UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

____________________________________________________________

FORM 10-Q

____________________________________________________________

(Mark One)

x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~June~~September 2827, 2025

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from _____________ to _____________

Commission File Number: 0-19357

____________________________________________________________

Monro, Inc.

(Exact name of registrant as specified in its charter)

____________________________________________________________


New York	16-0838627
(State or other jurisdiction of	(I.R.S. Employer
incorporation or organization)	Identification No.)

295 Woodcliff Drive, Suite 202 Fairport, New York	14450
(Address of principal executive offices)	(Zip code)

Registrant’s telephone number, including area code: 1 (800) 876-6676

_________________________________________

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.01 per share

MNRO

The Nasdaq Stock Market

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. x Yes ¨ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). x Yes ¨ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer x Accelerated filer ¨ Non-accelerated filer ¨ Smaller reporting company ¨ Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ¨ Yes x No

As of ~~July~~October 1917, 2025, 2930,~~978~~019,~~942~~660 shares of the registrant's common stock, $0.01 par value per share, were outstanding.

Table of Contents

TABLE OF CONTENTS

PART I. FINANCIAL INFORMATION
Item 1. Financial Statements (Unaudited)
Consolidated Balance Sheets	3
Consolidated Statements of (Loss) Income and Comprehensive (Loss) Income	4
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)	4
Consolidated Statements of Changes in Shareholders’ Equity	5
Consolidated Statements of Cash Flows	6
Notes to Consolidated Financial Statements	8
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations	1416
Item 3. Quantitative and Qualitative Disclosures About Market Risk	2325
Item 4. Controls and Procedures	2325
PART II. OTHER INFORMATION
Item 1. Legal Proceedings	2426
Item 6. Exhibits	2527
Signatures	2628

‎

Monro, Inc. Q1Q2 2026 Form 10-Q 2

Table of Contents

CONSOLIDATED FINANCIAL STATEMENTS

PART I - FINANCIAL INFORMATION

Item 1. Financial Statements

Consolidated Balance Sheets

(thousands, except footnotes) (unaudited)	~~June~~September 2827, 2025		March 29, 2025
Assets
Current assets
Cash and equivalents	$	710,~~801~~468	$	20,762
Accounts receivable		1211,~~010~~788		11,752
Federal and state income taxes receivable		34,~~964~~113		3,992
Inventory		~~171~~160,~~885~~681		181,467
Other current assets		5955,~~142~~785		59,426
Total current assets		~~254~~242,~~802~~835		277,399
Property and equipment, net		~~242~~240,~~116~~655		258,949
Finance lease and financing obligation assets, net		152,~~693~~923		159,794
Operating lease assets, net		~~179~~174,~~117~~138		181,587
Goodwill		736,435		736,435
Intangible assets, net		9,~~710~~039		10,390
Assets held for sale		1311,~~043~~481		—
Other non-current assets		1716,~~144~~500		17,269
Total assets	$	1,~~605~~584,~~060~~006	$	1,641,823
Liabilities and shareholders' equity
Current liabilities
Current portion of finance leases and financing obligations	$	38,~~778~~733	$	39,739
Current portion of operating lease liabilities		4039,~~483~~717		40,061
Accounts payable		~~301~~298,~~373~~966		322,642
Accrued payroll, payroll taxes and other payroll benefits		1421,~~385~~568		23,599
Accrued insurance		57,~~325~~991		52,822
Deferred revenue		1413,~~406~~947		14,696
Other current liabilities		3940,~~213~~288		30,731
Total current liabilities		~~505~~511,~~963~~210		524,290
Long-term debt		7160,~~546~~000		61,250
Long-term finance leases and financing obligations		~~210~~205,~~115~~870		220,783
Long-term operating lease liabilities		~~163~~156,~~956~~723		167,523
Long-term deferred income tax liabilities		3437,~~878~~239		37,111
Other long-term liabilities		1311,~~711~~279		10,105
Total liabilities		1982,~~000,169~~321		1,021,062
Commitments and contingencies - Note 9
Shareholders' equity:
Class C convertible preferred stock		29		29
Class C Convertible Preferred stock		29		29
Common stock		401		401
Treasury stock		(250,111)		(250,111)
Additional paid-in capital		259,~~655~~735		258,804
Accumulated other comprehensive loss		(3,~~412~~404)		(3,421)
Retained earnings		~~598~~595,~~329~~035		615,059
Total shareholders' equity		~~604~~601,~~891~~685		620,761
Total liabilities and shareholders' equity	$	1,~~605~~584,~~060~~006	$	1,641,823

Class C convertible preferred stock Authorized 150,000 shares, $1.50 par value, one preferred stock share to 61.275 common stock shares conversion value, 19,664 shares issued and outstanding as of ~~June~~September 2827, 2025 and March 29, 2025

Common stock Authorized 65,000,000 shares, $0.01 par value; 40,~~083~~124,~~630~~409 shares issued as of ~~June~~September 2827, 2025 and 40,067,600 shares issued as of March 29, 2025

Treasury stock 10,104,688 shares as of ~~June~~September 2827, 2025 and March 29, 2025, at cost

See accompanying Notes to Consolidated Financial Statements.

Monro, Inc. Q1Q2 2026 Form 10-Q 3

Table of Contents

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statements of Income (Loss) ~~Income~~ and Comprehensive Income (Loss) ~~Income~~

	Three Months Ended				Six Months Ended
(thousands, except per share data) (unaudited)	~~June~~September 2827, 2025		~~June~~September 2928, 2024		September 27, 2025		September 28, 2024
Sales	$	~~301~~288,~~035~~914	$	~~293~~301,~~182~~391	$	589,949	$	594,573
Cost of sales, including occupancy costs		~~194~~185,~~129~~800		~~183~~195,~~997~~014		379,929		379,010
Gross profit		~~106~~103,~~906~~114		~~109~~106,~~185~~377		210,020		215,563
Operating, selling, general and administrative expenses		~~112~~90,~~981~~364		9593,~~939~~175		203,345		189,114
Operating (loss) income		(6,075)		13,246
Operating income		12,750		13,202		6,675		26,449
Interest expense, net of interest income		4,~~784~~350		5,~~144~~136		9,134		10,279
Other income, net		(~~158~~38)		(93110)		(196)		(201)
(Loss) income before income taxes		(10,701)		8,195
Income (loss) before income taxes		8,438		8,176		(2,263)		16,371
(Benefit from) provision for income taxes		(2,651)		2,332
Provision for income taxes		2,773		2,529		122		4,861
Net (loss) income	$	(8,050)	$	5,863
Net income (loss)	$	5,665	$	5,647	$	(2,385)	$	11,510
Other comprehensive income
Changes in pension, net of tax		98		34		17		68
Other comprehensive income		98		34		17		68
Comprehensive (loss) income	$	(8,041)	$	5,897
Comprehensive income (loss)	$	5,673	$	5,681	$	(2,368)	$	11,578
(Loss) earnings per share
Earnings (loss) per share
Basic	$	(0.~~28)~~18	$	0.1918	$	(0.10)	$	0.37
Diluted	$	(0.~~28)~~18	$	0.1918	$	(0.10)	$	0.37
Weighted average common shares outstanding
Basic		2930,~~967~~000		29,~~916~~934		29,983		29,925
Diluted		2931,~~967~~363		31,~~219~~224		29,983		31,201

See accompanying Notes to Consolidated Financial Statements.

‎

Monro, Inc. Q1Q2 2026 Form 10-Q 4

Table of Contents

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statements of Changes in Shareholders’ Equity

	Class C											Accumulated
	Convertible									Additional		Other
	Preferred Stock			Common Stock			Treasury Stock			Paid-In		Comprehensive		Retained		Total
(thousands) (unaudited)	Shares	Amount		Shares	Amount		Shares	Amount		Capital		Loss		Earnings		Equity
Balance at March 30, 2024	20	$	29	40,017	$	400	10,105	$	(250,115)	$	254,484	$	(3,451)	$	655,428	$	656,775
Balance at June 29, 2024	20	$	29	40,026	$	400	10,105	$	(250,111)	$	255,039	$	(3,417)	$	652,481	$	654,421
Net income															5,~~863~~647		5,~~863~~647
Other comprehensive income
Pension liability adjustment													34				34
Dividends declared
Preferred															(337)		(337)
Common															(8,~~377~~387)		(8,~~377~~387)
Dividend payable															(96116)		(96116)
Stock options and restricted stock				928		1			4		(~~109~~156)						(~~105~~155)
Stock-based compensation											~~664~~832						~~664~~832
Balance at June 29, 2024	20	$	29	40,026	$	400	10,105	$	(250,111)	$	255,039	$	(3,417)	$	652,481	$	654,421
Balance at September 28, 2024	20	$	29	40,054	$	401	10,105	$	(250,111)	$	255,715	$	(3,383)	$	649,288	$	651,939
Balance at March 29, 2025	20	$	29	40,068	$	401	10,105	$	(250,111)	$	258,804	$	(3,421)	$	615,059	$	620,761
Balance at June 28, 2025	20	$	29	40,084	$	401	10,105	$	(250,111)	$	259,655	$	(3,412)	$	598,329	$	604,891
Net loss															(8,050)		(8,050)
Net income															5,665		5,665
Other comprehensive income
Pension liability adjustment													98				98
Dividends declared
Preferred															(337)		(337)
Common															(8,~~391~~405)		(8,~~391~~405)
Dividend payable															48(217)		48(217)
Stock options and restricted stock				1641							(~~133~~134)						(~~133~~134)
Stock-based compensation											~~984~~214						~~984~~214
Balance at June 28, 2025	20	$	29	40,084	$	401	10,105	$	(250,111)	$	259,655	$	(3,412)	$	598,329	$	604,891
Balance at September 27, 2025	20	$	29	40,125	$	401	10,105	$	(250,111)	$	259,735	$	(3,404)	$	595,035	$	601,685
Balance at March 30, 2024	20	$	29	40,017	$	400	10,105	$	(250,115)	$	254,484	$	(3,451)	$	655,428	$	656,775
Net income															11,510		11,510
Other comprehensive income
Pension liability adjustment													68				68
Dividends declared
Preferred															(675)		(675)
Common															(16,762)		(16,762)
Dividend payable															(213)		(213)
Stock options and restricted stock				37		1			4		(266)						(261)
Stock-based compensation											1,497						1,497
Balance at September 28, 2024	20	$	29	40,054	$	401	10,105	$	(250,111)	$	255,715	$	(3,383)	$	649,288	$	651,939
Balance at March 29, 2025	20	$	29	40,068	$	401	10,105	$	(250,111)	$	258,804	$	(3,421)	$	615,059	$	620,761
Net loss															(2,385)		(2,385)
Other comprehensive income
Pension liability adjustment													17				17
Dividends declared
Preferred															(675)		(675)
Common															(16,796)		(16,796)
Dividend payable															(168)		(168)
Stock options and restricted stock				57							(267)						(267)
Stock-based compensation											1,198						1,198
Balance at September 27, 2025	20	$	29	40,125	$	401	10,105	$	(250,111)	$	259,735	$	(3,404)	$	595,035	$	601,685

We declared $0.28 dividends per common share or equivalent for each of the three months ended ~~June~~September 27, 2025 and September 28, 2024, and $0.56 per common share or equivalent for the six months ended September 27, 2025 and ~~June~~September 2928, 2024.‎

