American Eagle Outfitters Earnings: AEO Stock Rockets 14% Higher Despite Q1 Misses


American Eagle Outfitters (NYSE:AEO) earnings for the clothing retailer’s fiscal first quarter of 2020 have AEO stock on the rise Wednesday. That’s despite it reporting adjusted losses per share of 84 cents. That’s worse than Wall Street’s estimate of a 29-cent loss. Its revenue of $551.69 million also couldn’t match analysts’ estimates of $634.26 million.

American Eagle Outfitters Earnings: AEO Stock Rockets 14% Higher Despite Q1 Misses

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Here are some additional details from the most recent American Eagle Outfitters earnings report.

  • Adjusted per-share losses are much worse than the company’s adjusted EPS of 24 cents from the fiscal first quarter of 2019.
  • Revenue comes in 38% lower than the $886.29 million reported during the same period of the year prior.
  • An operating loss of $358.24 million is sitting much lower year-over-year next to an operating income of $47.85 million.
  • The American Eagle Outfitters earnings report also has it bringing in a net loss of $257.16 million.
  • That’s a major decline compared to its net income of $40.75 million from the same time last year.

Jay Schottenstein, chairman and CEO of American Eagle Outfitters, said this about the AEO earnings report.

“AEO entered this crisis with a strong balance sheet and two of the most recognized, trusted and loved brands. Recent liquidity measures will protect our financial strength and enable us to continue to invest in our business, further solidifying our competitive position.”

American Eagle Outfitters doesn’t provide an outlook update in its current report. However, it does say it’s moving through spring and summer inventory to make way for the fall and back-to-school seasons.

AEO stock was up 14% as of Wednesday afternoon.

As of this writing, William White did not hold a position in any of the aforementioned securities.

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