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Oct 01, 2022
National Vision Q3 2022 Earnings Report
Reported a decrease in net revenue and net income due to a challenging consumer environment.
Key Takeaways
National Vision Holdings, Inc. reported a 3.6% decrease in net revenue to $499.2 million and a 71.9% decrease in net income to $11.5 million for the third quarter of 2022. The company opened 18 new stores and expanded its remote medicine rollout to approximately 300 stores. The company reaffirms the previously provided outlook for its key operating metrics, while updating its expectations for depreciation and amortization and interest.
Net revenue decreased by 3.6% to $499.2 million.
Comparable store sales growth was (8.0)%, with Adjusted Comparable Store Sales Growth of (8.1)%.
Net income decreased by 71.9% to $11.5 million, and diluted EPS decreased by 67.7% to $0.15.
Adjusted Operating Income decreased by 60.8% to $21.5 million.
Revenue by Segment
Forward Guidance
The Company reaffirms the previously provided outlook for its key operating metrics, while updating its expectations for depreciation and amortization and interest. The Company is providing the following outlook for the 52 weeks ending December 31, 2022:
Positive Outlook
- New Stores: At least 80
- Adjusted Comparable Store Sales Growth: (8%) - (6.5%)
- Net Revenue: $1.99 - $2.02 billion
- Adjusted Operating Income: $85 - $100 million
- Adjusted Diluted EPS: $0.65 - $0.77
Challenges Ahead
- The ultimate impact of macro-economic factors on the Company’s financial outlook remains uncertain with dynamic market conditions
- Constraints on exam capacity
- The ongoing COVID-19 pandemic
- Risks of recession
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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