See accompanying Notes to Consolidated Financial Statements
‎

Monro, Inc. Q1Q2 2026 Form 10-Q 5

Table of Contents

CONSOLIDATED FINANCIAL STATEMENTS

Consolidated Statements of Cash Flows

	Three Months Ended
	Six Months Ended
(thousands) (unaudited)	~~June~~September 2827, 2025		~~June~~September 2928, 2024
Operating activities
Net (loss) income	$	(82,~~050~~385)	$	511,~~863~~510
Adjustments to reconcile net (loss) income to cash (used for) provided by operating activities:
Adjustments to reconcile net (loss) income to cash provided by operating activities:
Depreciation and amortization		1530,~~591~~866		1735,~~742~~238
Share-based compensation expense		~~984~~1,198		~~664~~1,497
Loss on disposal of assets		1,476		319
Net gain on disposal of assets		(5,080)		(2,702)
Impairment of long-lived assets		—		~~520~~1,551
Deferred income tax expense		~~(2,651)~~122		13,~~621~~378
Change in operating assets and liabilities
Accounts receivable		(~~258~~36)		(~~316~~1,381)
Inventory		717,~~420~~991		(87,~~083~~728)
Other current assets		~~(3,190)~~167		(83,~~344)~~084
Other non-current assets		918,~~654~~616		1019,~~053~~824
Accounts payable		(2123,~~269~~676)		2646,~~963~~983
Accrued expenses		410,~~339~~296		(~~12,166~~952)
Other long-term liabilities		(5,985)		(9,198)
Federal and state income taxes payable		—		(2,436)
Cash (used for) provided by operating activities		(1,939)		25,638
Other long-term liabilities		(17,683)		(19,669)
Cash provided by operating activities		30,396		88,197
Investing activities
Capital expenditures		(713,~~400~~128)		(813,~~882~~797)
Deferred proceeds received from divestiture		3,474		48,~~369~~521
Proceeds from the disposal of assets		17,~~560~~243		~~281~~9,914
Cash used for investing activities		(2,366)		(4,232)
Cash (used for) provided by investing activities		(2,411)		4,638
Financing activities
Proceeds from borrowings on long-term debt, net principal payments		10,296		10,000
Principal payments on long-term debt, net borrowings		(1,250)		(40,000)
Principal payments on finance leases and financing obligations		(919,~~760~~081)		(920,~~918~~010)
Dividends paid		(817,~~728~~471)		(817,~~714~~437)
Deferred financing costs		(464)		(670)
Excise tax on repurchase of stock paid		—		(420)
Cash used for financing activities		(8,656)		(9,302)
Deferred financing costs		(477)		(670)
(Decrease) increase in cash and equivalents		(12,961)		12,104
Cash used for financing activities		(38,279)		(78,537)
(Decrease) increase in cash and equivalents		(10,294)		14,298
Cash and equivalents at beginning of period		20,762		6,561
Cash and equivalents at end of period	$	710,~~801~~468	$	1820,~~665~~859
Supplemental information
Leased assets (reduced) obtained in exchange for (reduced) new finance lease liabilities	$	(471)	$	9,382
Leased assets obtained in exchange for new finance lease liabilities	$	6,790	$	13,256
Leased assets obtained in exchange for new operating lease liabilities	$	610,~~341~~101	$	712,~~520~~264

See accompanying Notes to Consolidated Financial Statements.

Monro, Inc. Q1Q2 2026 Form 10-Q 6

Table of Contents

INDEX TO NOTES

Notes to Consolidated Financial Statements (unaudited)
Note 1 Description of Business and Basis of Presentation	8
Note 2 Divestiture	9
Note 3 (Loss) Earnings per Common Share	10
Note 4 Income Taxes	10
Note 5 Fair Value	10
Note 6 Cash Dividend	10
Note 7 Revenues	11
Note 8 Long-term Debt	11
Note 9 Commitments and Contingencies	12
Note 10 Supplier Finance Program	13
Note 11 Equity Capital Structure Reclassification	13
Note 12 Segment Reporting	14
Note 13 Related Parties and Transactions	14




Notes to Consolidated Financial Statements (unaudited)
Note 1 Description of Business and Basis of Presentation	8
Note 2 Divestiture	10
Note 3 Earnings (Loss) per Common Share	10
Note 4 Income Taxes	10
Note 5 Fair Value	11
Note 6 Cash Dividend	11
Note 7 Revenues	11
Note 8 Long-term Debt	12
Note 9 Commitments and Contingencies	13
Note 10 Supplier Finance Program	13
Note 11 Equity Capital Structure Reclassification	13
Note 12 Segment Reporting	14
Note 13 Related Parties and Transactions	14

Monro, Inc. Q1Q2 2026 Form 10-Q 7

Table of Contents

CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

Note 1 – Description of Business and Basis of Presentation

Description of business

Monro, Inc. and its direct and indirect subsidiaries (together, “Monro”, the “Company”, “we”, “us”, or “our”), are engaged principally in providing automotive undercar repair and tire replacement sales and tire related services in the United States. Monro had 1,~~115~~116 Company-operated retail stores located in 32 states and 47 Car-X franchised locations as of ~~June~~September 2827, 2025.

A certain number of our retail locations also service commercial customers. Our locations that serve commercial customers generally operate consistently with our other retail locations, except that the sales mix for these locations includes a higher number of commercial tires.

Monro’s operations are organized and managed as one single segment designed to offer to our customers replacement tires and tire related services, automotive undercar repair services as well as a broad range of routine maintenance services, primarily on passenger cars, light trucks and vans. We also provide other products and services for brakes; mufflers and exhaust systems; and steering, drive train, suspension and wheel alignment.

Basis of presentation

The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) applicable to interim financial statements. While these statements reflect all adjustments (consisting of items of a normal recurring nature) that are, in the opinion of management, necessary for a fair statement of the results of the interim period, they do not include all of the information and footnotes required by United States generally accepted accounting principles (“GAAP”) for complete financial statement presentation. The consolidated financial statements should be read in conjunction with the financial statement disclosures in our Form 10-K for the fiscal year ended March 29, 2025.

We use the same significant accounting policies in preparing quarterly and annual financial statements. For a description of our significant accounting policies followed in the preparation of the financial statements, see Note 1 of our Form 10-K for the fiscal year ended March 29, 2025.

Due to the seasonal nature of our business, quarterly operating results and cash flows are not necessarily indicative of the results that may be expected for other interim periods or the full year.

Fiscal year

We operate on a 52/53 week fiscal year ending on the last Saturday in March. Fiscal years 2026 and 2025 each cover 52 weeks. Unless specifically indicated otherwise, any references to “2026” or “fiscal 2026” and “2025” or “fiscal 2025” relate to the years ending March 28, 2026 and March 29, 2025, respectively.

Recent accounting pronouncements

In December 2023, the FASB issued new accounting guidance ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires income tax disclosure updates, primarily by requiring specific categories and greater disaggregation within the rate reconciliation and disaggregation of income taxes paid by jurisdiction. This guidance is effective for fiscal years beginning after December 15, 2024. We are required to adopt these disclosures for our annual reporting period ending March 28, 2026, and believe that the adoption will result in additional disclosures with no material impact to our consolidated financial statements.

In November 2024, the FASB issued new accounting guidance, ASU 2024-03, Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and operating, selling, general and administrative expenses. The guidance is effective for annual reporting periods beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. We are currently evaluating the impact of adopting this guidance.

~~Other~~In ~~recent~~September ~~authoritative~~2025, ~~guidance~~the FASB issued bynew ~~the~~accounting ~~FASB~~guidance, ~~(including~~ASU ~~technical~~2025-06, ~~corrections~~Intangibles to- ~~the~~Goodwill ~~Accounting~~and ~~Standards~~Other ~~Codification~~- Internal-Use Software (~~“ASC”~~Subtopic 350-40)): ~~and~~Targeted Improvements to the ~~SEC~~Accounting ~~did~~for ~~not~~Internal-Use orSoftware, ~~are~~which ~~not~~removes ~~expected~~references to ~~have~~prescriptive asoftware ~~material~~development ~~effect~~stages onand ~~our~~includes ~~consolidated~~an ~~financial~~updated ~~statements~~framework for capitalizing internal software costs. The guidance is effective for

Monro, Inc. Q1Q2 2026 Form 10-Q 8

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

annual reporting periods beginning after December 15, 2027, and for interim periods within that fiscal year. We are currently evaluating the impact of adopting this guidance.

Other recent authoritative guidance issued by the FASB (including technical corrections to the Accounting Standards Codification (“ASC”)) and the SEC did not or are not expected to have a material effect on our consolidated financial statements.

Supplemental information

Property and equipment, net: Property and equipment balances are shown on the Consolidated Balance Sheets net of accumulated depreciation of $~~417~~402.79 million and $434.3 million as of ~~June~~September 2827, 2025 and March 29, 2025, respectively.

Store Closings

On May 23, 2025, following an evaluation of market segmentation and demographic data specific to geographic areas where our stores are located, our Board of Directors approved a plan to close 145 underperforming stores that we identified to have failed to maintain an acceptable level of profitability (the “Store Closure Plan”). These stores were closed during the first quarter of fiscal 2026. Asand ~~a result of the store closures, we recorded~~ $14.8 million inof net store closing costs were recorded during the three months ended June 28, 2025. These costs are included in operating, selling, general and administrative expenses and represent expected costs to be incurred related to the vacating of stores, utilities, real estate taxes, maintenance, other on-going costs related to the properties, and the disposal of inventory and other store assets, net of gains on early lease terminations and sales of owned locations. As of ~~June~~September 2827, 2025, the Company ~~has~~had a remaining liability of $106.48 million, representing such costs to be settled in future periods, with $6.5.1 million and $31.97 million included within Other current liabilities and Other long-term liabilities in our Consolidated Balance Sheets, respectively. We expect these costs to be settled within the next one to five years.

During the three months ended September 27, 2025, the Company sold three owned stores and related equipment. We received net proceeds of $2.7 million and recorded a net gain of $1.2 million. Additionally, the Company assigned 18 leases to a third party and early terminated three additional leases. We received net proceeds of $2.8 million and recorded a net gain of $6.4 million, which included the derecognition of lease liabilities. The total net gain of $7.6 million was recorded in operating, selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the quarter ended September 27, 2025.

As a result, net store closing costs included in operating, selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) were $7.2 million for the six months ended September 27, 2025. Net store closing costs represent expected costs to be incurred related to the vacating of stores, utilities, real estate taxes, maintenance, other on-going costs related to the properties, and the disposal of inventory and other store assets, net of gains on early lease terminations, lease assignments and sales of owned locations.

We did not incur any material store closing costs in the three and six months ended September 28, 2024.

Assets held for sale

We classify long-lived assets to be sold as held for sale in the period in which all of the required criteria are met. We initially measure a long-lived asset that is classified as held for sale at the lower of its carrying value or fair value less any costs to sell. Any loss resulting from this measurement is recognized in the period in which the held-for-sale criteria are met. Conversely, gains are not recognized on the sale of a long-lived asset until the date of sale. Upon determining that a long-lived asset meets the criteria to be classified as held for sale, we cease depreciation and report long-lived assets, if material, as Assets held for sale in our Consolidated Balance Sheets.

We completed the closure of 145 underperforming stores under the Store Closure Plan during the first quarter of fiscal 2026. Weand determined that $13.0 million of building, land and certain equipment met the criteria to be classified as held for sale asfor ofthe quarter ended June 28, 2025. During the second quarter of fiscal 2026, approximately $1.5 million of assets held for sale were sold. We received net proceeds of approximately $2.7 million and recorded a net gain of approximately $1.2 million in operating, selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the quarter ended September 27, 2025. These net proceeds and net gain were recorded as a part of the Store Closure Plan amounts noted above. As of September 27, 2025, $11.5 million of buildings, land and certain equipment remain classified as assets held for sale.

On June 1, 2023, we announced the planned sale of our corporate headquarters at 200 Holleder Parkway in Rochester, New York and our plan to relocate our corporate headquarters to another location in the greater Rochester area and determined that the related assets met the criteria to be classified as held for sale. On July 3, 2024, we completed the sale of our corporate headquarters. We received net

Monro, Inc. Q2 2026 Form 10-Q

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

proceeds of approximately $9.1 million and recorded a net gain of approximately $2.8 million in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) for the quarter ended September 28, 2024.

