American Airlines beats Q2 estimates, hikes full-year guidance
By Alexander Bueso
Date: Thursday 20 Jul 2023
(Sharecast News) - American Airlines delivered better-than-expected second quarter earnings and hiked its full-year guidance on the back of a "strong" start to the travel season.
For the three months ending in June, the carrier posted net income, adjusted for the cost of airplanes retired early in the pandemic, of $1.37bn for earnings per share $1.92 and on sales of $14.06bn.
That compared with $476m or EPS of 68 US cents one year before.
Consensus had been for second quarter EPS of $1.59 and revenues of $13.74bn.
Guidance for full-year EPS was raised to $3.0-3.75, once adjusted for one-time items, against a prior forecast issued in May for $2.5-3.5.
Analysts had been anticipating full-year EPS of $3.10.
At 1300 BST, shares of American Airlines were slipping 1.61% to $18.30.
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