American Airlines beats Q3 expectations

Investing.com -- American Airlines Group Inc. reported better-than-expected third-quarter results on Thursday, sending shares up 1.25% in early trading.

The airline posted adjusted earnings per share of $0.30, surpassing the analyst estimate of $0.16. Revenue for the quarter reached a record $13.6 billion, slightly above the consensus estimate of $13.52 billion and up 1.2% YoY.

American Airlines (NASDAQ:AAL ) now expects full-year 2024 adjusted earnings per share to be between $1.35 and $1.60, higher than the analyst consensus of $1.22.

"The American Airlines team continues to focus on running a reliable operation and managing costs across the airline," said CEO Robert Isom. He added that the company has taken "aggressive action" to reset its sales and distribution strategy and reengage business travelers.

The airline led U.S. network carriers in the third-quarter completion factor and achieved its highest third-quarter load factor since the 2013 merger with US Airways.

American Airlines continued to strengthen its balance sheet, reducing total debt by approximately $360 million in the third quarter. The company is on track to reduce total debt from peak levels by $15 billion by the end of 2025.

For the fourth quarter of 2024, American Airlines expects adjusted earnings per share to be between $0.25 and $0.50.

The company ended the quarter with $11.8 billion in total available liquidity, positioning it well to navigate future challenges in the aviation industry.

Source: Investing.com