Note 2 – Divestiture

On June 17, 2022, we completed the divestiture of assets relating to our wholesale tire operations (seven locations) and internal tire distribution operations to American Tire Distributors, Inc. (“ATD”). We received $62 million from ATD at the closing of the transaction, of which $5 million was held in escrow and subsequently paid in December 2023. The remaining $40 million (“Earnout”) of the total consideration of $102 million was paid quarterly over the past three years, based on our tire purchases from or through ATD pursuant to a distribution and fulfillment agreement with ATD. All amounts were fully collected as of ~~June~~the ~~28,~~first ~~2025~~quarter of fiscal 2026.

Under a distribution agreement between us and ATD, ATD agreed to supply and sell tires to retail locations we own. Our company-owned retail stores will be required to purchase at least 90 percent of their forecasted requirements for certain passenger car tires, light truck replacement tires, and medium truck tires from or through ATD. Any tires that ATD is unable to supply or fulfill from those categories will be excluded from the calculation of our requirements for tires. The initial term of the distribution agreement will expire January 1, 2030, with automatic 12-month renewal periods thereafter.

~~Monro,~~Note ~~Inc.~~3 Q1– ~~2026~~Earnings ~~Form~~(Loss) ~~10-Q~~per 9Common Share

Basic earnings (loss) per common share amounts are calculated by dividing income available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted earnings (loss) per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.



Earnings (Loss) per Common Share	Three Months Ended				Six Months Ended
(thousands, except per share data)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Numerator for earnings (loss) per common share calculation:
Net income (loss)	$	5,665	$	5,647	$	(2,385)	$	11,510
Less: Preferred stock dividends		(337)		(337)		(675)		(675)
Income (loss) available to common shareholders	$	5,328	$	5,310	$	(3,060)	$	10,835
Denominator for earnings (loss) per common share calculation:
Weighted average common shares - basic		30,000		29,934		29,983		29,925
Effect of dilutive securities:
Preferred stock		1,205		1,205		—		1,205
Restricted stock		158		85		—		71
Weighted average common shares - diluted		31,363		31,224		29,983		31,201

Basic earnings (loss) per common share	$	0.18	$	0.18	$	(0.10)	$	0.37
Diluted earnings (loss) per common share	$	0.18	$	0.18	$	(0.10)	$	0.37

Diluted earnings (loss) per share includes the potential dilutive effect of common stock equivalents as if such securities were converted or exercised during the period when the effect is dilutive. Because the impact of these items is generally anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per common share for periods with net losses.

Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted earnings (loss) per common share.

Note 4 – Income Taxes

For the three months and six months ended September 27, 2025, our effective income tax rate was 32.9 percent and (5.4) percent, respectively, compared to 30.9 percent and 29.7 percent for the three months and six months ended September 28, 2024, respectively. The difference from the statutory rate is primarily due to state taxes and the discrete tax expenses impact related to share-based awards and other adjustments, none of which are individually significant.

On July 4, 2025, the “H.R.1: One Big Beautiful Bill Act” (OBBBA) became law. The OBBBA contains a broad range of tax reform provisions with various effective dates affecting business taxpayers. The legislation did not have a material impact on our effective tax rate for the three and six months ended September 27, 2025, and we do not expect it to have a material impact on our consolidated financial statements for the year ending March 28, 2026.

Monro, Inc. Q2 2026 Form 10-Q

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#x200eNOTES

Note 3 – (Loss) Earnings per Common Share

Basic (loss) earnings per common share amounts are calculated by dividing income available to common shareholders, after deducting preferred stock dividends, by the weighted average number of shares of common stock outstanding. Diluted (loss) earnings per common share amounts are calculated by dividing net income by the weighted average number of shares of common stock outstanding adjusted to give effect to potentially dilutive securities.

(Loss) Earnings per Common Share	Three Months Ended
(thousands, except per share data)	June 28, 2025		June 29, 2024
Numerator for (loss) earnings per common share calculation:
Net (loss) income	$	(8,050)	$	5,863
Less: Preferred stock dividends		(337)		(337)
(Loss) income available to common shareholders	$	(8,387)	$	5,526
Denominator for (loss) earnings per common share calculation:
Weighted average common shares - basic		29,967		29,916
Effect of dilutive securities:
Preferred stock		—		1,205
Stock options		—		—
Restricted stock		—		98
Weighted average common shares - diluted		29,967		31,219
Basic (loss) earnings per common share	$	(0.28)	$	0.19
Diluted (loss) earnings per common share	$	(0.28)	$	0.19

Diluted (loss) earnings per share includes the potential dilutive effect of common stock equivalents as if such securities were converted or exercised during the period when the effect is dilutive. Because the impact of these items is generally anti-dilutive during periods of net loss, there is no difference between basic and diluted loss per common share for periods with net losses.

Weighted average common share equivalents that have an anti-dilutive impact are excluded from the computation of diluted (loss) earnings per common share.

Note 4 – Income Taxes

For the three months ended June 28, 2025, our effective income tax rate was 24.8 percent, compared to 28.5 percent for the three months ended June 29, 2024. The difference from the statutory rate is primarily due to state taxes and the discrete tax impact related to share-based awards.

On July 4, 2025, President Donald J. Trump signed into law the “H.R.1: One Big Beautiful Bill Act” (OBBBA). The OBBBA contains a broad range of tax reform provisions with various effective dates affecting business taxpayers, and we continue to assess its impact. We currently do not expect the OBBBA to have a material impact on our consolidated financial statements.

Note 5 – Fair Value

Long-term debt had a carrying amount that approximates a fair value of $7160.50 million as of ~~June~~September 2827, 2025, as compared to a carrying amount and a fair value of $61.3 million as of March 29, 2025. The carrying value of our debt approximated its fair value due to the variable interest nature of the debt.

Note 6 – Cash Dividend

We declared and paid dividends of $0.28 per share totaling $8.7 million ~~during~~for each of the three months ended ~~June~~September 27, 2025 and September 28, 2024 and $0.56 per share totaling $17.5 million and $17.4 million for each of the six months ended September 27, 2025 and September 28, 2024, respectively. The declaration of future dividends will be at the discretion of the Board of Directors and will depend on our financial condition, results of operations, capital requirements, compliance with charter and contractual restrictions, and such other factors as the Board of Directors deems relevant. Our Credit Facility contains covenants that may limit, subject to certain exemptions, our ability to declare dividends and other distributions. For additional information regarding our Credit Facility, see Note 8.

Monro, Inc. Q1 2026 Form 10-Q 10

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CONSOLIDATED FINANCIAL STATEMENTS#x200eNOTES

Note 7 – Revenues

Automotive undercar repair, tire replacement sales and tire related services represent the vast majority of our revenues. We also earn revenue from the sale of tire road hazard warranty agreements, commissions earned from the delivery of tires on behalf of certain tire vendors, as well as franchise royalties.

Revenue from automotive undercar repair, tire replacement sales and tire related services is recognized at the time the customers take possession of their vehicle or merchandise. For sales to certain customers that are financed through the offering of credit on account, payment terms are established for customers based on our pre-established credit requirements. Payment terms may vary depending on the customer and generally are 30 days. Based on the nature of receivables, no significant financing components exist. Sales are recorded net of discounts, sales incentives and rebates, sales taxes and estimated returns and allowances. We estimate the reduction to sales and cost of sales for returns based on current sales levels and our historical return experience. Such amounts are immaterial to our consolidated financial statements.

Revenues	Three Months Ended				Six Months Ended
(thousands)	~~June~~September 2827, 2025		~~June~~September 2928, 2024		September 27, 2025		September 28, 2024
Tires (a)	$	~~138~~135,~~396~~150	$	~~135~~141,~~413~~514	$	273,546	$	276,927
Maintenance		8279,~~928~~001		83,~~060~~075		161,929		166,135
Brakes		4440,~~469~~323		4140,~~237~~643		84,792		81,880
Steering		2625,~~741~~076		24,~~859~~981		51,817		49,840
Batteries		4,~~206~~627		36,~~802~~285		8,833		10,087
Exhaust		34,~~906~~338		4,~~387~~513		8,244		8,900
Franchise royalties		~~389~~399		~~424~~380		788		804
Total	$	~~301~~288,~~035~~914	$	~~293~~301,~~182~~391	$	589,949	$	594,573

(a) Includes the sale of tire road hazard warranty agreements and tire delivery commissions.

Revenue from the sale of tire road hazard warranty agreements is initially deferred and is recognized over the contract period as costs are expected to be incurred in performing such services, typically 21 to 36 months. The deferred revenue balances at ~~June~~September 2827, 2025 and March 29, 2025 were $2019.68 million and $21.0 million, respectively, of which $1413.49 million and $14.7 million, respectively, are reported in Deferred revenue and $65.29 million and $6.3 million, respectively, are reported in Other long-term liabilities in our Consolidated Balance Sheets.

Changes in Deferred Revenue
(thousands)
Balance at March 29, 2025	$	21,048
Deferral of revenue		49,~~848~~335
Recognition of revenue		(510,~~334~~539)
Balance at June 28, 2025	$	20,562
Balance at September 27, 2025	$	19,844

As of ~~June~~September 2827, 2025, we expect to recognize $118.95 million of deferred revenue related to road hazard warranty agreements in the remainder of fiscal 2026, $68.97 million of deferred revenue during our fiscal year ending March 27, 2027, and $12.86 million of deferred revenue thereafter.

~~Under various arrangements~~Monro, ~~we receive from certain tire vendors a delivery commission and reimbursement for the cost of the tire that we may deliver to customers on behalf of the tire vendor~~Inc. ~~The~~Q2 ~~commission~~2026 weForm ~~earn~~10-Q ~~from these transactions is as an agent and the net amount retained is recorded as sales.~~ 11

Monro, Inc. Q1 2026 Form 10-Q 11

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

Under various arrangements, we receive from certain tire vendors a delivery commission and reimbursement for the cost of the tire that we may deliver to customers on behalf of the tire vendor. The commission we earn from these transactions is as an agent and the net amount retained is recorded as sales.

Note 8 – Long-term Debt

Credit Facility

In April 2019, we entered into a five-year $600 million revolving credit facility agreement with eight banks (the “Credit Facility”) that includes an accordion feature permitting us to request an increase in availability of up to an additional $250 million. In November 2022, we entered into a Third Amendment to the Credit Facility (the “Third Amendment”). The Third Amendment, among other things, extended the term of the Credit Facility to November 10, 2027, and amended certain of the financial terms in the Credit Facility. The Third Amendment amended the interest rate charged on borrowings to be based on 0.10 percent over the Secured Overnight Financing Rate (“SOFR”), replacing the previously used LIBOR. In addition, one additional bank was added to the bank syndicate for a total of nine banks now within the syndicate. Under the Third Amendment, we were required to maintain an interest coverage ratio, as defined in the Credit Facility, of at least 1.55 to 1. In addition, our ratio of adjusted debt to EBITDAR, as defined in the Credit Facility, cannot exceed 4.75 to 1, subject to certain exceptions under the Credit Facility. These terms are modified during the “Extended Covenant Relief Period,” described below.

On May 23, 2024, we entered into a Fourth Amendment to the Credit Facility (the “Fourth Amendment”). Among other changes, the Fourth Amendment modified the definition of “EBITDAR” to permit add-backs relating to expenses, and restrict add-backs related to gains, associated with store closures of (a) all non-cash items and (b) cash items up to 20% of EBITDA from the first quarter of fiscal 2025 through the fourth quarter of fiscal 2026 and up to 15% of EBITDA from the first quarter of fiscal 2027 and thereafter.

See Note 6 of our Form 10-K for the fiscal year ended March 29, 2025 for additional information.

On May 23, 2025, we entered into an amendment (the “Fifth Amendment”) to our Credit Facility. The Fifth Amendment amends the terms of certain of the financial and restrictive covenants in the Credit Facility to provide us with additional flexibility to operate our business from the first quarter of fiscal 2026 through the first quarter of fiscal 2027 (the “Extended Covenant Relief Period”). We may voluntarily exit the Extended Covenant Relief Period at any time, which would revert the terms of the Credit Facility to the terms existing before the Fourth Amendment, with the exception of the modified definition of “EBITDAR,” described below.

