American Airlines Posts Profit In Q1, Meets View; Sees Q2 Earnings Above Market; Backs FY23 Forecast

(RTTNews) - American Airlines Group Inc. (AAL) reported Thursday that its first-quarter net income was $10 million or $0.02 per share, compared to last year's loss of $1.64 billion or $2.52 per share.

First-quarter adjusted net income was $33 million or $0.05 per share, compared to loss of $1.51 billion or $2.32 per share a year ago.

On average, 15 analysts polled by Thomson Reuters expected earnings of $0.05 per share for the quarter. Analysts' estimates typically exclude special items.

Total operating revenues climbed 37 percent to $12.19 billion from last year's $9 billion. The Street was looking for revenues of $12.2 billion for the quarter.

The strong revenue performance was driven by the continued strength of the demand environment.

Looking ahead for the second quarter, based on demand trends and the current fuel price forecast, the company expects adjusted earnings per share to be between $1.20 and $1.40.

For fiscal 2023, American continues to expect adjusted earnings per share to be between $2.50 and $3.50.

Analysts were looking for earnings of $1.06 per share for the quarter and $2.35 per share for the year.

American's CEO Robert Isom said, "Looking ahead to the remainder of 2023, we remain focused on reliability, profitability, strengthening the balance sheet, and creating even more value..."

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