earnings
confidence high
sentiment positive
materiality 0.75
AEO Q1 FY2024: record revenue $1.1B, operating profit $78M beats guidance
AMERICAN EAGLE OUTFITTERS INC
2024-Q1 EPS reported
$0.34
revenue$1,143,867,000
- Record Q1 revenue $1.1B (+6% YoY); Aerie revenue $373M (+4%) with comps up 6%; American Eagle revenue $725M (+8%) with comps up 7%.
- Operating income $78M vs $23M GAAP prior year (up 240% YoY); operating margin 6.8% expanded 270 bps.
- Diluted EPS $0.34; gross margin 40.6% expanded 240 bps driven by inventory management and lower costs.
- FY2024 operating income guidance reaffirmed $445-465M; Q2 operating income expected $95-100M.
- Repurchased 1.5M shares for ~$35M; paid quarterly dividend $0.125/share; ending inventory $681M up 9%.