During the Extended Covenant Relief Period, the minimum interest coverage ratio ~~will~~is be reduced from 1.55x to 1.00x to: (a) 1.15x to 1.00x from the first quarter of fiscal 2026 through the third quarter of fiscal 2026; (b) 1.25x to 1.00x from the fourth quarter of fiscal 2026 through the first quarter of fiscal 2027; and (c) 1.55x to 1.00x for the second quarter of fiscal 2027 and thereafter. During the Extended Covenant Relief Period, the maximum ratio of adjusted debt to EBITDAR remains at 4.75x to 1.00x, except that, if we completed a qualified acquisition during the Extended Covenant Relief Period, the maximum ratio would increase to 5.00x to 1.00x for a certain 12-month period after the qualified acquisition. In addition to the Fourth Amendment modifications, the Fifth Amendment further modifies the definition of “EBITDAR” to permit add-backs relating to non-cash impairment and other expenses, with the restriction for add-backs of certain cash expense items up to 20% of EBITDA from the first quarter of fiscal 2026 through the fourth quarter of fiscal 2026 and up to 15% of EBITDA from the first quarter of fiscal 2027 and thereafter.

During the Extended Covenant Relief Period, the interest rate spread charged on borrowings is 225 basis points.

During the Extended Covenant Relief Period, the restrictions on our ability to declare dividends were modified to reduce the cushion inside the threshold required for us to be able to declare dividends without restriction from 0.50x to 0.25x. In addition, during the Extended Covenant Relief Period, we must have minimum liquidity of at least $300 million to declare dividends. We are prohibited from repurchasing our securities during the Extended Covenant Relief Period if there are outstanding amounts under the Credit Facility immediately before or after giving effect to the repurchase. During the Extended Covenant Relief Period, we may acquire stores or other businesses as long as we have minimum liquidity of at least $300 million after completing the acquisition.

In addition, the Fifth Amendment permanently reduces the Credit Facility from $600 million to $500 million.

Except as amended by the First Amendment, Second Amendment, Third Amendment, Fourth Amendment and Fifth Amendment, the remaining terms of the Credit Facility remain in full force and effect.

~~remaining~~We ~~terms~~were ofin ~~the~~compliance ~~Credit~~with ~~Facility~~all ~~remain~~debt incovenants ~~full~~at ~~force~~September ~~and~~27, ~~effect~~2025.

WeMonro, ~~were~~Inc. inQ2 ~~compliance~~2026 ~~with~~Form ~~all~~10-Q ~~debt covenants at June 28, 2025.~~12

Within the Credit Facility, we have a sub-facility of $80 million available for the purpose of issuing standby letters of credit. The sub-facility requires fees aggregating 87.5 to 212.5 basis points annually of the face amount of each standby letter of credit, payable quarterly in arrears. There was a $30.1 million outstanding letter of credit at June 28, 2025.

Monro, Inc. Q1 2026 Form 10-Q 12

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

~~There~~Within ~~was~~the Credit Facility, we have a sub-facility of $7180 million available for the purpose of issuing standby letters of credit. The sub-facility requires fees aggregating 87.5 ~~million~~to ~~outstanding~~212.5 ~~and~~basis points annually of the face amount of each standby letter of credit, payable quarterly in arrears. There was a $~~398~~30.41 million ~~available~~outstanding ~~under~~letter ~~the~~of ~~Credit~~credit ~~Facility~~ at ~~June~~September 2827, 2025, ~~subject~~and toat ~~compliance~~March ~~with~~29, ~~our covenants~~2025.

There was $60.0 million outstanding and $409.9 million available under the Credit Facility as of September 27, 2025, subject to compliance with our covenants, as compared to $61.3 million outstanding and $508.7 million available as of March 29, 2025.

Note 9 – Commitments and Contingencies

Commitments

Commitments Due by Period

Within

Within 2 to

Within 4 to

After

(thousands)

Total

1 Year

3 Years

5 Years

Principal payments on long-term debt

7160,~~546~~000

—

7160,~~546~~000

—

Finance lease commitments/financing obligations (a)

~~300~~294,~~668~~691

48,~~752~~581

88,~~548~~298

6364,~~353~~230

~~100~~93,~~015~~582

Operating lease commitments (a)

~~238~~228,~~009~~697

4847,~~120~~144

8078,~~856~~007

4947,~~634~~829

5955,~~399~~717

Total

~~610~~583,~~223~~388

9695,~~872~~725

~~240~~226,~~950~~305

112,~~987~~059

~~159~~149,~~414~~299

(a)Finance and operating lease commitments represent future undiscounted lease payments and include $5350.37 million and $3230.4 million, respectively, related to options to extend lease terms that are reasonably certain of being exercised.

Contingencies

We are currently a party to various claims and legal proceedings incidental to the conduct of our business. If management believes that a loss arising from any of these matters is probable and can reasonably be estimated, we will record the amount of the loss, or the minimum estimated liability when the loss is estimated using a range, and no point within the range is more probable than another.

As additional information becomes available, any potential liability related to these matters is assessed and the estimates are revised, if necessary. Litigation is subject to inherent uncertainties, and unfavorable rulings could occur and may include monetary damages. If an unfavorable ruling were to occur, there exists the possibility of a material adverse impact on the financial position and results of operations of the period in which any such ruling occurs, or in future periods.

Note 10 – Supplier Finance Program

We facilitate a voluntary supply chain financing program to provide our suppliers with the opportunity to sell receivables due from us (our accounts payable) to a participating financial institution subject to the independent discretion of both the supplier and the participating financial institution. Should a supplier choose to participate in the program, it may receive payment from the financial institution in advance of agreed payment terms; our responsibility is limited to making payments to the respective financial institution on the terms originally negotiated with our supplier, which are generally for a term of up to 360 days.

Our outstanding supplier obligations eligible for advance payment under the program totaled $~~231~~232.76 million, $245.5 million, and $~~195~~234.67 million as of ~~June~~September 2827, 2025, March 29, 2025, and ~~June~~September 2928, 2024, respectively, and are included within Accounts Payable on our Consolidated Balance Sheets. Our outstanding supplier obligations do not represent actual receivables sold by our suppliers to the financial institutions, which may be lower.

Note 11 – Equity Capital Structure Reclassification

On May 12, 2023, we entered into a reclassification agreement (the “Reclassification Agreement”) with the holders (the “Class C Holders”) of our Class C Convertible Preferred Stock (the “Class C Preferred Stock”) to reclassify our equity capital structure to eliminate the Class C Preferred Stock.

Under the Reclassification Agreement, after receiving shareholder approval on August 15, 2023, we filed amendments to our certificate of incorporation (the “Certificate of Incorporation”) to create a mandatory conversion of any outstanding shares of Class C Preferred Stock prior to an agreed sunset date of the earliest of (i) August 15, 2026; (ii) the first business day immediately prior to the record date established for the determination of the shareholders of the Company entitled to vote at the Company’s 2026 annual meeting of shareholders; and (iii) the date on which the Class C Holders, in the aggregate, cease to beneficially own at least 50% of all shares of the Class C Preferred Stock issued and outstanding as of May 12, 2023. In exchange for this sunset of the Class C Preferred Stock, the conversion rate of Class C Preferred Stock was adjusted so that each share of Class C Preferred Stock will convert into 61.275 shares of common stock (the “adjusted conversion rate”), an increase from the prior conversion rate of 23.389 shares of common stock for each share of Class C Preferred Stock under the Certificate of Incorporation.

Monro, Inc. Q1Q2 2026 Form 10-Q 13

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

At the end of the sunset period, all shares of Class C Preferred Stock remaining outstanding will be automatically converted into shares of common stock at the adjusted conversion rate. In addition, the liquidation preference for the Class C Preferred Stock was amended to provide that, upon a liquidation event, each holder of Class C Preferred Stock would be entitled to receive, for each share of Class C Preferred Stock held by the holder upon a liquidation, dissolution, or winding up of the affairs of the Company, an amount equal to the greater of $1.50 per share and the amount the holder would have received had each share of Class C Preferred Stock been converted to shares of common stock immediately prior to the liquidation, dissolution, or winding up. There was no Class C Preferred Stock converted during the ~~quarter~~six months ended ~~June~~September 2827, 2025 or fiscal 2025. The Reclassification Agreement also provides that, during the sunset period, the Class C Holders will have the right to appoint one member of the Board of Directors. This designee is expected to be Peter J. Solomon, who is one of the Company’s current directors and one of the Class C Holders.

We have determined the amendments to the Class C Preferred Stock, because of the Reclassification Agreement, should be accounted for as a modification.

Note 12 – Segment Reporting

The Company has a single reportable operating segment “Monro, Inc.” The accounting policies of the operating segment are the same as those described in Note 1 of our Form 10-K. The Company’s chief operating decision maker (“CODM”) is the Chief Executive Officer, who regularly reviews financial information presented on a consolidated basis for purposes of allocating resources and evaluating financial performance for the Company’s single reportable segment. The CODM primarily focuses on consolidated net income to evaluate its reportable segment. The CODM also uses consolidated net income for evaluating pricing strategy and to assess the performance for determining the compensation of certain employees. All segment expenses reviewed, which represent the difference between segment revenue and segment net income, consisted of the following:

Segment Reporting	Three Months Ended					Six Months Ended
(thousands)		~~June~~September 2827, 2025		September 28, 2024	~~June 29, 2024~~		September 27, 2025		September 28, 2024
Sales	$	~~301~~288,~~035~~914	$	$301,391	~~293,182~~	$	589,949	$	594,573
Less:
Cost of sales, including occupancy costs		~~181~~172,~~090~~902		180,320	~~169,202~~		353,991		349,522
Operating, selling, general and administrative expenses		~~110~~87,~~429~~987		90,373	~~92,992~~		198,417		183,364
Depreciation and amortization expense		15,~~591~~275		17,496	~~17,742~~		30,866		35,238
Interest expense, net		4,~~784~~350		5,136	~~5,144~~		9,134		10,279
Other segment items (a)		(~~158~~38)		(110)	~~(93)~~		(196)		(201)
(Benefit from) provision for income taxes		(2,651)			2,332
Provision for income taxes		2,773		2,529			122		4,861
Net (loss) income	$	(8,050)		$	5,863
Net income (loss)	$	5,665	$	5,647		$	(2,385)	$	11,510

(a) Other segment items consist of other income, net, included in the accompanying Consolidated Statements of Income (Loss) ~~Income~~ and Comprehensive Income (Loss) ~~Income~~.

As of ~~June~~September 2827, 2025, March 29, 2025 and ~~June~~September 2928, 2024, assets held in the U.S. accounted for 100% of total assets.

There were no major customers individually accounting for 10% or more of consolidated net revenues.

Note 13 – Related Parties and Transactions

The Board of Directors of the Company appointed Peter D. Fitzsimmons to serve as the President and Chief Executive Officer as of March 28, 2025. Mr. Fitzsimmons has served as a partner and managing director of AlixPartners, LLP (“AlixPartners”). In connection with Mr. Fitzsimmons’ appointment, the Company entered into a consulting agreement with AP Services, LLC (“APS”), an affiliate of AlixPartners, pursuant to which APS will provide for Mr. Fitzsimmons to serve as the Company’s Chief Executive Officer and for the additional resources of APS personnel as required.

On March 28, 2025, the Company also entered into a consulting agreement with AlixPartners pursuant to which AlixPartners will assess the Company’s operations to develop a plan to improve the Company’s financial performance. On May 30, 2025, the Company amended its consulting agreement with AlixPartners, pursuant to which AlixPartners will provide services to implement the plan developed from its detailed assessment of the Company (the “Operational Improvement Plan”). Such services include the previously disclosed Store Closure Plan, improving customer experience and the Company’s selling effectiveness, driving profitable customer acquisition and activation, and increasing merchandising productivity, including mitigating tariff risk.

