BUZZ-Monro shares crash to lowest since 2009 after results miss expectations

Shares of automotive repair and tire retailer Monro Inc MNRO.O among biggest S&P 1500 index .SPSUP losers on Weds after fiscal Q3 results miss consensus

MNRO shares drop as much as 11.9% to $19.39, lowest since Dec 2009. Stock last down 8.1% at $20.24

Fairport, New York-based firm posts adj EPS of 19 cents, down from 39 cents/sh a yr ago. Analysts on avg expected earnings of 29 cents/sh, according to LSEG data

Co said the Christmas holiday shift causing fewer selling days in the qtr negatively impacted EPS by approx 5 cents/sh in Q3

Rev in qtr decreased about nearly 4% y/y to $305.8 mln, below avg analysts' estimate of $311.1 mln, as same-store sales (SSS) declined 0.8%

Preliminary Jan SSS are down 1%, adjusted for one additional selling day, driven by weakness in tire category sales that were impacted by extreme weather, resulting in temporary store closures and reduced store traffic, co said

"We believe the extreme weather in January will benefit us in the coming months,” CEO Mike Broderick said in statement

Of 6 analysts covering MNRO, 1 rates "strong buy", rest rate "hold" and their median PT is $29 - LSEG

With move on the session, shares off ~18% YTD and down ~37% over the past 12 months