Why National Vision Holdings Stock Dived Today
The future was a bit unclear for eye care specialist National Vision Holdings (NASDAQ: EYE) on Tuesday, following the release of its first-quarter results this morning. Although the company topped analyst estimates for profitability, there was a big catch looming in its earnings release. As a result, the stock ended the day nearly 26% lower.
National Vision revealed that its revenue for the quarter was just under $528 million, which was marginally (1.2%) lower than the year-ago quarter. Comparable-store performance saw a steeper decline, however, tumbling by almost 5% across that stretch of time.
But these drops were no match for the slide in GAAP net earnings, which fell at a nearly 31% clip to just over $30 million. On a non-GAAP (adjusted) basis, the company earned $0.33 per share.
Source Fool.com
