National Vision Q2 Earnings Fall, Raises FY Outlook; Confirms Revenue Outlook

(RTTNews) - National Vision Holdings, Inc. (EYE), an optical retailer, on Thursday reported lower earnings for the second quarter. However, revenue increased by 3.1 percent. The company also lifted its full-year earnings outlook and confirmed its full-year revenue guidance.

Quarterly earnings fell 42.3 percent to $5.6 million from $9.7 million for the same period last year. Earnings per share decreased 40.8 percent to $0.07 per share from $0.12 per share the previous year.

On an adjusted basis, earnings were $0.17 per share. On average, 11 analysts polled by Thomson Reuters expected the company to report earnings of $0.09 per share for the quarter. Analysts' estimates typically exclude one-time items.

Revenues however, increased to $525.3 million from $509.55 million of the prior year, due to growth in new store sales and an increase in adjusted comparable store sales growth. The Street estimate for revenue was $525.15 million for the quarter.

Looking ahead to the full year, the company now expects the adjusted earnings per share to be at or above the midpoint in the range $0.42 to $0.60 per share. The Street estimates earnings per share is $0.51.

Revenue is maintained in the range of $2.075 billion to $2.135 billion. The Street estimate for revenue is $2.11 billion.

On Wednesday, shares of National Vision closed at $20.95, up 0.77% on Nasdaq.