National Vision Holdings, Inc. EYE posted first-quarter 2026 adjusted earnings of 45 cents per share, up 32.4% year over year. The bottom line beat the Zacks Consensus Estimate by 4.7%.
Quarterly net revenues were $543.9 million, up 6.6% from the year-ago period’s level. The figure beat the Zacks Consensus Estimate by about 0.2%. Higher average ticket and continued strength in the managed care cohort helped drive adjusted comparable store sales growth of 4.5% in the quarter.
EYE’s Sales Lift Reflects Unearned Revenue Timing
EYE’s top-line growth can be attributed to a combination of underlying demand and accounting timing. Revenue growth was driven by stronger results in its core business and a positive 2.0% impact from the timing of unearned revenues.
National Vision’s Brand Trends Remain Broadly Positive
Within the Owned & Host segment, performance was positive across key banners. America’s Best comparable sales rose 4.4% year over year, while Eyeglass World comparable sales improved 5.2%.
Other channels also contributed. Military comparable sales increased 2.2% and the Fred Meyer host business posted 4.7% growth, pointing to solid execution across formats.
EYE’s Margin
On a consolidated basis, gross profit in the first quarter increased 6.4% year over year to $324.7 million, driven by higher revenues of $543.9 million. Gross margin was 59.7%, edging down about 8 bps from the prior-year quarter’s level, as costs applicable to revenues rose 6.8% to $219.1 million.
SG&A expenses rose 0.2% marginally to $256.1 million. Operating income climbed to $45.2 million, translating into an operating margin of 8.3%, which expanded roughly 320 bps year over year.
EYE Financial Details
National Vision ended the first quarter of 2026 with cash and cash equivalents of $67.9 million compared with $38.7 million in the fourth quarter of 2025.
Net cash provided by operating activities for the quarter totaled $61.7 million compared with $32.2 million in the prior-year period.
National Vision Holdings, Inc. Price, Consensus and EPS Surprise
National Vision Holdings, Inc. price-consensus-eps-surprise-chart | National Vision Holdings, Inc. Quote
National Vision Reiterates 2026 Targets
For 2026, net revenues are projected to be in the range of $2.03-$2.09 billion. The Zacks Consensus Estimate for the metric is currently pegged at $2.06 billion.
Adjusted EPS is estimated to be between 85 cents and $1.09. The Zacks Consensus Estimate is currently pegged at 94 cents.
Our Take on National Vision
National Vision ended the first quarter of 2026 with better-than-expected earnings and revenues. EYE continued to reshape its footprint while still adding units. During the quarter, the company opened eight new America’s Best stores and closed three America’s Best locations and one Military store. EYE expanded its military channel by adding 20 new Military stores during the quarter. Total store count was 1,274 locations, and overall store count increased 3.0% year over year.
The company announced an expanded relationship with the Army and Air Force Exchange Service (“AAFES”), designating National Vision as the sole optical retail partner on AAFES bases in the United States.
EYE’s Zacks Rank and Other Key Picks
National Vision currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks from the broader medical space are Alcon ALC, Intuitive Surgical ISRG and Phibro Animal Health PAHC.
Alcon, currently carrying a Zacks Rank #2, reported a fourth-quarter 2025 EPS of 78 cents, which missed the Zacks Consensus Estimate by 0.8%. Revenues of $2.70 billion missed the Zacks Consensus Estimate by 0.2%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ALC has an earnings yield of 2.5% compared to the industry’s negative 1.6% yield. The company’s earnings surpassed estimates in two of the trailing four quarters and missed in the other two, the average surprise being 1.11%.
Intuitive Surgical, carrying a Zacks Rank #2 at present, posted a first-quarter 2026 adjusted EPS of $2.50, which exceeded the Zacks Consensus Estimate by 20.2%. Revenues of $2.77 billion topped the Zacks Consensus Estimate by 6.2%.
ISRG has an earnings yield of 2.1% in contrast to the industry’s negative yield of 0.9%. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 16.82%.
Phibro Animal Health, carrying a Zacks Rank #2 at present, posted a second-quarter fiscal 2026 adjusted EPS of 87 cents, which outpaced the Zacks Consensus Estimate by 27.01%. Revenues of $373.9 million outperformed the Zacks Consensus Estimate by 4.72%.
PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1% growth. The company’s earnings outpaced estimates in each of the trailing four quarters, the average surprise being 20.15%.
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This article originally published on Zacks Investment Research (zacks.com).