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Apr 03, 2021
National Vision Q1 2021 Earnings Report
Reported first quarter financial results, showing revenue increase and raised fiscal year outlook.
Key Takeaways
National Vision Holdings reported a strong first quarter with a 13.7% increase in net revenue to $534.2 million and a 346% increase in net income to $43.4 million. The company also raised its fiscal year 2021 outlook, anticipating continued growth.
Net revenue increased by 13.7% to $534.2 million.
Comparable store sales growth was 18.2%, with adjusted comparable store sales growth at 35.8%.
Net income increased by 346% to $43.4 million, with diluted EPS increasing by 302% to $0.48.
The company opened 25 new stores, bringing the total to 1,230 stores.
Revenue by Segment
Forward Guidance
National Vision provided an updated fiscal 2021 outlook, anticipating net revenue between $1.975 billion and $2.025 billion, and adjusted diluted EPS between $1.07 and $1.12.
Positive Outlook
- New Stores ~75
- Adjusted Comparable Store Sales Growth 16% - 19%
- Net Revenue $1.975 - $2.025 billion
- Adjusted Operating Income $155 - $162 million
- Adjusted Diluted EPS $1.07 - $1.12
Challenges Ahead
- The ultimate impacts of COVID-19 on the Company’s financial outlook remain uncertain.
- The outlook shown below assumes no material deterioration to the Company’s current business operations as a result of COVID-19, governmental actions and regulations.
- Given the uncertainties, dynamic nature, resurgence, and unknown duration of the pandemic, the Company is continuing to evaluate additional measures that may be taken to respond to the impact of COVID-19 on its business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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