AEO's FQ4 2021 earnings per share is expected to be $0.39 per Trefis analysis, marginally beating the consensus estimate of $0.36. In Q4, American Eagle expects Q4 adjusted operating income to be around $95 million, up from just $77 million in the prior-year quarter, driven by lower advertising costs and higher selling prices. While we expect the company earnings per share to come at a loss in fiscal 2020 (due to a weak fiscal first half), the reorganization of its brick-and-mortar network and ambitious growth strategy for the Aerie brand should help the company optimize its profitability going forward.