American Airlines Boosts FY24 Outlook As Q3 Results Top Estimates

(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday a net loss for the third quarter of $149 million or $0.23 per share, sharply narrower than $545 million or $0.83 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $0.30 per share, compared to $0.38 per share in the year-ago quarter.

On average, 13 analysts polled by Thomson Reuters expected the company to report earnings of $0.16 per share for the quarter. Analysts' estimates typically exclude special items.

Operating revenues for the quarter grew 1.2 percent to $13.65 billion from $13.48 billion in the same quarter last year. Analysts expected revenues of $13.49 billion for the quarter.

Looking ahead, the company expects adjusted earnings for the fourth quarter in a range of $0.25 to $0.50 per share, while the Street is looking for $0.29 per share.

For fiscal 2024, the company now projects adjusted earnings to a range of $1.35 to $1.60 per share, up from the prior forecast range of $0.70 to $1.30 per share. Analysts expect annual earnings of $1.22 per share.

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