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.
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