National Vision reported third quarter 2026 revenue of $510.5 million, slightly missing estimates, while adjusted EPS of $0.30 nearly doubled analyst expectations. Performance was driven by a 2.8% increase in adjusted comparable store sales and significant margin expansion, though the company lowered its full-year 2026 revenue and comparable sales guidance to reflect a challenging consumer environment for lower-value transactions.
Key Highlights
- Adjusted operating margin expanded 320 basis points to 7.3%, supported by store labor efficiencies and a $4.7 million one-time IEEPA tariff refund.
- Comparable store sales growth of 3.6% was led by a favorable mix shift toward higher-value products and continued strength in the managed care cohort.
- The company authorized a new $100 million share repurchase program effective through December 2030, following $20 million in repurchases during the quarter.
- Management lowered FY2026 adjusted comparable store sales growth guidance to 2.0%–3.0% from the prior range of 3.0%–5.0%.