National Vision Boosts FY23 Outlook As Q3 Results Top Estimates
(RTTNews) - While reporting financial results for the third quarter on Thursday, optical retail company National Vision Holdings, Inc. (EYE) raised its adjusted earnings, net revenue and adjusted comparable store sales growth guidance for the full-year 2023.
For fiscal 2023, the company now projects adjusted net earnings in a range of $0.53 to $0.58 per share on net revenue between $2.115 billion and $2.125 billion, with adjusted comparable store sales growth of about 2 percent.
Previously, the company expected adjusted net earnings in a range of $0.48 to $0.66 per share on net revenue between $2.075 billion and $2.135 billion, with adjusted comparable store sales growth of 0 to 3 percent.
On average, 11 analysts polled by Thomson Reuters expect the company to report earnings of $0.52 per share on revenue of $2.11 billion for the year. Analysts' estimates typically exclude special items.
For the third quarter, the company reported a net loss of $73.80 million or $0.94 per share, compared to $11.50 million or $0.15 per share in the prior-year quarter. Excluding items, adjusted earnings for the quarter were $0.15 per share, compared to $0.15 per share in the year-ago quarter.
Total net revenue for the quarter increased 6.6 percent to $532.36 million from $499.21 million in the same quarter last year. Comparable store sales growth was 3.8 percent and adjusted comparable store sales growth was 4.3 percent.
The Street was looking for earnings of $0.09 per share on revenue of $526.16 million for the quarter.
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