~~The~~On May 30, 2025, the Company ~~incurred~~entered ~~total~~into ~~expenses~~Addendum ~~related~~1 of its consulting agreement with AlixPartners, pursuant to which AlixPartners ~~and~~will ~~APS~~provide ofservices ~~$5.4~~to ~~million~~implement ~~during~~the plan developed from its detailed assessment of the ~~three~~Company ~~months~~(the ~~ended~~“Operational ~~June~~Improvement 28Plan”) through July 31, 2025. Such services include the previously disclosed Store Closure Plan, ofimproving ~~which~~customer ~~$3.2~~experience ~~million~~and isthe ~~within~~Company’s ~~Other~~selling ~~current~~effectiveness, ~~liabilities~~driving inprofitable ~~our~~customer ~~Consolidated~~acquisition ~~Balance~~and ~~Sheets~~activation, atand ~~June~~increasing 28merchandising productivity, ~~2025~~including mitigating tariff risk.

Monro, Inc. Q1Q2 2026 Form 10-Q 14

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CONSOLIDATED FINANCIAL STATEMENTS
#x200eNOTES

On August 18, 2025, the Company entered into Amendment 1 to Addendum 1 of its consulting agreement with AlixPartners, effective as of July 31, 2025, pursuant to which AlixPartners will continue to provide services to implement the next phase of the Operational Improvement Plan through November 1, 2025. Such services will include store operations and selling effectiveness, marketing and pricing, merchandising and inventory management, customer segmentation and insights.

The Company incurred total expenses related to AlixPartners and APS of $9.1 million and $14.5 million in operating, selling, general and administrative expenses in our Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) during the three and six months ended September 27, 2025, respectively, of which $2.5 million is within Other current liabilities in our Consolidated Balance Sheets at September 27, 2025.

Monro, Inc. Q2 2026 Form 10-Q

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MANAGEMENT’S DISCUSSION AND ANALYSIS

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Recent Developments

On May 23, 2025, following an evaluation of market segmentation and demographic data specific to geographic areas where our stores are located, our Board of Directors approved a plan to close 145 underperforming stores that we ~~entered~~identified ~~into~~to have failed to maintain an ~~amendment~~acceptable level of profitability (the “~~Fifth~~Store ~~Amendment~~Closure Plan”). toThese ~~our~~stores ~~Credit~~were ~~Facility,~~closed ~~which~~during the first quarter of fiscal 2026 and $14.8 million of net store closing costs were recorded during the quarter ended June 28, ~~among~~2025. ~~other~~During ~~things~~the three months ended September 27, ~~amends~~2025, the ~~terms~~Company sold three owned stores, early terminated three leases, and assigned 18 leases to a third party. We received net proceeds of ~~certain~~approximately $5.5 million and recorded a net gain of ~~the~~approximately ~~financial~~$7.6 million in operating, selling, general and ~~restrictive~~administrative ~~covenants~~expenses in ~~the~~our ~~credit~~Consolidated ~~agreement~~Statements toof ~~provide~~Income us(Loss) ~~with~~and ~~additional~~Comprehensive ~~flexibility~~Income to(Loss) ~~operate~~for ~~our~~the ~~business~~quarter ~~from~~ended September 27, 2025. As a result of the ~~first~~store ~~quarter~~closures, we recorded net store closing costs of ~~fiscal~~$7.2 ~~2026~~million ~~through~~during the ~~first~~six ~~quarter~~months ofended ~~fiscal~~September ~~2027~~27, 2025. See additional discussion related to the ~~Fifth~~Store ~~Amendment~~Closure Plan in Note 81 to our consolidated financial statements.

On ~~May~~August 2318, 2025, ~~following~~the anCompany ~~evaluation~~entered ofinto ~~market~~Amendment ~~segmentation~~1 ~~and~~to ~~demographic~~Addendum ~~data~~1 ~~specific~~of toits ~~geographic~~consulting ~~areas~~agreement ~~where~~with ~~our~~AlixPartners, ~~stores~~LLP ~~are located~~(“AlixPartners”), ~~our~~effective ~~Board~~as of ~~Directors~~July ~~approved~~31, a2025, ~~plan~~pursuant to ~~close~~which ~~145~~AlixPartners ~~underperforming~~will ~~stores~~continue ~~that we identified~~ to ~~have~~provide ~~failed~~services to ~~maintain~~implement anthe ~~acceptable~~next ~~level~~phase of ~~profitability (~~the ~~“Store~~plan ~~Closure~~developed ~~Plan”).~~from ~~These~~its ~~stores~~detailed ~~were~~assessment ~~closed~~of ~~during~~ the ~~first~~Company ~~quarter~~(the of“Operational ~~fiscal~~Improvement ~~2026.~~Plan”) Asthrough aNovember ~~result~~1, of2025. ~~the~~Such ~~store~~services ~~closures,~~will weinclude ~~recorded~~store ~~net~~operations ~~store~~and ~~closing~~selling ~~costs~~effectiveness, ofmarketing ~~$14.8~~and ~~million~~pricing, ~~during~~merchandising ~~the~~and ~~three~~inventory ~~months~~management, ~~ended~~customer ~~June~~segmentation ~~28,~~and ~~2025~~insights. See additional discussion ~~related to the Store Closure Plan~~ in Note 113 to our consolidated financial statements.

On May 30, 2025, the Company amended its consulting agreement with AlixPartners, LLP (“AlixPartners”), pursuant to which AlixPartners will provide services to implement the plan developed from its detailed assessment of the Company (the “Operational Improvement Plan”). Such services include the previously disclosed Store Closure Plan, improving customer experience and the Company’s selling effectiveness, driving profitable customer acquisition and activation, and increasing merchandising productivity, including mitigating tariff risk. See additional discussion in Note 13 to our consolidated financial statements.

Financial Summary

~~First~~Second quarter 2026 included the following notable items:

Diluted ~~loss~~earnings per common share (“EPS”) was $0.2818.

Adjusted diluted ~~earnings per common share (“~~EPS”), a non-GAAP measure, was $0.2221.

Sales ~~increased~~decreased 24.71 percent, due to ~~higher~~closed ~~overall~~stores ~~comparable store sales~~ partially offset by ~~closed~~higher ~~stores~~overall comparable store sales.

Comparable store sales increased 51.71 percent from the prior year period.

Operating ~~loss~~income was $612.18 million.

Adjusted operating income, a non-GAAP measure, was $14.0 million.

Net ~~loss~~income was $85.17 million.

Adjusted net income, a non-GAAP measure, was $76.06 million.

Earnings Per Common Share	Three Months Ended						Six Months Ended
	June 28, 2025		June 29, 2024		Change
	September 27, 2025		September 28, 2024		Change		September 27, 2025		September 28, 2024		Change
Diluted (loss) earnings per common share	$	(0.28)	$	0.19	(247.4)	%
Diluted earnings (loss) per common share	$	0.18	$	0.18	—	%	$	(0.10)	$	0.37	(73.0)	%
Adjustments		0.5003		(0.0302)				0.54		0.02
Adjusted diluted earnings per common share	$	0.2221	$	0.2217	(023.0)5	%	$	0.43	$	0.39	10.3	%

~~Adjusted~~Note: ~~operating~~Amounts ~~income,~~may ~~adjusted net income and adjusted diluted EPS, each of which is a measure~~ not ~~derived~~foot indue ~~accordance with GAAP, exclude the impact of certain items. Management believes that adjusted operating income, adjusted net income and adjusted diluted EPS are useful in providing period-~~to~~-period~~ comparisons of the results of our operations by excluding certain items that are not part of our core operations, such as store closing costs, consulting costs related to the Company’s Operational Improvement Plan, transition costs related to back-office optimization, store impairment charges, corporate headquarters relocation costs and write-off of debt issuance costsrounding. ~~Reconciliations of these non-GAAP financial measures to GAAP measures are provided beginning on page 18 under “Non-GAAP Financial Measures.”~~

Adjusted operating income, adjusted net income and adjusted diluted EPS, each of which is a measure not derived in accordance with GAAP, exclude the impact of certain items. Management believes that adjusted operating income, adjusted net income and adjusted diluted EPS are useful in providing period-to-period comparisons of the results of our operations by excluding certain items that are not part of our core operations, such as consulting costs related to the Company’s Operational Improvement Plan, store closing costs net of gains on sales of closed stores, lease assignments and early lease terminations, transition costs related to back-office optimization, store impairment charges, write-off of debt issuance costs, and gain on the sale of corporate headquarters net of closing and relocation costs. Reconciliations of these non-GAAP financial measures to GAAP measures are provided beginning on page 19 under “Non-GAAP Financial Measures.”

We define comparable store sales as sales for locations that have been opened or owned at least one full fiscal year. We believe this period is generally required for new store sales levels to begin to normalize. Management uses comparable store sales to assess the operating performance of the Company’s stores and believes the metric is useful to investors because our overall results are dependent upon the results of our stores. Comparable sales measures vary across the retail industry. Therefore, our comparable store sales calculation is not necessarily comparable to similarly titled measures reported by other companies.

Monro, Inc. Q1Q2 2026 Form 10-Q 1516

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS

Analysis of Results of Operations

Summary of Operating (Loss) Income	Three Months Ended
Summary of Operating Income	Three Months Ended						Six Months Ended
(thousands)	~~June~~September 2827, 2025		~~June~~September 2928, 2024		Change		September 27, 2025		September 28, 2024		Change
Sales	$	~~301~~288,~~035~~914	$	~~293~~301,~~182~~391	2(4.71)	%	$	589,949	$	594,573	(0.8)	%
Cost of sales, including occupancy costs		~~194~~185,~~129~~800		~~183~~195,~~997~~014	5(4.57)			379,929		379,010	0.2
Gross profit		~~106~~103,~~906~~114		~~109~~106,~~185~~377	(23.1)			210,020		215,563	(2.6)
Operating, selling, general and administrative expenses		~~112~~90,~~981~~364		9593,~~939~~175	17(3.80)			203,345		189,114	7.5
Operating (loss) income	$	(6,075)	$	13,246	(145.9)	%
Operating income	$	12,750	$	13,202	(3.4)	%	$	6,675	$	26,449	(74.8)	%

Sales

Sales include automotive undercar repair, tire replacement and tire related service sales, net of discounts, returns, and revenue from the sale of warranty agreements and commissions earned from the delivery of tires. See Note 7 to our consolidated financial statements for further information. We use comparable store sales to evaluate the performance of our existing stores by measuring the change in sales for a period over the comparable, prior-year period. There were 9091 selling days in each of the three months ended ~~June~~September 27, 2025 and September 28, 2024, and 181 selling days in each of the six months ended September 27, 2025 and ~~June~~September 2928, 2024.

Sales growth – from both comparable store sales and new stores – represents an important driver of our long-term profitability. We expect that comparable store sales growth will significantly impact our total sales growth. We believe that our ability to successfully differentiate our customers’, often referred to as “guests”, experience through a careful combination of merchandise assortment, price strategy, convenience, and other factors will, over the long-term, drive both increasing guest traffic and the average ticket amount spent.

Sales	Three Months Ended					Six Months Ended
(thousands)	~~June~~September 2827, 2025			~~June~~September 2928, 2024		September 27, 2025			September 28, 2024
Sales	$	~~301~~288,~~035~~914		$	~~293~~301,~~182~~391	$	589,949		$	594,573
Dollar change compared to prior year	$	7(12,~~853~~477)				$	(4,624)
Percentage change compared to prior year		2(4.71)	%				(0.8)	%

The sales ~~increase~~decrease was due to ana ~~increase~~decrease in ~~comparable~~sales ~~store~~from ~~sales~~closed stores partially offset by aan ~~decrease~~increase in ~~sales~~comparable ~~from~~store ~~closed stores~~sales. The following table shows the primary drivers of the change in sales for the three months and six months ended ~~June~~September 2827, 2025, as compared to the same ~~period~~periods ended ~~June~~September 2928, 2024.

