American Eagle Outfitters earnings (NYSE:AEO) met analysts’ expectations for the company’s latest period, but a weak guidance for its current quarter sent AEO stock declining.
The company, which is based out of Pittsburgh, Pennsylvania, said that for its third quarter of the current fiscal year, it brought in net income of $85.5 million, which came in at 48 cents per share. In the year-ago quarter, this figure came in at $63.7 million, which amounted to roughly 36 cents per share.
Analysts were calling for American Eagle Outfitters to bring in earnings of 48 cents per share, according to data compiled by FactSet. Revenue was below what analysts were calling for at $1 billion, missing the Wall Street consensus estimate of $1.02 billion, according to data compiled by FactSet.
The apparel retailer had raked in revenue of $960.4 million during its year-ago quarter, which means that its sales increased by 4.12% compared to the year-ago quarter. For its fourth quarter of the current fiscal year, American Eagle is calling for earnings in the range of 40 cents to 42 cents per share, which is below the Wall Street guidance of 47 cents per share.
AEO stock is declining about 0.7% after the bell on Tuesday as the company reported a weak fourth-quarter projection. Shares had been down about 2.5% during regular trading hours in anticipation of the company’s fiscal third quarter report.