National Vision Trims FY22 Forecast Citing Macro-Economic Factors; Q2 Earnings Top Estimates

  • National Vision Holdings Inc EYE reported a second-quarter FY22 sales decline of 7.3% year-on-year to $509.56 million, beating the consensus of $500.58 million.
  • Comparable store sales declined 11%. The company opened 22 new stores in the quarter, bringing the total units to 1,314 at quarter-end.
  • Selling, General, and administration expenses decreased 2.7% Y/Y to $227.8 million.
  • Adjusted operating margin contracted 640 basis points Y/Y to 5.5%, and adjusted operating income for the quarter fell 57.6% to $27.8 million.
  • The company held $255.6 million in cash and equivalents as of July 2, 2022. Cash provided by operating activities for six months totaled $88 million.
  • Adjusted EPS of $0.21 beat the consensus of $0.06.
  • Adjusted EBITDA of $51.2 million declined 41.7% Y/Y.
  • Outlook: National Vision lowered FY22 sales guidance to $1.99 billion - $2.02 billion from $2.01 billion - $2.07 billion, versus the consensus of $2.05 billion.
  • The company sees an FY22 adjusted EPS outlook of $0.65 - $0.77 (prior view $0.65 - $0.80) versus the Street view of $0.73.
  • Price Action: EYE shares closed higher by 3.98% at $32.65 on Wednesday.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsGuidanceGeneralBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!