Sales Percentage Change	Three Months Ended			Six Months Ended
		June 28, 2025
		September 27, 2025			September 27, 2025
Sales change		2(4.71)	%		(0.8)	%
Primary drivers of change in sales
Comparable store sales		51.71	%		3.4	%
Closed store sales		(35.02)	%		(4.2)	%

During the three months and six months ended ~~June~~September 2827, 2025, comparable store sales increased ~~across our product categories with significant growth~~ in our front end/shocks category, as well as our ~~batteries and~~ brakes ~~categories~~category, each of which experienced ~~significant~~ declines during the three months and six months ended ~~June~~September 2928, 2024. The following table shows the primary drivers of the comparable store product category sales change for the three months and six months ended ~~June~~September 2827, 2025, as compared to the same ~~period~~periods ended ~~June~~September 2928, 2024.

Comparable Store Product Category Sales Change	Three Months Ended				Six Months Ended
	June 28, 2025		June 29, 2024
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Front end/shocks	2618	%	(155)	%	22	%	(10)	%
Batteries	9	%	(6)	%
Brakes	6	%	(12)	%	8	%	(12)	%
Brakes	9	%	(13)	%
Maintenance service	0	%	(7)	%	2	%	(8)	%
Tires	40	%	(84)	%	2	%	(6)	%
Maintenance service	4	%	(10)	%
Alignment	(5)	%	0	%	(3)	%	(5)	%
Alignment	0	%	(9)	%
Batteries	(21)	%	20	%	(9)	%	8	%

Monro, Inc. Q1Q2 2026 Form 10-Q 1617

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS

Sales by Product Category	Three Months Ended				Six Months Ended
	June 28, 2025		June 29, 2024
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Tires	4647	%	4647	%	46	%	46	%
Maintenance service	2827		28		28		28
Brakes	1514		14		14		14
Steering (a)	9		98		9		8
Batteries	12		12		2		2
Other	1		21		1		2
Total	100	%	100	%	100	%	100	%

(a)Steering product category includes front end/shocks and alignment product category sales.

Change in Number of Company-Operated Retail Stores	Three Months Ended		Six Months Ended
	June 28, 2025	June 29, 2024
	September 27, 2025	September 28, 2024	September 27, 2025	September 28, 2024
Beginning store count	1,~~260~~115	1,~~288~~284	1,260	1,288
Closed (a)	(145)	(4)
Opened (a)	1	—	1	—
Ending store count	1,115	1,284
Closed (b)	—	(12)	(145)	(16)
Ending store count	1,116	1,272	1,116	1,272

(a)~~All~~We ~~145~~reopened ~~stores~~a ~~were~~store ~~closed~~that inwas ~~the~~temporarily ~~first~~closed ~~quarter~~in ofa ~~fiscal~~prior ~~2026~~year asduring athe ~~result~~three ofmonths ~~the~~ended ~~Store~~September ~~Closure~~27, ~~Plan~~2025.

(b)All 145 stores were closed in the first quarter of fiscal 2026 as a result of the Store Closure Plan.

Cost of Sales and Gross Profit

Gross Profit	Three Months Ended						Six Months Ended
(thousands)	~~June~~September 2827, 2025			~~June~~September 2928, 2024			September 27, 2025			September 28, 2024
Gross profit	$	~~106~~103,~~906~~114		$	~~109~~106,~~185~~377		$	210,020		$	215,563
Percentage of sales		35.57	%		3735.23	%		35.6	%		36.3	%
Dollar change compared to prior year	$	(23,~~279~~263)					$	(5,543)
Percentage change compared to prior year		(23.1)	%					(2.6)	%

Gross profit, as a percentage of sales, ~~decreased~~increased ~~170~~40 basis points (“bps”) for the three months ended ~~June~~September 2827, 2025, as compared to the prior year comparable period. ~~Technician~~Occupancy ~~labor~~costs decreased, as a percentage of sales, as we gained leverage on these largely fixed costs ~~increased~~with higher comparable store sales and benefit from store closures. Material costs decreased, as a percentage of sales, due primarily to ~~wage~~better ~~inflation~~material margin on our service categories. ~~Material~~Partially ~~costs~~offsetting ~~increased~~this was an increase in technician labor costs, as a percentage of sales, due primarily to ~~mix~~wage ~~within~~inflation. ~~tires~~Gross ~~and~~profit, ~~increased~~as ~~levels~~a percentage of ~~self-funded~~sales, ~~promotions.~~decreased ~~Partially~~70 ~~offsetting~~basis ~~these~~points ~~increases~~for ~~was~~the asix months ended September 27, 2025, as compared to the prior year comparable period. The decrease in ~~occupancy~~gross ~~costs~~profit, as wea ~~gained~~percentage ~~leverage~~of onsales, ~~these~~was ~~largely~~primarily ~~fixed~~due to increased technician labor, due primarily to wage inflation, and increased material costs, ~~with~~due ~~higher~~primarily ~~comparable~~to ~~store~~mix ~~sales~~within tires, partially offset by a decrease in occupancy costs.

Gross Profit as a Percentage of Sales Change	Three Months Ended			Six Months Ended
		June 28, 2025
		September 27, 2025			September 27, 2025
Gross profit change		~~(170)~~40	bps		(70)	bps
Primary drivers of change in gross profit as a percentage of sales
Technician labor costs		(170)	bps
Occupancy costs		70	bps		80	bps
Material costs		~~(120)~~50	bps		(30)	bps
Occupancy costs		120	bps
Technician labor costs		(80)	bps		(120)	bps

OSG&A Expenses

OSG&A Expenses	Three Months Ended						Six Months Ended
(thousands)	~~June~~September 2827, 2025			~~June~~September 2928, 2024			September 27, 2025			September 28, 2024
OSG&A Expenses	$	~~112~~90,~~981~~364		$	9593,~~939~~175		$	203,345		$	189,114
Percentage of sales		3731.53	%		3230.79	%		34.5	%		31.8	%
Dollar change compared to prior year	$	17(2,~~042~~811)					$	14,231
Percentage change compared to prior year		17(3.80)	%					7.5	%

The ~~increase~~decrease of $172.08 million in operating, selling, general and administrative (“OSG&A”) expenses for the three months ended ~~June~~September 2827, 2025, from the comparable prior year period is primarily due to a decrease in store ~~closure~~closing costs net of gains on the sales of closed stores, lease assignments and early lease terminations and a decrease in costs from closed stores, partially offset by consulting costs related to ~~the~~our Operational Improvement Plan. The following table shows the impact of these costs on the change in OSG&A expenses for the three months and six months ended ~~June~~September 2827, 2025, as compared to the same periods ended ~~June~~September 2928, 2024.

Monro, Inc. Q1Q2 2026 Form 10-Q 1718

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS

OSG&A Expenses Change	Three Months Ended			Six Months Ended
(thousands)		~~June~~September 2827, 2025			September 27, 2025
OSG&A expenses change		$	17(2,~~042~~811)		$	14,231
Drivers of change in OSG&A expenses
Increase in store closing costs, net		$	14,635
(Decrease) increase in store closing costs, net of gains on sales of closed stores, lease assignments and early lease terminations		$	(8,092)		$	6,543
Increase in consulting costs related to the Operational Improvement Plan		$	4,722
Decrease from closed stores		$	(7,356)		$	(10,874)
Increase from comparable stores		$	1,873
Decrease in store impairment charges		$	(1,031)		$	(1,551)
Decrease from transition costs related to back-office optimization		$	(26)		$	(52)
Decrease from corporate headquarters relocation costs		$	(125)
Increase from comparable stores		$	2,666		$	4,540
Decrease in store impairment charges		$	(520)
Increase from gain on sale of corporate headquarters, net of closing and relocation costs		$	2,764		$	2,639
Decrease from closed stores		$	(3,517)
Increase in consulting costs related to Operation Improvement Plan		$	8,264		$	12,986

Other Performance Factors

Net Interest Expense

Net interest expense of $4.84 million for the three months ended ~~June~~September 2827, 2025 decreased $0.48 million as compared to the prior year period, and decreased as a percentage of sales from 1.87 percent to 1.65 percent. Weighted average debt outstanding for the three months ended ~~June~~September 2827, 2025 decreased by approximately $6248.09 million as compared to the three months ended ~~June~~September 2928, 2024. This decrease is primarily related to lower debt outstanding under the Credit Facility as well as lower finance lease debt related to our stores. The weighted average interest rate ~~increased~~decreased approximately 3020 basis points as compared to the same period of the prior year.

Net interest expense of $9.1 million for the six months ended September 27, 2025 decreased $1.1 million compared to the prior year period, and decreased as a percentage of sales from 1.7 percent to 1.5 percent. Weighted average debt outstanding for the six months ended September 27, 2025 decreased by approximately $55.0 million as compared to the prior year period. The weighted average interest rate for the six months ended September 27, 2025 remained relatively flat as compared to the prior year period.

Provision for Income Taxes

Our effective income tax rate for the three months and six months ended ~~June~~September 2827, 2025 was 2432.89 percent and (5.4) percent, respectively, compared with 2830.59 percent and 29.7 percent in the comparable prior-year period. The year-over-year difference in effective tax rate is primarily related to the discrete tax expenses impact related to share-based awards and other adjustments, none of which are individually significant.

On July 4, 2025, the “H.R.1: One Big Beautiful Bill Act” (OBBBA) became law. The OBBBA contains a broad range of tax reform provisions with various effective dates affecting business taxpayers. The legislation did not have a material impact on our effective income tax rate for the three and six months ended September 27, 2025, and we do not expect it to have a material impact on our consolidated financial statements for the year ending March 28, 2026.

Non-GAAP Financial Measures

In addition to reporting operating ~~(loss)~~ income, net income (loss) ~~income~~ and diluted earnings (loss) ~~earnings~~ per common share, which are GAAP measures, this Form 10-Q includes adjusted operating income, adjusted net income and adjusted diluted EPS, which are non-GAAP financial measures. We have included reconciliations to adjusted operating income, adjusted net income and adjusted diluted EPS from our most directly comparable GAAP measures, operating ~~(loss)~~ income, net income (loss) ~~income~~, and diluted earnings (loss) ~~earnings~~ per common share, below. Management views these non-GAAP financial measures as indicators to better assess comparability between periods because management believes these non-GAAP financial measures reflect our core business operations while excluding certain items that are not part of our core operations, such as ~~store closing costs,~~ consulting costs related to the Company’s Operational Improvement Plan, store closing costs net of gains on sales of closed stores, lease assignments and early lease terminations, transition costs related to back-office optimization, store impairment charges, ~~corporate~~write-off ~~headquarters~~of ~~relocation~~debt issuance costs, and ~~write-off~~gain on sale of ~~debt~~corporate ~~issuance~~headquarters net of closing and relocation costs.

These non-GAAP financial measures are not intended to represent, and should not be considered more meaningful than, or as an alternative to, their most directly comparable GAAP measures. These non-GAAP financial measures may be different from similarly titled non-GAAP financial measures used by other companies.

~~Adjusted~~Monro, ~~operating~~Inc. ~~income~~Q2 is2026 ~~summarized~~Form as10-Q ~~follows:~~19

Reconciliation of Adjusted Operating Income	Three Months Ended
(thousands)	June 28, 2025		June 29, 2024
Operating (loss) income	$	(6,075)	$	13,246
Store closing costs, net (a)		14,816		181
Consulting costs related to the Operational Improvement Plan		4,722		—
Transition costs related to back-office optimization		571		597
Store impairment charges		—		520
Corporate headquarters relocation costs		—		125
Adjusted operating income	$	14,034	$	14,669

(a) Amount for the three months ended June 28, 2025 includes closing costs and asset write-offs related to the closure of 145 underperforming stores, in accordance with the Store Closure Plan, net of related gains on the sale of owned locations and early lease terminations.

