American Eagle Sees Q3 Earnings Below Estimates; Shares Fall - Quick Facts

(RTTNews) - While reporting its second-quarter financial results today, apparel retailer American Eagle Outfitters Inc. (AEO) forecast third-quarter earnings below analysts' estimates. The company's shares are down almost 7 percent in pre-market activity.

Based on an anticipated comparable sales increase in the high-single digits and total revenue growth in the mid-single digits, reflecting the approximate $40 million revenue shift into the second quarter due to the shifted retail calendar, American Eagle forecast third-quarter 2018 earnings per share of about $0.45 to $0.47. This guidance excludes potential asset impairment and restructuring charges.

The year-ago quarter's reported earnings per share of $0.36 included approximately $0.01 per share of restructuring and related charges. Excluding these items, last year's third-quarter adjusted earnings per share was $0.37.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $0.49 per share for the third quarter. Analysts' estimates typically exclude special items.