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Think of Monro as a national auto service chain, similar to a combination of Midas and Discount Tire.

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• Replacement Tires: Sales of new tires for a variety of passenger cars, light trucks, and vans.
• Tire Services: Installation, rotation, balancing, and repair services for vehicle tires.
• Brake Services: Comprehensive repair, replacement, and maintenance for vehicle brake systems.
• Muffler and Exhaust System Services: Repair and replacement of mufflers and other exhaust system components.
• Steering, Suspension, and Wheel Alignment Services: Diagnosis and repair of steering, suspension systems, and precise wheel alignment.
• Routine Vehicle Maintenance: Essential services including oil changes, lubrication, fluid checks, and scheduled maintenance.
• Vehicle Inspections and Emissions Testing: Performance of motor vehicle safety inspections and auto emissions tests.
• Heating and Cooling System Services: Repair, maintenance, and inspection for automotive air conditioning and heating systems.
• Fuel and Ignition System Repair: Services addressing issues with fuel delivery and ignition components.
• Electrical System Repair: Replacement and repair of automotive electrical components such as batteries, alternators, and starters.
• Transmission Services: Maintenance and fluid services for vehicle transmissions.

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Monro, Inc. primarily sells its automotive repair, maintenance, and tire services directly to individual consumers rather than other businesses. The company serves the following categories of customers:

1. Everyday Vehicle Owners/Motorists: Individuals who own passenger cars, light trucks, and vans and require a broad range of automotive services, from routine maintenance (e.g., oil changes, fluid checks, safety inspections) to general repairs (e.g., brakes, mufflers, exhaust systems, steering, suspension), and tire replacements.
2. Drivers Seeking Specialized Undercar Services and Tires: Customers who specifically need new tires or tire-related services (e.g., balancing, rotation, alignment), as well as targeted repairs for critical undercar components like brake systems, exhaust systems, and suspension components.
3. Convenience-Oriented and Value-Conscious Consumers: Individuals who choose Monro's services due to the widespread availability and convenience of its numerous service centers across 32 states, and/or for competitive pricing on tires and auto services, as suggested by brand names like "Tire Warehouse Tires for Less" and "Tire Barn Warehouse."

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Peter D. Fitzsimmons, President and Chief Executive Officer

Peter Fitzsimmons was appointed as Monro's President and Chief Executive Officer in March 2025 and entered into a formal employment agreement directly with the company in December 2025. He brings over 30 years of senior executive and advisory experience, including with a number of companies in retail and auto services. He was previously a Partner and Managing Director of AlixPartners, a global consulting firm, where he advised companies and served as an advisor, CEO, and CFO to clients undertaking significant transformation, turnaround, and operational improvement efforts. His notable industry experience includes serving as CEO of a large automotive collision repair business, where he drove an over 25% sales improvement in 2022, and as CFO of an auto parts distributor. Fitzsimmons rejoined AlixPartners in 2020 after spending seven years with Tower Three Partners, an operationally-oriented private equity firm, and has also worked in private equity as an investor.

Brian J. D'Ambrosia, Executive Vice President and Chief Financial Officer

Brian J. D'Ambrosia was promoted to Executive Vice President in August 2018. In January 2017, he was promoted to Senior Vice President – Finance, Chief Financial Officer and Treasurer, and was appointed Assistant Secretary in May 2017. Prior to that, he was Vice President – Finance from May 2016 to December 2016, and Vice President – Controller from January 2013 to May 2016, being named Chief Accounting Officer in December 2015. Before joining Monro in 2013, Mr. D'Ambrosia was Regional Controller – Americas Process Solutions Group at Robbins & Myers, Inc., a publicly held manufacturer, from August 2010 to January 2013. He also held various accounting and finance positions with Birds Eye Foods, Inc. from August 2005 to July 2010. From September 2003 to August 2005, Mr. D'Ambrosia served as Chief Financial Officer at Rochester Sports Group, and was an Audit Manager with Deloitte & Touche, LLP, from 1997 to 2003. He is a certified public accountant.

Maureen E. Mulholland, Executive Vice President and Chief Legal Officer and Secretary

Maureen E. Mulholland was named Executive Vice President – Chief Legal Officer and Secretary in October 2020, having served as Senior Vice President – General Counsel and Secretary since August 2017. Ms. Mulholland joined Monro as General Counsel in October 2003 and was appointed Vice President in May 2012. Prior to joining the company, she worked as an associate attorney at Rochester, New York-based law firms Underberg & Kessler LLP and Harris Beach, PLLC.

Nicholas Hawryschuk, Senior Vice President – Operations

Nicholas Hawryschuk leads all aspects of Monro's retail and commercial operations, and is responsible for developing and executing the company's strategy. He joined Monro as Vice President - Finance in 2020 and was promoted to Vice President - Finance and Operations Support in 2022. His role expanded in 2024 when he was appointed Vice President - Finance and Operations, overseeing the Finance and Loss Prevention organizations and leading the Operations Support Team.

Cindy L. Donovan, Senior Vice President – Chief Information Officer

Cindy Donovan was promoted to Senior Vice President – Chief Information Officer in November 2022 from her role as Senior Vice President – Information Technology. She joined Monro in September 2019 as the Director of Project Management and Data Architecture, and was subsequently promoted to Vice President – Information Technology in January 2020, and then Senior Vice President – Information Technology in December 2020.

