Corrected: Canada's Kits Eyecare preliminary Q3 revenue beats estimates on glasses growth

Kits Eyecare

07/10/2026 12:11

Corrects to add dropped word "revenue" in headline

Overview
Canada eyecare provider's preliminary Q3 revenue grew 21.6% yr/yr, beating analyst expectations
Glasses revenue surged 59.3% yr/yr, driven by investment in retail and marketing
Company ended Q3 with C$30.6 mln cash and no debt

Outlook
Company did not provide specific financial guidance for the current qtr or full yr in the press release

Result Drivers
GLASSES SALES - Co said Q3 glasses revenue grew 59.3% yr/yr, becoming a second growth and gross margin engine alongside contacts, per CEO Roger Hardy
INVESTMENT IN RETAIL AND MARKETING - Co attributed glasses revenue growth to continued investment in glasses growth, Toronto retail store and marketing

Company press release: ID:nCNWrHnfna

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
Beat
C$63.70 mln
C$62.99 mln (5 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy"
Wall Street's median 12-month price target for Kits Eyecare Ltd is C$23.00, about 37.7% above its October 6 closing price of C$16.70
The stock recently traded at 56 times the next 12-month earnings vs. a P/E of 46 three months ago

Reuters Recommended Reads
Oct 6 - Innovative Eyewear preliminary Q3 net sales rise to record high
Oct 6 - Toronto home sales post steepest decline since February on economic uncertainty

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 (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)