National Vision Holdings Q1 Earnings Rise; Ups Full-year Outlook

National Vision Holdings, Inc. (EYE) Thursday said its net income in the first quarter increased 346% to $43.4 million from $9.7 million in the same quarter a year ago.

Reade Fahs, chief executive officer said, "Our first quarter results were likely helped by the interplay of the continued hastening of industry trends that favor our low price offerings and pent-up demand, aided by government stimulus."

Earnings per share in the first quarter increased 302% to $0.48 from $0.12 in the year-ago quarter.

Excluding items, earnings were $0.48 per share, that beat the average estimate of analysts polled by Thomson Reuters at $0.31 per share.

Revenue for the quarter increased 13.7% to $534.18 million from $469.7 million a year ago. The consensus estimate was for $522.14 million.

Comparable store sales growth was 18.2% for the quarter.

Looking forward, the company has raised its full-year outlook.

National Vision Holdings expects adjusted earnings to be in the range of $1.07 - $1.12 in the full-year compared with $0.88 - $0.93 provided earlier.

Revenue for the full-year are expected between $1.975 billion and $2.025 billion compared with $1.93 billion - $1.98 billion guided previously.

Analysts expect the company to report earnings of $0.89 per share on revenue of $1.96 billion for the period.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Delta Air Lines is set to resume flights on its routes between the U.S. and Japan from October 30, 2002 in anticipation of easing of COVID-19-related travel restrictions, which were put in place two years ago. The airline joins American Airlines and United Airlines, who have reportedly announced the resumption of flights to Japan. Tech major Apple Inc. has asked corporate employees to return to offices at least three days a week by September 5, Bloomberg reported. The latest deadline was issued following several delays to its previous deadlines amid a resurgence in COVID-19 cases. As per the report, the company will require employees to work from offices on Tuesdays, Thursdays and a regular third day to be determined by... Retail giant Walmart reported Tuesday a net profit for the second quarter that grew 20.4 percent from last year, reflecting lower operating expenses and partially inflation driven revenue growth. The results were also driven by the rebound in international markets. Quarterly revenues topped analysts' expectations. The retailer also raised its adjusted earnings guidance for the full-year 2023.
Follow RTT