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The key risks to Monro's business primarily stem from fundamental shifts in the automotive industry and persistent operational challenges.

The most significant risk is the **Accelerating Adoption of Electric Vehicles (EVs) and Evolving Automotive Technology**. Monro's business heavily relies on services related to internal combustion engine (ICE) vehicles, such as oil changes, exhaust systems, traditional brake wear, and various engine-related repairs. Electric vehicles have fewer moving parts, require no oil changes, have different braking systems (often utilizing regenerative braking which reduces wear on physical brakes), and lack complex exhaust systems. As EV market penetration increases, the demand for many of Monro's core services is expected to decline over the long term, fundamentally altering the addressable market for its traditional offerings.

A second significant risk is the **Persistent Shortage of Skilled Automotive Technicians**. The automotive service industry, including Monro, faces a chronic and worsening scarcity of qualified technicians. This shortage can lead to increased labor costs, difficulties in staffing service centers, potential impacts on service quality and customer satisfaction, and constraints on the company's ability to grow and expand operations.

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• The total U.S. automotive aftermarket, including light, medium, and heavy-duty vehicles, reached approximately $413.7 billion in 2024, with projections to grow to $435 billion in 2025 for the light-duty aftermarket and $664.3 billion by 2028 for the entire U.S. aftermarket. Another source estimated the U.S. automotive aftermarket size at $260 billion in 2024, projected to reach $348 billion in 2032.
• The U.S. automotive repair and maintenance service market was valued at $183.4 billion in 2023 and is estimated to grow to around $473.9 billion by 2034.
• The U.S. replacement tire market was valued at approximately $48.87 billion in 2024 and is estimated to reach $56.27 billion in 2025, with projections of up to $73.90 billion by 2032.
• The U.S. oil change service market was estimated at $8.11 billion in 2024. Other sources reported the market size for oil change services in the U.S. at $12.9 billion in 2024 and $8.2 billion in 2024, projected to reach $14.8 billion by 2034.
• The U.S. automotive brakes market was worth over $3.1 billion in 2024. Projections indicate it could reach $8.22 billion by 2026.
• The U.S. automotive exhaust systems market generated revenues of $5.63 billion in 2023 and is projected to reach $8.51 billion by 2030.
• The U.S. automotive suspension system market was valued at $22.10 billion in 2025 and is expected to reach $24.43 billion in 2026. Another estimate projected the U.S. market to reach $8.02 billion by 2026.

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• Strategic Acquisitions and Geographic Expansion: Monro plans to pursue merger and acquisition (M&A) opportunities within the fragmented auto aftermarket, aiming to expand its national footprint. The company is considering geographic expansion into new states such as Texas, Arizona, and Colorado to grow its presence.
• Operational Improvements and Digital Innovation: The company is focusing on operational enhancements and digital strategies, including leveraging artificial intelligence (AI) and data analytics to optimize pricing and inventory management. Additionally, Monro has hired a new marketing executive to improve digital marketing efforts and target high-value customers, and it is using tablet-based technology for standardized vehicle inspections (ConfiDrive Courtesy Inspection) to enhance customer trust. These efforts are part of a broader company improvement plan designed to drive comparable store sales growth.
• Favorable Automotive Aftermarket Trends: Monro is well-positioned to benefit from macroeconomic and industry trends, such as the increasing age of vehicles on the road (averaging over 12 years) and the growing total vehicle population. The increasing complexity of modern vehicles is also driving a continuing shift from "Do It Yourself" (DIY) to "Do It For Me" (DIFM) services, which is expected to accelerate with future technology advances.
• Pricing Optimization and Management: Monro is implementing strategies to optimize pricing, including the use of machine learning tools for tire pricing. The company also expects to realize year-over-year comparable store sales growth partly through tariff-related price adjustments to customers. These pricing actions are anticipated to contribute to revenue growth and gross margin improvements.
• Store Portfolio Optimization and Customer Focus: Monro is actively optimizing its store portfolio by divesting underperforming locations and reinvesting the proceeds into marketing and initiatives aimed at attracting high-value customers. This strategy involves driving productivity improvements and sales growth across its retail locations, particularly focusing on approximately 300 smaller or underperforming stores.

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Share Issuance

• Monro implemented a limited duration shareholder rights plan in November 2025, in response to a significant accumulation of shares by Icahn Enterprises L.P.
• Under this plan, one right was issued for each common share outstanding as of November 24, 2025, which would become exercisable if an entity acquired 17.5% or more of Monro's outstanding shares.

Inbound Investments

• Icahn Enterprises L.P. rapidly accumulated nearly 17% beneficial ownership in Monro by November 2025.

Outbound Investments

• As of March 29, 2025, Monro completed 5 acquisitions in the preceding five years, adding 69 locations and approximately $103 million in annualized revenue, though no acquisitions were made in fiscal 2025.
• In May 2022, Monro agreed to sell its wholesale tire operations and internal tire distribution operations for approximately $105 million.
• Monro closed 145 underperforming stores as part of a Store Closure Plan, which generated a net gain of $21.1 million from the sale of owned stores and lease terminations, with cumulative real estate disposition proceeds reaching $22.8 million fiscal year-to-date in Q3 2026.

Capital Expenditures

• For the full fiscal year 2026, Monro expects capital expenditures to be in the range of $25 million to $35 million, primarily for upgrading facilities and systems.
• During the first nine months of fiscal 2026, the company invested $22 million in capital expenditures.