National Vision Backs FY22 Outlook As Q3 Adj. EPS Tops Estimates
(RTTNews) - While reporting financial results for the third quarter on Thursday, optical retail company National Vision Holdings, Inc. (EYE) maintained its adjusted earnings, net revenue and adjusted comparable store sales growth guidance for the full-year 2022.
For fiscal 2022, the company continues to project adjusted net earnings in a range of $0.65 to $0.77 per share on net revenue between $1.99 billion and $2.02 billion, with adjusted comparable store sales decline of 8 to 6.5 percent.
On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.73 per share on revenue of $2.01 billion for the year. Analysts' estimates typically exclude special items.
For the third quarter, net income increased to of $11.50 million or $0.15 per share from $40.99 million or $0.45 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.15 per share, compared to $0.38 per share in the year-ago quarter.
Total net revenue for the quarter decreased 3.6 percent to $499.21 million from $518.01 million in the same quarter last year. Comparable store sales decline was 8.0 percent and adjusted comparable store sales decline was 8.1 percent.
The Street was looking for earnings of $0.13 per share on revenue of $502.40 million for the quarter.
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