National Vision Posts Loss From Cont. Ops. In Q2; Revises FY24 Outlook

(RTTNews) - National Vision Holdings (EYE) posted a second quarter loss from continuing operations, net of tax, of $1.0 million, compared to profit of $3.6 million, last year. Loss per share from continuing operations was $0.01, compared to profit of $0.05. Adjusted EPS from continuing operations was $0.15 compared with $0.12. On average, ten analysts polled by Thomson Reuters expected the company to report profit per share of $0.09, for the quarter. Analysts' estimates typically exclude special items.

Net revenue increased 4.6% to $451.7 million compared to the second quarter of 2023. Comparable store sales growth was 2.2% and adjusted comparable store sales growth was 2.4%. Analysts on average had estimated $452.36 million in revenue.

The company provided updated outlook for the 52 weeks ending December 28, 2024. From continuing operations, net revenues are projected to be in a range of $1.82 - $1.84 billion, revised from prior guidance range of $1.825 - $1.865 billion. Adjusted EPS is now expected in a range of $0.45 - $0.50.

National Vision announced the appointment of Alex Wilkes as President, effective August 19, 2024. Wilkes joins National Vision from CooperVision.

National Vision also announced that Patrick Moore, Chief Operating Officer and former Chief Financial Officer, plans to retire at the end of the current year. Moore will remain in his role until August 19, 2024, at which time he will shift to an advisory role.

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