An American Airlines Boeing 737 passenger plane arrives from Austin at JFK International Airport in Up-to-date York, with the Manhattan skyline in the background, February 7, 2024.
Charly Triballeau | Af | Getty Images
American airlines reported a first-quarter loss, but the current-period forecast beat analyst estimates, sending the stock up about 5%.
American expects to earn between $1.15 and $1.45 per share on an adjusted basis in the second quarter, well above LSEG analysts’ average estimate of $1.18. American maintained its earnings forecast of $2.25 to $3.25 per share for the full year.
“While we are not satisfied with our first quarter financial results, we have a powerful foundation and remain on track to achieve our full-year financial goals,” CEO Robert Isom said in the earnings release.
Here’s how the American performed in The first quarter compared to Wall Street estimates from LSEG:
- Loss per share: Adjusted 34 cents against an expected loss of 29 cents
- Income: $12.57 billion against the expected $12.60 billion
American reported a first-quarter loss of $312 million, or 48 cents a share, compared with a profit of $10 million, or 2 cents a share, in the same period a year earlier. After accounting for one-time items, including costs related to fresh employment contracts, American lost $226 million, or 34 cents per share.
Operating costs increased by almost 7%, including salary and related costs by 18%.
Revenue rose 3.1% to $12.57 billion.
