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National Vision Boosts FY21 Revenue Outlook As Q3 Results Top Estimates - Quick Facts

While reporting financial results for the third quarter on Wednesday, optical retail company National Vision Holdings, Inc. (EYE) maintained its adjusted earnings guidance for the full-year 2021, while raising annual net revenue and adjusted comparable store sales growth outlook.

For fiscal 2021, the company now projects adjusted net earnings in a range of $1.28 to $1.33 per share on net revenue between $2.04 billion and $2.06 billion, with adjusted comparable store sales growth of 21 to 22 percent.

Previously, the company expected adjusted net earnings in a range of $1.28 to $1.33 per share on net revenue between $2.01 billion and $2.06 billion, with adjusted comparable store sales growth of 19 to 20 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $1.34 per share on revenue of $2.07 billion for the year. Analysts' estimates typically exclude special items.

For the third quarter, net income increased to of $40.99 million or $0.45 per share from $35.29 million or $0.42 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.38 per share, compared to $0.25 per share in the year-ago quarter.

Net revenue for the quarter increased 6.7 percent to $518.01 million from $485.35 million in the same quarter last year. Comparable store sales growth was 3.4 percent and adjusted comparable store sales growth was 0.2 percent.

The Street was looking for earnings of $0.25 per share on revenue of $511.64 million for the quarter.

Effective November 8, 2021, the Company's board of directors authorized the Company to repurchase up to $50 million aggregate amount of shares of the Company's Common Stock.

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