An American Airlines Boeing 787-9 Dreamliner approaches for a landing on the Miami International Airport on Dec. 10, 2021.
Joe Raedle | Getty Images
American Airlines posted a $10 million profit in the primary quarter because it ramped up flying and a jump in revenue outpaced higher costs.
American’s revenue rose 37% in the primary three months of the 12 months to $12.19 billion, roughly in keeping with analyst estimates.
Here’s how American Airlines performed within the first quarter compared with what Wall Street anticipated, based on a median of analysts’ estimates compiled by Refinitiv:
- Adjusted earnings per share: 5 cents vs. expected 5 cents
- Total revenue: $12.19 billion vs. expected $12.20 billion
Revenue of $12.19 billion was 37% higher than the identical period a 12 months earlier. The carrier’s net income for the quarter of $10 million, or 2 cents per share, marks a drastic improvement from the primary quarter of 2022 when American lost $1.64 billion, or $2.52 per share.
Excluding charges related to debt refinancing, American earned an adjusted 5 cents per share through the first quarter, in keeping with analysts’ expectations.
For the second quarter of the 12 months, American forecast adjusted per-share earnings of $1.20 to $1.40, on the high end of analysts’ expectations.
The Fort Price-based carrier expects revenue per available seat mile to are available in 2% to 4% lower than last 12 months on capability up as much as 5.5%.
American CEO Robert Isom said late aircraft deliveries from manufacturers are hindering the carrier’s growth.
“By way of the aircraft manufacturers, each Boeing and Airbus, they should do a greater job,” Isom said in an interview with CNBC’s “Squawk Box” on Thursday. “Once we don’t receive a delivery on time, guess what? We’re going out and having to cancel flights. That affects 1000’s of consumers.”
“We have got to carry them accountable,” Isom said.
