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

Financial Performance:

• National Vision reported a 4.2% increase in net revenues for the first quarter, primarily driven by the strength of the managed care business and growth within the America's Best segment.

• The company posted an adjusted diluted earning per share of $0.32, reflecting disciplined expense management.

• The company experienced a slow start to the quarter due to external factors like adverse weather conditions and delayed tax refunds, resulting in cautious customer spending.

• Benefits were seen from disciplined expense management and lower incentive compensation.

• Although exact figures were not provided, the company was seeing low single-digit comps in March and April.

Business Progress:

• The company made significant progress in its transformational strategy, heavily orientating towards customers and maintaining discipline in expense management.

• Despite some states' restrictions on tele-optometry, the company continues to expand its remote exam capabilities.

• The company is focused on achieving mid-single digit growth targets despite a challenging macroeconomic environment.

• National Vision is set to expand its store footprint, now projecting at least 1,650 America's Best locations and maintaining at least 850 Eyeglass World locations, leading to a total opportunity of at least 2,500 stores.

• AI investment in Toku Inc. has been fruitful with ongoing success in pilots using retinal image technology to determine a person's biological age.

• The company is implementing a digital transformation strategy that includes AI technology.

• The company managed to increase capacity significantly by adding around 1,000 doctors and 120 new stores over the past two years.

• The company's remote protocol solution has shown success, with a major boost expected with the remote rollout in Texas.

• The company is focused on converting more white space into profit-generating stores, supported by improved exam capacity and remote practices.

• They remain committed to meeting their mid-single-digit EBIT margin target by 2025.

More details: National Vision IR

Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.