Monro, Inc. Q1 2026 Form 10-Q 18

Table of Contents

MANAGEMENT’S DISCUSSION AND ANALYSIS

Adjusted operating income is summarized as follows:



Reconciliation of Adjusted Operating Income	Three Months Ended				Six Months Ended
(thousands)	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Operating income	$	12,750	$	13,202	$	6,675	$	26,449
Consulting costs related to the Operational Improvement Plan		8,264		—		12,986		—
Transition costs related to back-office optimization		527		553		1,098		1,150
Store closing costs, net ^(a)		(7,561)		531		7,255		712
Store impairment charges		—		1,031		—		1,551
Net gain on sale of corporate headquarters ^(b)		—		(2,764)		—		(2,639)
Adjusted operating income	$	13,980	$	12,553	$	28,014	$	27,223

(a) Amounts include the closing costs and asset write-offs related to the closure of 145 underperforming stores, in accordance with the Store Closure Plan, net of gains on the sale of closed stores, lease assignments and early lease terminations.

(b) Amounts include the gain on sale of the corporate headquarters building net of associated closing and relocation costs.

Adjusted net income is summarized as follows:

Reconciliation of Adjusted Net Income	Three Months Ended				Six Months Ended
(thousands)	~~June~~September 2827, 2025		~~June~~September 2928, 2024		September 27, 2025		September 28, 2024
Net (loss) income	$	(8,050)	$	5,863
Net income (loss)	$	5,665	$	5,647	$	(2,385)	$	11,510
Store closing costs, net (a)		14,816		181
Consulting costs related to the Operational Improvement Plan		8,264		—		12,986		—
Consulting costs related to the Operational Improvement Plan		4,722		—
Transition costs related to back-office optimization		527		553		1,098		1,150
Transition costs related to back-office optimization		571		597
Store closing costs, net (a)		(7,561)		531		7,255		712
Write-off of debt issuance costs		263		—
Store impairment charges		—		1,031		—		1,551
Store impairment charges		—		520
Write-off of debt issuance costs		—		—		263		—
Corporate headquarters relocation costs		—		125
Net gain on sale of corporate headquarters (b)		—		(2,764)		—		(2,639)
Provision for income taxes on pre-tax adjustments		(~~5,297~~320)		~~(387)~~177		(5,617)		(210)
Adjusted net income	$	76,~~025~~575	$	65,~~899~~175	$	13,600	$	12,074

(a) ~~Amount~~Amounts ~~for~~include the ~~three months ended June 28, 2025 includes~~ closing costs and asset write-offs related to the closure of 145 underperforming stores, in accordance with the Store Closure Plan, net of ~~related~~ gains on the sale of ~~owned~~closed ~~locations~~stores, lease assignments and early lease terminations.

(b) Amounts include the gain on sale of the corporate headquarters building net of associated closing and relocation costs.

Adjusted diluted EPS is summarized as follows:

Reconciliation of Adjusted Diluted EPS	Three Months Ended				Six Months Ended
	June 28, 2025		June 29, 2024
	September 27, 2025		September 28, 2024		September 27, 2025		September 28, 2024
Diluted (loss) earnings per share	$	(0.28)	$	0.19
Diluted EPS	$	0.18	$	0.18	$	(0.10)	$	0.37
Store closing costs, net (a)		0.37		0.00
Consulting costs related to the Operational Improvement Plan		0.19		—		0.32		—
Consulting costs related to the Operational Improvement Plan		0.12		—
Transition costs related to back-office optimization		0.01		0.01		0.03		0.03
Transition costs related to back-office optimization		0.01		0.01
Store closing costs, net (a)		(0.18)		0.01		0.18		0.02
Write-off of debt issuance costs		0.01		—
Store impairment charges		—		0.02		—		0.04
Store impairment charges		—		0.01
Write-off of debt issuance costs		—		—		0.01		—
Corporate headquarters relocation costs (a)		—		0.00
Net gain on sale of corporate headquarters (b)		—		(0.06)		—		(0.06)
Adjusted diluted EPS	$	0.2221	$	0.2217	$	0.43	$	0.39

(a) Amounts, ininclude the ~~periods~~closing ~~presented,~~costs ~~may~~and beasset ~~too~~write-offs ~~minor~~related into ~~amount,~~the ~~net~~closure of ~~the~~145 ~~impact~~underperforming ~~from~~stores, ~~income~~in ~~taxes,~~accordance towith ~~have~~the anStore ~~impact~~Closure Plan, net of gains on the ~~calculation~~sale of ~~adjusted~~closed ~~diluted~~stores, ~~EPS~~lease assignments and early lease terminations.

(b) Amounts include the gain on sale of the corporate headquarters building net of associated closing and relocation costs.

Note: The calculation of the impact of non-GAAP adjustments on diluted EPS is performed on each line independently. The table may not add down +/- $0.01 due to rounding.

The other adjustments to diluted EPS reflect estimated annual effective income tax rates of 26.0 percent and 27.23 percent for the three months ended ~~June~~September 27, 2025 and September 28, 2024, respectively and 26.0 percent and 27.1 percent for the six months ended September 27, 2025 and ~~June~~September 2928, 2024, respectively. This represents the tax effect of non-GAAP adjustments calculated at an estimated blended statutory tax rate. See adjustments from the Reconciliation of Adjusted Net Income table above for pre-tax amounts.

Monro, Inc. Q2 2026 Form 10-Q

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MANAGEMENT’S DISCUSSION AND ANALYSIS

Analysis of Financial Condition

Liquidity and Capital Resources

Capital Allocation

We expect to continue to generate positive operating cash flow as we have done in each of the last three fiscal years. We believe the cash we generate from our operations will allow us to continue to support business operations, pay down debt, and return cash to our shareholders through our dividend program.

In addition, because we believe a large portion of our future expenditures will be to fund our growth, through acquisition of retail stores and/or opening greenfield stores, we continually evaluate our cash needs and may decide it is best to fund the growth of our business through borrowings on our Credit Facility. Conversely, we may also periodically determine that it is in our best interests to voluntarily repay certain indebtedness early.

Future Cash Requirements

We currently expect our capital expenditures to support our projects, including upgrading our facilities and systems, to be $25 million to $35 million in the aggregate in fiscal 2026. Additionally, we have contractual finance lease and operating lease commitments with landlords through October 2040 for $~~453~~442.03 million in lease payments, of which $9695.14 million is due within one year. For details regarding these lease commitments, see Note 9 to our consolidated financial statements.

As of ~~June~~September 2827, 2025 we had $7160.50 million outstanding under the Credit Facility, none of which is due in the succeeding 12 months. For details regarding our indebtedness that is due, see Note 8 to our consolidated financial statements.

Monro, Inc. Q1 2026 Form 10-Q 19

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MANAGEMENT’S DISCUSSION AND ANALYSIS

Dividends

We declared and paid dividends of $0.28 per share totaling $8.7 million for each of the three months ended ~~June~~September 27, 2025 and September 28, 2024 and $0.56 per share totaling $17.5 million and $17.4 million for each of the six months ended September 27, 2025 and ~~June~~September 2928, 2024, respectively.

Working Capital Management

As of ~~June~~September 2827, 2025, we had a working capital deficit of $~~251~~268.24 million, an increase of $421.35 million from a deficit of $246.9 million as of March 29, 2025. The overall working capital deficit is a result of extended payment terms negotiated with certain suppliers. As part of our working capital management, we facilitate a voluntary supply chain finance program to provide our suppliers with the opportunity to sell receivables due from Monro to a participating financial institution subject to the independent discretion of both the supplier and participating financial institution. For details regarding our supply chain finance program, see Note 10 to our consolidated financial statements.

Sources and Conditions of Liquidity

Our sources to fund our material cash requirements are predominantly cash from operations, availability under our Credit Facility, and cash and equivalents on hand.

As of ~~June~~September 2827, 2025, we had $710.85 million of cash and equivalents. In addition, we had $~~398~~409.49 million available under the Credit Facility as of ~~June~~September 2827, 2025, subject to compliance with our covenants.

We believe that our current sources of funds will provide us with adequate liquidity during the 12-month period following ~~June~~September 2827, 2025, as well as in the long-term.

~~Summary~~Monro, ofInc. ~~Cash~~Q2 ~~Flows~~2026 Form 10-Q 21

The following table presents a summary of our cash flows from operating, investing, and financing activities.

Summary of Cash Flows	Three Months Ended
(thousands)	June 28, 2025		June 29, 2024
Cash (used for) provided by operating activities	$	(1,939)	$	25,638
Cash used for investing activities		(2,366)		(4,232)
Cash used for financing activities		(8,656)		(9,302)
(Decrease) increase in cash and equivalents		(12,961)		12,104
Cash and equivalents at beginning of period		20,762		6,561
Cash and equivalents at end of period	$	7,801	$	18,665

Cash (used for) provided by operating activities

For the three months ended June 28, 2025, cash used for operating activities was $1.9 million, which consisted of a net loss of $8.1 million and a change in operating assets and liabilities of $9.2 million, partially offset by non-cash adjustments of $15.4 million. The change in operating assets and liabilities was driven by timing of payments that caused accounts payable to be a use of cash of $21.3 million. This was partially offset by our inventory being a source of cash of $7.4 million and accrued expenses being a source of cash of $4.3 million. The non-cash charges were driven by $15.6 million of depreciation and amortization, $1.5 million in loss on disposal of assets and $1.0 million in share-based compensation expense, offset by $2.7 million in deferred income tax expense.

For the three months ended June 29, 2024, cash provided by operating activities was $25.6 million, which consisted of net income of $5.9 million, increased by non-cash adjustments of $20.9 million, offset by a net change in operating assets and liabilities of $1.1 million. The non-cash charges were largely driven by $17.8 million of depreciation and amortization, as well as $1.6 million in deferred income tax expense. The change in operating assets and liabilities was driven by timing of payments, primarily due to accrued expenses and other current assets being a use of cash of $21.2 million, as well as our inventory balance being a use of cash of $8.1 million. These uses of cash were partially offset by our supply chain finance program being a source of cash as we improved our cash flow by $28.3 million.

Monro, Inc. Q1 2026 Form 10-Q 20

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MANAGEMENT’S DISCUSSION AND ANALYSIS

~~Cash~~Summary ~~used~~of ~~for~~Cash ~~investing activities~~Flows

~~For~~The ~~the~~following ~~three~~table ~~months~~presents ~~ended~~a ~~June~~summary ~~28,~~of ~~2025,~~our cash ~~used~~flows ~~for~~from ~~investing activities was $2.4 million. This was primarily due to cash used for capital expenditures~~operating, ~~including property and equipment~~investing, ~~of $7.4 million, partially offset by subsequent proceeds from the sale of our wholesale tire locations~~ and ~~distribution~~financing ~~assets and proceeds from the disposal of property and equipment of $3~~activities.5 ~~million and $1.6 million, respectively.~~

For the three months ended June 29, 2024, cash used for investing activities was $4.2 million. This was primarily due to cash used for capital expenditures, including property and equipment, of $8.9 million, partially offset by subsequent proceeds from the sale of our wholesale tire locations and distribution assets and proceeds from the disposal of property and equipment of $4.4 million and $0.3 million, respectively.


Summary of Cash Flows	Six Months Ended
(thousands)	September 27, 2025		September 28, 2024
Cash provided by operating activities	$	30,396	$	88,197
Cash (used for) provided by investing activities		(2,411)		4,638
Cash used for financing activities		(38,279)		(78,537)
(Decrease) increase in cash and equivalents		(10,294)		14,298
Cash and equivalents at beginning of period		20,762		6,561
Cash and equivalents at end of period	$	10,468	$	20,859

Cash provided by operating activities

For the six months ended September 27, 2025, cash provided by operating activities was $30.4 million, which consisted of a net loss of $2.4 million, offset by non-cash adjustments of $27.1 million, and a change in operating assets and liabilities of $5.7 million. The non-cash charges were largely driven by $30.9 million of depreciation and amortization, as well as $1.2 million in share-based compensation expense, partially offset by a $5.1 million net gain on disposal of assets. The change in operating assets and liabilities was primarily driven by our inventory balance providing a source of cash of $18.0 million. This was partially offset by timing of payments that caused accounts payable and accrued expenses to be a use of cash of $13.4 million.

