American Eagle Outfitters Lifts FY23 Financial Targets

American Eagle Outfitters Inc AEO expects fourth-quarter FY21 revenue with growth in the mid-to-high teens compared to Q4 FY20 and up in the mid-teens from Q4 FY19.
The company expects a Q4 operating income of $90 million - $100 million, including $80 million in higher freight costs due to supply chain disruptions.
American Eagle Outfitters said it is on track to achieve $600 million in operating income in 2021, surpassing 2023 operating income and margin goals two years ahead of schedule.
For FY23, American Eagle anticipates a revenue of $5.8 billion (previously $5.5 billion). The company sees an FY23 operating income of $800 million (prior view $550 million) and an operating margin of 13.5% (previous view 10.0%).
Price Action: AEO shares are trading higher by 2.72% at $24.15 on the last check Tuesday.

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