American Eagle Outfitters (NYSE:AEO) saw its stock slip on Thursday despite reporting an earnings beat for the first quarter of 2018.
American Eagle Outfitters reported earnings per share of 23 cents for the first quarter of the year. This is up from its earnings per share of 16 cents reported in the first quarter of 2017. It also beat out Wall Street’s earnings per share estimate of 22 cents for the period.
Net income reported by American Eagle Outfitters for the first quarter of 2018 was sitting at $39.93 million. This is better off than the clothing retail company’s net income of $25.24 million that was reported in the same period of the year prior.
During the first quarter of the year, American Eagle Outfitters reported operating income of $50.71 million. The company’s operating income from the first quarter of the previous year was $36.95 million.
American Eagle Outfitters also reported revenue of $822.96 million for the first quarter of 2018. This is an increase from AEO’s revenue of $761.84 million reported in the same time last year. It also came in above analysts’ revenue estimate of $805.17 million for the quarter, but wasn’t enough to keep AEO stock up today.
American Eagle Outfitters’s earnings report for the first quarter of the year also includes an outlook for the second quarter of 2018. The company says that it is expecting earnings per share of the period to range from 27 cents to 29 cents. Wall Street is looking for earnings per share of 25 cents for the quarter.
AEO stock was down slightly as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.