For the six months ended September 28, 2024, cash provided by operating activities was $88.2 million, which consisted of net income of $11.5 million, increased by non-cash adjustments of $39.0 million and net change in operating assets and liabilities of $37.7 million. The non-cash charges were largely driven by $35.2 million of depreciation and amortization, as well as $3.4 million in deferred income tax expense. The change in operating assets and liabilities was primarily due to our supply chain finance program being a source of cash as we improved our cash flow by $67.5 million. This was partially offset by accrued expenses and other current assets being a use of cash of $17.0 million, as well as our inventory balance being a use of cash of $7.7 million.

Cash (used for) provided by investing activities

For the six months ended September 27, 2025, cash used for investing activities was $2.4 million. This was primarily due to cash used for capital expenditures, including property and equipment, of $13.1 million, partially offset by subsequent proceeds from the sale of our wholesale tire locations and distribution assets and proceeds from the disposal of property and equipment of $3.5 million and $7.2 million, respectively.

For the six months ended September 28, 2024, cash provided by investing activities was $4.6 million. This was primarily due to cash provided by payments from the disposal of property and equipment, including the proceeds related to the sale of our corporate headquarters, for $9.9 million, and cash provided by the earnout payment from the sale of our wholesale tire locations and distribution assets of $8.5 million. This was partially offset by cash used for capital expenditures, including property and equipment, of $13.8 million.

Cash used for financing activities

For the ~~three~~six months ended ~~June~~September 2827, 2025, cash used for financing activities was $838.73 million. This was primarily due to payment of finance lease principal and dividends of $919.81 million and $817.75 million, respectively, ~~as well as~~ deferred financing costs of $0.5 million., ~~These~~and ~~were~~payments ~~offset by amounts borrowed~~ on our Credit Facility, net of ~~payments~~amounts ~~made~~borrowed during the period, of $101.32 million.

For the ~~three~~six months ended ~~June~~September 2928, 2024, cash used for financing activities was $978.35 million., ~~This~~which was primarily due to ~~payment~~payments ofon ~~finance~~our ~~lease~~Credit ~~principal~~Facility, ~~and~~net ~~dividends~~ of ~~$9.9~~amounts ~~million~~borrowed ~~and~~during the period, of $840.70 million, ~~respectively,~~ as well as ~~deferred~~payment ~~financing costs~~ of ~~$0.7~~finance ~~million.~~lease ~~These~~principal ~~were~~and ~~offset~~dividends ~~by amounts borrowed on our Credit Facility, net~~ of ~~payments~~$20.0 ~~made~~million ~~during~~and ~~the period, of~~ $1017.04 million, respectively.

Critical Accounting Estimates

The consolidated financial statements are prepared in accordance with GAAP. The preparation of the consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues, costs and expenses, and related disclosures. We base our estimates on historical experience, as appropriate, and on various other assumptions that we believe to be reasonable under the circumstances. Changes in the accounting estimates are reasonably likely to occur from period to period. Accordingly, actual results could differ significantly from the estimates made by management. We evaluate our estimates and assumptions on an ongoing basis. To the extent that there are material differences between these estimates and actual results, our future financial statement presentation, financial condition, results of operations, and cash flows may be affected.

Monro, Inc. Q2 2026 Form 10-Q

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MANAGEMENT’S DISCUSSION AND ANALYSIS

For a description of our critical accounting estimates, refer to Part II, Item 7., “Management's Discussion and Analysis of Financial Condition and Results of Operations” of our Form 10-K for the fiscal year ended March 29, 2025. There have been no material changes to our critical accounting estimates since our Form 10-K for the year ended March 29, 2025.

Recent Accounting Pronouncements

See “Recent Accounting Pronouncements” in Note 1 to our consolidated financial statements for a discussion of the impact of recently issued accounting standards on our consolidated financial statements as of ~~June~~September 2827, 2025 and the expected impact on the consolidated financial statements for future periods.

Cautionary Note Regarding Forward-Looking Statements

This Quarterly Report on Form 10-Q contains “forward-looking statements” as that term is used in the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by the fact that they address future events, developments, and results and do not relate strictly to historical facts. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements include, without limitation, statements preceded by, followed by, or including words such as “anticipate,” “believe,” “can,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “should,” “strategy,” “will,” “would” and variations thereof and similar expressions. Forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed. For example, our forward-looking statements include, without limitation, statements regarding:

•the impact of competitive services and pricing;

•the effect of economic conditions and geopolitical uncertainty, seasonality, and the impact of weather conditions and natural disasters on customer demand;

•advances in automotive technologies including adoption of electronic vehicle technology;

•our dependence on third-party vendors for certain inventory;

Monro, Inc. Q1 2026 Form 10-Q 21

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MANAGEMENT’S DISCUSSION AND ANALYSIS

•the risks associated with vendor relationships and international trade, particularly imported goods such as those sourced from China and other countries targeted with import tariffs;

•the impact of changes in U.S. trade relations and ongoing trade disputes between the United States, China, and other countries and other potential impediments to imports;

•our ability to generate sufficient cash flows from operations and service our debt obligations, including our expected annual interest expense, and to comply with the debt covenants of our Credit Facility;

•our cash needs, including our ability to fund our future capital expenditures and working capital requirements;

•our anticipated sales, comparable store sales, gross profit margin, costs of goods sold (including product mix), OSG&A expenses and other fixed costs, and our ability to leverage those costs;

•management’s estimates and expectations as they relate to income tax liabilities, deferred income taxes, and uncertain tax positions;

•management’s estimates associated with our critical accounting policies, including insurance liabilities, income taxes, and valuations for our goodwill and long-lived assets impairment analyses;

•the impact of industry regulation, including changes in environmental, consumer protection, and labor laws;

•potential outcomes related to pending or future litigation matters;

•business interruptions;

•risks relating to disruption or unauthorized access to our computer systems;

•our ability to protect customer and employee personal data;

•risks relating to acquisitions and the integration of acquired businesses with ours;

•our growth plans, including our plans to add, renovate, re-brand, expand, remodel, relocate, or close stores and any related costs or charges, our leasing strategy for future expansion, and our ability to renew leases at existing store locations;

•the impact of costs related to planned store closings or potential impairment of goodwill, other intangible assets, and long-lived assets;

Monro, Inc. Q2 2026 Form 10-Q

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MANAGEMENT’S DISCUSSION AND ANALYSIS

•expected dividend payments;

•our ability to protect our brands and our reputation;

•our ability to attract, motivate, and retain skilled field personnel and our key executives; and

•the potential impacts of climate change on our business.

Any of these factors, as well as such other factors as discussed in Part I, Item 1A., “Risk Factors” of our Form 10-K for the fiscal year ended March 29, 2025 as well as in our periodic filings with the SEC, could cause our actual results to differ materially from our anticipated results. The information provided in this report is based upon the facts and circumstances known as of the date of this report, and any forward-looking statements made by us in this report speak only as of the date on which they are made. Except as required by law, we undertake no obligation to update these forward-looking statements after the date of this Form 10-Q to reflect events or circumstances after such date, or to reflect the occurrence of unanticipated events.

Monro, Inc. Q1Q2 2026 Form 10-Q 2224

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DISCLOSURES ABOUT MARKET RISK & CONTROLS AND PROCEDURES

Item 3. Quantitative and Qualitative Disclosures about Market Risk

We are exposed to market risk from potential changes in interest rates. As of ~~June~~September 2827, 2025, excluding finance leases and financing obligations, we had no debt financing at fixed interest rates, for which the fair value would be affected by changes in market interest rates. Our cash flow exposure on floating rate debt would result in annual interest expense fluctuations of approximately $0.76 million based upon our debt position at ~~June~~September 2827, 2025 and ~~approximately $0.6 million based upon our debt position~~ at March 29, 2025, given a change in SOFR of 100 basis points.

Debt financing had a carrying amount that approximates a fair value of $7160.50 million as of ~~June~~September 2827, 2025, as compared to a carrying amount and a fair value of $61.3 million as of March 29, 2025.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures that are designed to ensure that information required to be disclosed in reports that we file or submit to the SEC pursuant to the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms, and that such information is accumulated and communicated to our management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

In conjunction with the close of each fiscal quarter and under the supervision of our Chief Executive Officer (our principal executive officer) and Chief Financial Officer (our principal financial officer), we conduct an update, a review and an evaluation of the effectiveness of our disclosure controls and procedures. It is the conclusion of our Chief Executive Officer and Chief Financial Officer, based upon an evaluation completed as of the end of the most recent fiscal quarter reported on herein, that our disclosure controls and procedures were effective.

Changes in Internal Controls Over Financial Reporting

There were no changes in our internal control over financial reporting during the quarter ended ~~June~~September 2827, 2025 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

Monro, Inc. Q1Q2 2026 Form 10-Q 2325

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SUPPLEMENTAL INFORMATION

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

From time to time we are a party to or otherwise involved in legal proceedings arising out of the normal course of business. Legal matters are subject to inherent uncertainties and there exists the possibility that the ultimate resolution of one or more of these matters could have a material adverse impact on the Company, its financial condition and results of operations.

Monro, Inc. Q1Q2 2026 Form 10-Q 2426

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EXHIBITS

Item 6. Exhibits

Exhibit Index 10.~~22e~~02d – First Amendment ~~No. 5~~ to the Amended and Restated ~~Credit~~2007 ~~Agreement~~Stock Incentive Plan (August 2025 Form S-8, ~~dated~~Exhibit asNo. of4.12)* ~~May~~10.68 23- Letter agreement regarding severance benefits, effective August 12, 2025. between the Company and Nicholas Hawryschuk (August 2025 Form 108-K, Exhibit No. 10.~~22e~~68)** 10.~~79a~~79b – Amendment No. 1 to Addendum 1 under the Agreement by and between the Company and AlixPartners, LLP, effective as of ~~May~~July 3031, 2025.†** 31.1 – Certification of Peter D. Fitzsimmons pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 31.2 – Certification of Brian J. D’Ambrosia pursuant to Section 302 of the Sarbanes – Oxley Act of 2002 32.1 – Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes – Oxley Act of 2002 101.INS – XBRL Instance Document 101.LAB – XBRL Taxonomy Extension Label Linkbase 101.PRE – XBRL Taxonomy Extension Presentation Linkbase 101.SCH – XBRL Taxonomy Extension Schema Linkbase 101.DEF – XBRL Taxonomy Extension Definition Linkbase 101.CAL – XBRL Taxonomy Extension Calculation Linkbase 104 – Cover Page Interactive Data File (formatted as inline XBRL and contained in Exhibit 101) ~~†Certain~~*Management ~~portions~~contract ofor ~~this~~compensatory ~~exhibit~~plan have been omitted (indicated by asterisks) pursuant to Item 601(b) of Regulation S-K of the Securities Act of 1933, as amended, because such omitted information is (i) not material and (ii) the type of information that the Company treats as private or ~~confidential~~arrangement.

** Schedules and similar attachments have been omitted pursuant to Item 601(a)(5) of Regulation S-K of the Securities Act of 1933Monro, ~~as amended~~Inc. ~~The~~Q2 ~~Company~~2026 ~~will~~Form ~~furnish~~10-Q ~~a copy of any omitted schedule or similar attachment to the Securities and Exchange Commission upon request.~~27

Monro, Inc. Q1 2026 Form 10-Q 25

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	MONRO, INC.
DATE: July 30, 2025	By:	/s/ Peter D. Fitzsimmons
DATE: October 29, 2025	By:	/s/ Peter D. Fitzsimmons
		Peter D. Fitzsimmons
		President and Chief Executive Officer ‎(Principal Executive Officer)
DATE: July 30, 2025	By:	/s/ Brian J. D’Ambrosia
DATE: October 29, 2025	By:	/s/ Brian J. D’Ambrosia
		Brian J. D’Ambrosia
		Executive Vice President – Finance, Chief Financial Officer and
		Executive Vice President – Finance, Chief Financial Officer and Treasurer
		Treasurer(Principal Financial Officer and Principal Accounting Officer)
		(Principal Financial Officer and Principal Accounting Officer)

Monro, Inc. Q1Q2 2026 Form 10-Q 2628

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