American Airlines Q2 Results Top Estimates; Lifts FY Profit View

(RTTNews) - American Airlines Group Inc. (AAL) reported that its second quarter net income climbed to $1.34 billion or $1.88 per share from $476 million or $0.68 per share in the prior year.

"It was another fantastic quarter for American, driven by the hard work of our team to deliver a reliable operation for our customers and the continued strong demand for our product," said American's CEO Robert Isom.

Quarterly earnings per share, excluding net special items, were $1.92 compared to $0.76 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $1.58 per share for the second quarter. Analysts' estimates typically exclude special items.

Total operating revenues for the quarter rose to $14.06 billion from $13.42 billion in the prior year, driven by continued broad-based demand strength and American's completion factor performance in the quarter. Analysts expected revenue of $13.74 billion for the quarter.

The company expects its third-quarter 2023 adjusted earnings per share to be between $0.85 and $0.95. Analysts project third-quarter earnings of $0.90 per share.

American now expects its full-year 2023 adjusted earnings per share to be between $3.00 and $3.75. The company's forecasts include the estimated impact of anticipated new labor agreements. Analysts expect annual earnings of $3.08 per share.

The company said in May that it expected annual adjusted earnings per share to be between $2.50 and $3.50.

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