Key Highlights

  • Net Revenue was USD 510.5 million, with 1,285 stores open at October 3, 2026.
  • Adjusted diluted EPS was USD 0.30, against USD 0.13 in the prior-year quarter.
  • Net income reached USD 19.2 million, compared with USD 3.4 million a year earlier.
  • Full-year net revenue outlook now stands at USD 2.02 billion to USD 2.04 billion.

National Vision Holdings (NASDAQ:EYE) reported third-quarter fiscal 2026 net revenue of USD 510.5 million, against an estimate of USD 512.53 million. Adjusted Diluted Earnings per Share were USD 0.30, against an estimate of USD 0.17. Revenue was USD 487.3 million in the same quarter a year earlier.

The company operates 1,285 retail stores across four brands: 1,074 America's Best Contacts and Eyeglasses stores, 121 Eyeglass World stores, 72 Vista Optical locations on select military bases and 18 Vista Optical locations within select Fred Meyer stores. Eight new stores opened in the quarter, compared with four in the year-earlier period.

Revenue Mix, Costs and Profitability

Net product sales were USD 410.6 million, up from USD 393.5 million, and net sales of services and plans were USD 99.9 million, up from USD 93.8 million. Total costs applicable to revenue were USD 210.1 million, or 41.1% of net revenue, compared with 41.7%.

Selling, general and administrative expenses were USD 247.1 million, or 48.4% of net revenue, against USD 252.3 million and 51.8% a year earlier. Income from operations was USD 31.0 million, compared with USD 9.6 million. Adjusted Operating Income was USD 37.1 million, or 7.3% of net revenue, against USD 19.8 million, or 4.1%.

Net income was USD 19.2 million, and diluted EPS was USD 0.24 compared with USD 0.04. Adjusted EBITDA was USD 59.6 million, or 11.7% of net revenue, compared with USD 41.8 million, or 8.6%. For the nine months, net revenue was USD 1.55 billion and Net Income was USD 62.8 million.

Updated Fiscal 2026 Outlook

On the call, management updated its full-year outlook. Net revenue now stands at USD 2.02 billion to USD 2.04 billion, supported by adjusted comparable store sales growth of approximately 2% to 3%. Adjusted operating income stands at USD 119 million to USD 131 million, with Depreciation and amortization of USD 92 million to USD 93 million.

At the midpoint, the outlook reflects adjusted Operating Margin expansion of approximately 110 basis points relative to fiscal 2025, excluding the fifty-third week, driven primarily by selling, general and administrative leverage. The company said the outlook reflects continued traffic pressure among lower-value transactions in the current consumer environment and a mix shift toward higher-value transactions, including managed care.

For the fourth quarter, management guided to a lower adjusted operating margin rate as the Business enters its lower seasonal sales period and continues to invest. That includes reinvesting the third-quarter Tariff refund benefit into additional Marketing to support Brand awareness.

Liquidity Notes and Reported Operating Measures

The filing describes the company's primary cash needs as inventory, payroll, store rent, advertising, capital expenditures for new and updated stores, and technology and remote medicine infrastructure. It states that excess Liquidity may go toward Debt service, including voluntary prepayments, or toward repurchases of common stock or other securities.

Among the operating measures reported are store count, new store openings, adjusted operating income, adjusted EBITDA and adjusted diluted EPS. Interest expense, net was USD 3.0 million, against USD 4.1 million, and the income tax provision was USD 8.8 million, against USD 2.1 million.