritizing near-term cash flows, but auto parts retailer stocks held their ground better than others, with the share prices up 8.9% on average since the previous earnings results.

Monro (NASDAQ:MNRO)

Started as a single location in Rochester, New York, Monro (NASDAQ:MNRO) provides common auto services such as brake repairs, tire replacements, and oil changes.

Monro reported revenues of $322.1 million, down 2.3% year on year, falling short of analyst expectations by 2.8%. It was a slower quarter for the company, with a miss of analysts' revenue estimates.

“Our second quarter comparable store sales decline of approximately 2% reflects topline results that were challenged. This was due to consumers deferring tire purchases as persistent inflationary pressures impacted purchases of higher-ticket items across the retail spectrum, said Mike Broderick, President and Chief Executive Officer.

Monro Total Revenue

Monro delivered the weakest performance against analyst estimates and slowest revenue growth of the whole group. The stock is up 18.9% since the results and currently trades at $29.37.

Read our full report on Monro here, it's free.

Best Q3: O'Reilly (NASDAQ:ORLY)

Serving both the DIY customer and professional mechanic, O’Reilly Automotive (NASDAQ:ORLY) is an auto parts and accessories retailer that sells everything from fuel pumps to car air fresheners to mufflers.

O'Reilly reported revenues of $4.20 billion, up 10.7% year on year, outperforming analyst expectations by 2.9%. It was a strong quarter for the company, with a solid beat of analysts' revenue estimates.

O'Reilly Total Revenue

O'Reilly achieved the biggest analyst estimates beat, fastest revenue growth, and highest full-year guidance raise among its peers. The stock is up 17.5% since the results and currently trades at $1,029.52.

Is now the time to buy O'Reilly? Access our full analysis of the earnings results here, it's free.

Weakest Q3: Advance Auto Parts (NYSE:AAP)

Founded in Virginia in 1932, Advance Auto Parts (NYSE:AAP) is an auto parts and accessories retailer that sells everything from carburetors to motor oil to car floor mats.

Advance Auto Parts reported revenues of $2.72 billion, up 2.9% year on year, exceeding analyst expectations by 1.6%. It was a weak quarter for the company, with underwhelming earnings guidance for the full year.

Advance Auto Parts had the weakest full-year guidance update in the group. The stock is up 9.1% since the results and currently trades at $63.75.

Read our full analysis of Advance Auto Parts's results here.

Genuine Parts (NYSE:GPC)

Largely targeting the professional customer, Genuine Parts (NYSE:GPC) sells auto and industrial parts such as batteries, belts, bearings, and machine fluids.

Genuine Parts reported revenues of $5.82 billion, up 2.6% year on year, falling short of analyst expectations by 1.5%. It was a mixed quarter for the company, with a decent beat of analysts' gross margin estimates but a miss of analysts' revenue estimates.

The stock is down 4.5% since the results and currently trades at $142.09.

Read our full, actionable report on Genuine Parts here, it's free.

AutoZone (NYSE:AZO)

Aiming to be a one-stop shop for the DIY customer, AutoZone (NYSE:AZO) is an auto parts and accessories retailer that sells everything from car batteries to windshield wiper fluid to brake pads.

AutoZone reported revenues of $4.19 billion, up 5.1% year on year, inline with analyst expectations. It was a decent quarter for the company, with a beat of analysts' EPS estimates.

The stock is up 3.2% since the results and currently trades at $2,746.44.

Read our full, actionable report on AutoZone here, it's free.

Join Paid Stock Investor Research

Help us make StockStory more helpful to investors like yourself. Join our paid user research session and receive a $50 Amazon gift card for your opinions. Sign up here.

The author has no position in any of the stocks mentioned

More from The Globe

opinion
This Canadian aerospace stock deserves a place on your watch list
Robert Tattersall