American Eagle Outfitters Stock Drops as Q2 Revenue Misses Analyst Estimate-To The Moon - Tiger Brokers Online Investing Community - To The Moon

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American Eagle Outfitters Stock Drops as Q2 Revenue Misses Analyst Estimate

Dow Jones08-29

Retailer expects 2024 operating income of $455 million to $465 million, below the analyst projection of $469 million

American Eagle Outfitters stock is under pressure after its Q2 sales and 2024 profit outlook missed analyst projections.

American Eagle Outfitters Inc.'s stock fell about 7% in premarket trading on Thursday after the retailer's second-quarter revenue missed analyst expectations, and it warned its full-year profit will also fall short of Wall Street projections.

American Eagle Outfitters $(AEO)$ said it expects fiscal 2024 operating income of $465 million, below the FactSet consensus estimate of $469 million.

The Pittsburgh-based clothing-store chain said its second-quarter profit climbed to $77.26 million, or 39 cents a share, from $48.57 million, or 25 cents a share, in the year-ago quarter.

Analysts were expecting earnings of 38 cents a share.

Revenue rose to $1.29 billion from $1.2 billion, below the analyst estimate of $1.31 billion.

Prior to Thursday's trading, American Eagle Outfitters stock had risen 2.6% in 2024, compared to a 17.2% rise by the S&P 500.

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