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American Airlines Q3 Results Top Estimates; Guides Q4 Adj. EPS Well Above View
(RTTNews) - American Airlines Group, Inc. (AAL) reported Thursday that net income for the third quarter soared to $483 million or $0.69 per share from $169 million or $0.25 per share in the prior-year quarter.
Excluding items, adjusted earnings for the quarter was $0.69 per share, compared to adjusted loss of $0.99 per share last year.
On average, 14 analysts polled by Thomson Reuters expected the company to report earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.
Operating revenues for the quarter surged 50.1 percent to $13.46 billion from $8.97 billion in the same quarter last year. It increased only 13 percent over the same period in 2019. Analysts expected revenues of $13.42 billion for the quarter.
Looking ahead, the company expects adjusted earnings for the fourth quarter in a range of $0.50 to $0.70 per share, while the Street is looking for $0.22 per share.
Based on current trends, the company also expects its fourth-quarter total revenue to be 11% to 13% higher versus the fourth quarter of 2019 on 5% to 7% lower capacity.
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