American Airlines Group Inc.
AAL,
easily exceeded expectations with its latest results and offered a more upbeat profit outlook for the year, though its shares were moving about 2% lower in premarket action Thursday after the company posted its latest results. The company generated second-quarter net income of $1.3 billion, or $1.88 a share, up from $476 million, or 68 cents a share, in the year-earlier quarter. On an adjusted basis, American Airlines earned $1.92 a share, whereas the FactSet consensus was for $1.59 a share. Revenue jumped to $14.1 billion from $13.4 billion and easily topped the consensus view, which was for $13.7 billion. American Airlines now anticipates $3.00 a share to $3.75 a share in full-year adjusted earnings, while its prior forecast was for $2.50 a share to $3.50 a share. “Our operation is performing at historically strong levels,” Chief Executive Robert Isom said in a release. The company plans to “build on this momentum the rest of the year and continue to prioritize reliability, profitability, accountability and strengthening our balance sheet,” he added.
