National Vision Holdings, Inc. (NASDAQ:EYE) Q2 2022 Results Conference Call August 11, 2022 10:00 AM ET

Company Participants

David Mann - SVP, IR

Reade Fahs - CEO

Patrick Moore - COO and CFO

Conference Call Participants

Kate McShane - Goldman Sachs

Simeon Gutman - Morgan Stanley

Stephanie Wissink - Jefferies

Adrienne Yih - Barclays

Michael Lasser - UBS

Dylan Carden - William Blair

Zack Fadem - Wells Fargo

Bob Drbul - Guggenheim Partners

Operator

Thank you for standing by, and welcome to the National Vision’s Second Quarter 2022 Financial Results Conference Call. [Operator Instructions] As a reminder, today’s conference call is being recorded.

I would now like to turn the conference over to your host, Mr. David Mann, Senior Vice President of Investor Relations. Please go ahead.

David Mann

Thank you, and good morning, everyone. Welcome to National Vision’s Second Quarter 2022 Earnings Call.

Joining me on the call today are Reade Fahs, CEO; and Patrick Moore, COO and CFO. Our earnings release issued this morning and the presentation, which will be referenced during the call, are both available on the Investors section of our website, nationalvision.com, and a replay of the audio webcast will be archived on the Investors page after the call.

Before we begin, let me remind you that our earnings materials and today’s presentation include forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. These statements are subject to risks and uncertainties that could cause actual results to differ materially from our expectations and projections. These risks and uncertainties include, but are not limited to, the factors identified in the release and our filings with the Securities and Exchange Commission.

The release in today’s presentation also includes certain non-GAAP measures. Reconciliation of these measures is included in our release and the supplemental presentation. We also would like to draw your attention to Slide 2 in today’s presentation for additional information about forward-looking statements and non-GAAP measures. As a reminder, National Vision expects to provide certain supplemental materials or presentations for investor reference on the Investors section of our website.

Now let me turn the call over to Reade.

Reade Fahs

Thank you, David. Good morning, everyone. Thank you all for joining us today. I hope you’re all staying safe and healthy.

Turning to Slide 4 and Q2 summary. For the second quarter, net revenue decreased 7.3% versus our record Q2 sales last year, and adjusted comparable store sales declined 12.4% compared to the record 76.7% increase in the second quarter of 2021. We delivered adjusted diluted EPS of $0.21 for the quarter. We’re pleased with the bottom line performance this quarter, which reflected the team’s strong focus to manage expenses.