American Eagle Outfitters Inc. (AEO) reported its third-quarter financial results, revealing a decline in profit compared to the same period last year, while surpassing Wall Street's expectations.
The company's net income for the quarter was $80.12 million, or $0.41 per share, compared to $96.70 million, or $0.49 per share, recorded in the third quarter of the previous year.
On an adjusted basis, which excludes certain items, the company posted earnings of $93.0 million, or $0.48 per share, for the quarter.
These results exceeded the consensus of analysts' expectations, which anticipated earnings of $0.46 per share, according to data from Thomson Reuters. Notably, analysts' forecasts generally exclude special items.
Revenue for the quarter experienced a slight decrease of 0.9%, totaling $1.289 billion, down from $1.301 billion in the same quarter last year.
A snapshot of American Eagle Outfitters Inc.'s earnings performance (GAAP) for the third quarter is as follows:
- Net Income: $80.12 million versus $96.70 million the previous year.
- Earnings Per Share (EPS): $0.41 compared to $0.49 last year.
- Revenue: $1.289 billion compared to $1.301 billion last year.
