Monro disclosed that Carl Icahn’s investment entities purchased 4,439,914 shares, representing a 14.8% beneficial ownership of the company. The open‑market purchase was completed on November 4, 2025, and the ownership was made public on November 5, 2025, making Icahn one of the company’s largest shareholders.
Monro’s most recent quarterly results show earnings per share of $0.21, beating the consensus estimate of $0.18 by $0.03, or 16.7%. Revenue for the quarter was $288.9 million, down 4.0% from the $301.4 million reported a year earlier and $8.5 million below the $297.4 million consensus. The earnings beat was driven by disciplined cost management and a modest margin expansion, while the revenue decline reflects store closures and softer consumer demand that have weighed on the company’s overall sales.
The company’s revenue mix remains heavily concentrated in tires, which generated $565.1 million in the last fiscal year. Other segments, such as automotive services and parts, contributed the remainder of revenue but have experienced slower growth. The strong tire performance offsets the weaker service segment, helping to maintain overall profitability despite the revenue shortfall.
CEO Peter Fitzsimmons emphasized that the company is actively optimizing its store base and investing in digital marketing to drive traffic. He noted that the recent store optimization program has begun to show positive results, with a subset of stores outperforming the broader network. Fitzsimmons also highlighted the company’s focus on cost discipline and operational efficiency as key to sustaining margin improvement.
Investors reacted positively to the announcement of Icahn’s stake, interpreting it as a signal that an activist investor may push for operational improvements and governance changes. The market view reflects confidence that Icahn’s involvement could accelerate the turnaround plan that Fitzsimmons has outlined, even as the company continues to face headwinds such as margin compression and stagnant revenue growth.
The acquisition positions Icahn to potentially influence strategic decisions, including leadership changes and operational priorities. Monro’s management has indicated that it remains committed to its turnaround strategy, and the presence of a high‑profile activist investor may increase scrutiny of the company’s performance metrics and governance practices. Investors should monitor forthcoming disclosures for any shifts in strategy or leadership that could arise from this new ownership dynamic.
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