The following is a summary of the National Vision Holdings, Inc. (EYE) Q1 2024 Earnings Call Transcript:

Financial Performance:

• National Vision Holdings reported a Q1 net revenue increase of 4.2%, driven by its managed care business and America's Best growth, achieving relatively flat adjusted comparable store sales growth.

• The company achieved an adjusted diluted earnings per share of $0.32, courtesy of disciplined expense management.

• Its adjusted operating income reached $35.8 million, and adjusted operating margin improved slightly by 10 basis points to 6.6% due to effective cost management and pricing actions.

Business Progress:

• National Vision is in a mid-transformation phase, setting a foundation for future growth by maintaining customer focus and effective cost structure management.

• The company aims to increase its remote-enabled stores to around 700 by year's end, with over 7% of total exams currently remote.

• The company's market opportunity has increased by 350 additional locations based on thorough third-party real estate data analysis, indicating a potential future market of 2,500 stores, more than double the current number.

• The company plans to implement patient access initiatives, new product introductions and continue rolling out remote capabilities for eye tests into Texas to benefit their revenue.

• National Vision has expanded their doctor coverage by adding about 1,000 doctors and 120 stores over the past two years despite changes in doctor work patterns.

• Remote doctor initiatives have shown promising results, with these doctors performing the same number of exams as in-person doctors.

More details: National Vision IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.