American Eagle Outfitters Inc. (NYSE:AEO) is expected to report a 275% surge in its second quarter 2023 earnings per share (EPS) when the teen clothing retailer releases its latest financial results on Wednesday, September 6, 2023.
The analyst forecast is for 2Q EPS of $0.15 on a 0.9% year-over-year decline in revenue to $1.19 billion, according to the Zacks Consensus Estimate.
Over the past four quarters, the company has beaten consensus EPS estimates twice.
In early August, American Eagle increased its 2Q revenue guidance from being down low-single digits to about flat year over year, while stating its operating income for the period will exceed previous guidance of $25 to $35 million.
“I am pleased to note that demand picked up in late June, with strength continuing as we introduced our initial Fall collections in July, reflecting newness centered on emerging trends across our brands,” American Eagle Outfitters CEO Jay Schottenstein stated at the time.
“Looking to the second half of the year, we remain focused on building our category leadership and creating unique customer connections, while maintaining a sharp eye on improved profit flow through,” he added.
American Eagle has been well-poised to benefit from brand strength, innovation efforts, solid omni-channel capabilities and focus on efficient inventory management, Zacks noted.
Shares of American Eagle Outfitters rose 1.4% to $17.20 in late-morning on Friday and have gained 19% year to date.
Contact Sean at sean@proactiveinvestors.com