On February 7, 2024, an American Airlines Boeing 737 passenger plane arrived at New York’s John F. Kennedy International Airport from Austin, with the Manhattan skyline looming in the background.
Charlie Triballo | AFP | Getty Images
American airlines It posted a loss in the first quarter, but forecasts for the current period beat analysts’ expectations, sending shares up about 5%.
American Airlines expects second-quarter adjusted earnings per share in a range of $1.15 to $1.45, well above the $1.18 average estimate compiled by LSEG analysts. American Airlines reiterated its full-year profit forecast of $2.25 to $3.25 per share.
“While we are not satisfied with our first-quarter financial results, we have a solid foundation and remain on track to meet our full-year financial targets,” Chief Executive Robert Isom said in the earnings release.
This is how the Americans performed in the game Season one Compare that to Wall Street estimates compiled by London Stock Exchange Group (LSEG):
- Loss per share: Adjusted 34 cents, expected loss of 29 cents
- income: US$12.57 billion, expected US$12.6 billion
American Airlines lost $312 million, or 48 cents a share, in the first quarter, compared with a profit of $10 million, or 2 cents a share, a year earlier. After adjusting for one-time items, including costs related to new labor contracts, American lost $226 million, or 34 cents per share.
Operating expenses increased by nearly 7%, with wages and related costs increasing by 18%.
Revenue grew 3.1% to $12.57 billion.
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