National Vision Q4 Results Miss Estimates; Sees FY Profit Below View - Quick Facts

(RTTNews) - National Vision Holdings Inc. (EYE) reported that its fourth quarter net loss was $9.26 million or $0.12 per share compared to a net income of $6.22 million or $0.07 per share in the prior year.

Adjusted loss per share was $0.08 compared to adjusted net income of $0.13 in the previous year. Analysts polled by Thomson Reuters expected the company to report a loss of $0.02 per share for the fourth quarter. Analysts' estimates typically exclude special items. The net change in margin on unearned revenue negatively impacted adjusted earning per share by $0.10.

Net revenue decreased 1.9% to $468.9 million from the fourth quarter of 2021. Analysts expected revenue of $470.61 million for the quarter. Net revenue was negatively impacted by 2.9% due to the timing of unearned revenue.

Comparable store sales was down 5.7% and adjusted Comparable Store Sales was down 2.4%.

Looking ahead for fiscal year 2023, the company projects adjusted earnings per share to be in the range of $0.42 - $0.60, and adjusted comparable store sales growth of 0% - 3%. Analysts expect annual earnings of $0.98 per share.

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