American Airlines Cuts Q2 Adj. EPS Outlook; Stock Down

(RTTNews) - American Airlines Group Inc. (AAL) disclosed in a regulatory filing that it cut its second-quarter adjusted earnings per share outlook. In addition, Vasu Raja, Chief Commercial Officer of the company, will depart the Company in June 2024. Effective immediately, Stephen Johnson, Vice Chair and Chief Strategy Officer, will assume leadership of the commercial organization and help lead the search for a new Chief Commercial Officer.

AAL closed Tuesday's regular trading at $13.44 down $0.40 or 2.89%. In the after-hours trading, the stock further dropped $0.85 or 6.33%.

The company now expects second-quarter adjusted earnings per share to be between about $1.00 and $1.15 compared to the prior outlook of about $1.15 to $1.45 per share. Analysts polled by Thomson Reuters expect the company to report earnings of $1.30 per share for the second-quarter. Analysts' estimates typically exclude special items.

The company lowered its second-quarter guidance for adjusted operating margin by 1 percentage point, to between about 8.5% to 10.5%.

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