American Eagle Outfitters Q3 Earnings Surge After Beat – American Eagle Outfitters (NYSE:AEO)

  • American Eagle Outfitters Inc. AEO Shares for the third quarter of FY22 declined 3% year-on-year to $1.24 billion, beating the consensus of $1.21 billion.
  • net revenue from Aerie gained 11% Y/Y, and American Eagle fell 11%.
  • Consolidated store revenue decreased 4%, and digital revenue declined 5% compared to last year. Compared to a pre-pandemic Q3 2019 base, store revenue increased 3%, and digital revenue increased 35%.
  • Gross profit fell 15% Y/Y to $480 million, and gross margin shrank 560 basis points Y/Y to 38.7%.
  • Operating margin was 9.5%, and operating income for the quarter was $118 million.
  • EPS of $0.42 beat the analyst consensus of $0.22.
  • As of October 29, 2022, the Company had $82.1 million in cash and equivalents.
  • Total consolidated ending inventory at cost increased 8% to $798 million.
  • read this also, American Eagle Stock Is Soaring Today: Here’s Why
  • outlook: For Q4, the company is guiding to lower brand revenue in the mid-single digits and expects brand comp to be in line with the third quarter.
  • The company is also guiding Q4 gross margin in the range of 32% to 33%, which is at the high end of previous guidance of the low-30s.
  • The company expects inventory at the end of the fourth quarter to be down to last year’s.
  • Price Action: AEO shares are trading up 17.35% at $15.26 at last check on Tuesday.
  • Photo via Wikimedia Commons

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