🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

National Vision posts strong Q3 results, reaffirms 2024 outlook

EditorRachael Rajan
Published 06/11/2024, 11:42
EYE
-

NEW YORK - National Vision Holdings, Inc. (NASDAQ: NASDAQ:EYE) reported better-than-expected third quarter earnings on Wednesday, as the optical retailer saw continued strength in its managed care business and growth at America's Best stores.

The company posted adjusted earnings per share of $0.12, exceeding analyst estimates of $0.06. Revenue rose 2.9% year-over-year to $451.5 million, slightly above the consensus forecast of $451.12 million.

Comparable store sales growth was 1.4% in Q3, while adjusted comparable store sales growth came in at 0.9%. The company said this reflected a higher average ticket and an increase in customer transactions.

"We are encouraged by the progress we are making against key elements of our transformation," said CEO Reade Fahs. He noted that America's Best continued to drive sales performance, supported by strength in the managed care business.

For the full year 2024, National Vision reaffirmed its outlook, projecting adjusted EPS of $0.45-$0.50 on revenue of $1.82-$1.84 billion. This compares to analyst expectations for EPS of $0.46 on revenue of $1.83 billion.

The company opened 18 new stores in Q3 and ended the period with 1,231 locations, representing 4.9% store count growth year-over-year. National Vision plans to open 30-35 new stores in fiscal 2025.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.