<p>American Eagle (NYSE: AEO) revenues for the clothing retailer’s fiscal fourth quarter 2019 have AEO shares taking flight after Wednesday night. This is because the adjusted earnings per share (EPS) of 37 cents beat Wall Street‘s estimate of 36 cents. Its $ 1.31 billion revenue also helps by surpassing analysts’ estimates of $ 1.27 billion.
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Here are some additional highlights from the latest American Eagle results report.
Adjusted earnings per share decreased by 13.95% from 43 cents during the same period last year. Revenue for the quarter increased by 5.6% compared to $ 1.24 billion in the fourth quarter of 2018. Operating profit of $ 476,000 is a decrease of 99.5% compared to the previous year from $ 101.4 million. The American Eagle earnings report also includes a net income of $ 4.76 million. This is a decrease of 93.8% from the company’s net profit of $ 76.17 million compared to the same period last year.
Jay Schottenstein, chairman and CEO of American Eagle, said this about AEO stock earnings.
“” Although we faced some challenges in 2019, we made good progress on our strategic growth pillars and had record revenues. We saw strong customer engagement and positive traffic across brands and channels. Aerie delivered exceptional growth, led by its unique brand positioning and strong customer connectivity, and has a significant runway ahead. ”
The American Eagle earnings report also includes the outlook for fiscal first quarter 2020. This expects adjusted earnings per share from 20 cents to 22 cents. Wall Street’s estimate is for adjusted EPS of 21 cents during the quarter.
The AEO share rose 7% after the markets closed on Wednesday.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/03/american-eagle-earnings-send-aeo-stock-up/.
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