A Boeing 737 passenger aircraft of American Airlines arrives from Austin at JFK International Airport in New York as the Manhattan skyline looms in the background on February 7, 2024.
Charly Triballeau | Afp | Getty Images
American Airlines swung to a loss in the first quarter but its forecast for the current period surpassed analysts’ estimates, sending shares roughly 4% higher.
American expects to earn between $1.15 and $1.45 per share in the second quarter, on an adjusted basis, largely above the $1.18 analysts compiled by LSEG estimated on average. American reiterated its forecast to earn between $2.25 and $3.25 per share for the full year.
“While we aren’t satisfied with our first-quarter financial results, we have a strong foundation in place, and we remain on track to deliver on our full-year financial targets,” CEO Robert Isom said in an earnings release.
Here’s how American performed in the first quarter compared with Wall Street estimates compiled by LSEG:
- Loss per share: 34 cents adjusted vs. loss of 29 cents expected
- Revenue: $12.57 billion vs. $12.60 billion expected
American posted a loss of $312 million, or 48 cents per share, in the first quarter, compared with a profit of $10 million, or 2 cents per share, the same period a year earlier.
Revenue rose 3.1% to $12.57 billion.
This is breaking news. Check back for updates.
