National Vision reports Q3 adjusted EPS 15c, consensus 9c

Reports Q3 revenue $532.4M, consensus $526.16M. Comparable store sales growth of 3.8% and Adjusted Comparable Store Sales Growth of 4.3% from Q3 2022. Reade Fahs, National Vision’s CEO, said, “Our third quarter results reflect ongoing strength in our managed care business as well as continued progress on our strategic initiatives focused on expanding exam capacity, particularly within America’s Best. We delivered a solid Back to School selling season, supported by our focus on delivering incredible value while offering exceptional customer service.” Fahs continued, “I am proud of how our teams have continued to operate with discipline and focus on customer care as we continue to navigate a dynamic macro environment. With the upcoming termination of our Walmart partnership, we have taken actions to mitigate disruption of the business until the transition is completed while identifying opportunities within our cost structure to better align our expense profile with our go-forward operating model. As we look to the balance of this year, we are focused on continuing to execute on our initiatives and remain committed to our mission of making quality eye care and eyewear more affordable and accessible.”