AMERICAN EAGLE OUTFITTERS INC Earnings Per Share Disclosure
5. Earnings per Share ("EPS")
Net income per basic and diluted share attributable to AEO is computed based on the weighted average number of outstanding shares of common stock. The following is a reconciliation between basic and diluted weighted average shares outstanding:
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Fiscal Years Ending |
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January 31, |
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February 1, |
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February 3, |
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(In thousands) |
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2026 |
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2025 |
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2024 |
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Numerator: |
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Net income attributable to AEO and numerator for basic EPS |
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$ |
191,983 |
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$ |
329,380 |
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$ |
170,038 |
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Add: Interest expense, net of tax, related to the 2025 Notes (1) |
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— |
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— |
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58 |
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Numerator for diluted EPS |
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$ |
191,983 |
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$ |
329,380 |
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$ |
170,096 |
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Denominator: |
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Denominator for basic EPS - weighted average shares |
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172,165 |
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193,056 |
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195,646 |
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Add: Dilutive effect of the 2025 Notes (1) |
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— |
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— |
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205 |
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Add: Dilutive effect of stock options and non-vested restricted stock |
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3,976 |
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3,356 |
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1,012 |
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Denominator for diluted EPS - adjusted weighted average shares |
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176,141 |
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196,412 |
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196,863 |
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Anti-dilutive shares (2) |
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3,128 |
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500 |
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1,289 |
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Refer to Note 2, Summary of Significant Accounting Policies, and Note 11, Share-Based Payments, to the Consolidated Financial Statements for additional information regarding the 2025 Notes and share-based compensation, respectively.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Mar 30, 2026 | Showing above |
| 2025 | Mar 20, 2025 | |
| 2024 | Mar 15, 2024 | |
| 2023 | Mar 13, 2023 | |
| 2022 | Mar 14, 2022 | |
| 2021 | Mar 11, 2021 | |
| 2020 | Mar 12, 2020 | |
| 2019 | Mar 14, 2019 | |
| 2018 | Mar 16, 2018 | |
| 2017 | Mar 10, 2017 | |
| 2016 | Mar 10, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.