American Eagle Outfitters (AEO) Q2 FY2026 earnings: revenue $1.4 billion, up 7.5% on the year

American Eagle Outfitters Inc. (AEO) reported revenue of $1.4 billion for Q2 FY2026, the quarter ended 1 August 2026, up 7.5% on the same quarter a year earlier. Net income was $134 million, up 72.7% on the year, and diluted earnings per share $0.79. The figures are the company's own, from the 10-Q it filed with the SEC on 10 September 2026.

Revenue$1.4 billionup 7.5%

Net income$134 millionup 72.7%

Diluted EPS$0.79

QuarterQ2 FY2026ended 1 August 2026

What management said

Guidance figures: 1 raised, 1 new, 1 kept.

Record revenue increases to $1.4 billion: Total net revenue of $1.38 billion increased 8% year-over-year. Total comparable sales rose 6%, reflecting broad-based momentum across the AEO Inc. portfolio of brands.
Aerie and OFFLINE revenue grew 25%: Aerie and OFFLINE combined revenue grew 25%, with Aerie revenue reaching $536 million versus $429 million prior year. Aerie comparable sales increased 19%, outpacing the company portfolio.
Gross profit increased 34% to $672 million: Gross profit rose to $672 million from $500 million prior year, with gross margin expanding 980 basis points to 48.7%. The margin expansion included 1,300 basis points benefit from tariff refunds.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Revenue	1,380	1,195	1,284	+7.5%
Cost of revenue	708	739	784	-9.6%
Gross profit	672	456	500	+34.4%
Gross margin	48.7%	38.2%	38.9%
Selling, general and administrative	408	376	342	+19.3%
Operating income	211	28.2	103	+105.1%
Operating margin	15.3%	2.4%	8.0%
Pre-tax income	178	27.6	101	+77.1%
Income tax	44.4	4.7	23.7	+87.2%
Effective tax rate	24.9%	16.9%	23.6%
Net income	134	23.5	77.6	+72.7%
Net margin	9.7%	2.0%	6.0%
Diluted EPS	$0.79	$0.14	$0.45	+75.6%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed.

Cash flow and capital returned

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Operating cash flow	182	-65.2	27.8	+552.7%
Capital expenditure	66.2	61.4	71.0	-6.7%
Free cash flow	115	-127	-43.1	n/a
Free cash flow margin	8.4%	-10.6%	-3.4%
Cash from investing	-66.4	-61.9	-62.3	n/a
Cash from financing	-70.7	-8.6	71.4	n/a
Depreciation and amortisation	52.3	51.5	54.7	-4.3%
Share-based compensation	6.8	22.1	6.5	+4.6%
Buybacks	0.0	53.5	0.0	n/a
Dividends paid	21.0	20.9	21.2	-1.0%
Dividend per share	$0.12	$0.12	$0.12	+0.0%
Diluted shares, weighted	170m	172m	172m	-0.9%
Shares outstanding at period end	168m	168m	169m	-1.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q2 FY2026	Q1 FY2026	Q2 FY2025	Change on the year
Shareholders' equity	1,764	1,645	1,545	+14.2%
Non-controlling interest	-1.5	-1.1	3.3	n/a
Debt	55.0	85.0	203	-72.9%
Operating lease liabilities	1,557	1,479	1,473	+5.7%
Other liabilities	905	873	837	+8.1%
Total liabilities and equity	4,279	4,081	4,061	+5.4%
Fixed assets	815	795	774	+5.3%
Goodwill	225	225	225	-0.0%
Intangible assets	36.0	36.9	40.7	-11.6%
Cash and equivalents	148	103	127	+16.7%
Receivables	245	201	237	+3.3%
Inventory	818	817	718	+13.9%
Other assets	1,992	1,903	1,939	+2.7%
Total assets	4,279	4,081	4,061	+5.4%

Questions

What was American Eagle Outfitters' revenue in Q2 FY2026?

American Eagle Outfitters (AEO) reported revenue of $1.4 billion for Q2 FY2026, the quarter ended 1 August 2026, up 7.5% on the same quarter a year earlier.

How much did American Eagle Outfitters earn in Q2 FY2026?

Net income for Q2 FY2026 was $134 million, up 72.7% on the year, and diluted earnings per share $0.79.

When did American Eagle Outfitters report Q2 FY2026 results?

American Eagle Outfitters filed its 10-Q for the quarter ended 1 August 2026 with the SEC on 10 September 2026.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025 †	Q2 FY2025 †	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	1,301	1,679	1,144	1,291	1,289	1,605	1,090	1,284	1,363	1,811	1,195	1,380
Cost of revenue	757	1,064	680	792	762	1,005	767	784	811	1,160	739	708
Gross profit	544	615	464	499	527	599	322	500	552	651	456	672
Gross margin	42%	37%	41%	39%	41%	37%	30%	39%	40%	36%	38%	49%
SG&A	362	427	333	345	351	402	339	342	386	418	376	408
Operating income	125	9.2	77.8	101	106	142	-85.2	103	113	95.7	28.2	211
Operating margin	10%	1%	7%	8%	8%	9%	-8%	8%	8%	5%	2%	15%
Pre-tax income	132	15.7	82.7	104	108	148	-85.1	101	125	108	27.6	178
Tax rate	27%	60%	18%	25%	26%	29%	n/a	24%	27%	25%	17%	25%
Net income	96.7	6.3	67.8	77.3	80.0	104	-64.9	77.6	91.3	87.9	23.5	134
Net margin	7%	0%	6%	6%	6%	7%	-6%	6%	7%	5%	2%	10%
Diluted EPS	$0.49	$0.03	$0.34	$0.39	$0.41	$0.54	-$0.36	$0.45	$0.53	$0.47	$0.14	$0.79
Operating cash flow	136	296	-38.1	78.3	52.9	384	-54.7	27.8	67.1	416	-65.2	182
Capital expenditure	43.0	39.5	36.2	60.7	60.7	64.9	61.6	71.0	69.7	58.6	61.4	66.2
Free cash flow	93.5	257	-74.3	17.5	-7.8	319	-116	-43.1	-2.5	357	-127	115
Buybacks	n/a	n/a	34.9	96.0	0.0	60.0	31.3	0.0	0.0	25.6	53.5	0.0
Dividends paid	19.8	24.7	24.6	24.0	24.0	23.8	21.7	21.2	21.2	21.2	20.9	21.0
Shares outstanding	198m	197m	196m	192m	192m	189m	173m	169m	170m	169m	168m	168m
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-Q for the period ended 1 August 2026, filed 10 September 2026, accession 0001193125-26-387856: the filing on EDGAR. All of American Eagle Outfitters Inc.'s filings: EDGAR company page.

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