AAL

American Airlines Q3 Adj. Earnings EPS Up 20% - Quick Facts

(RTTNews) - American Airlines Group Inc. (AAL) reported that its third-quarter earnings per share, excluding net special items, grew 20 percent year over year to $1.42. On average, 18 analysts polled by Thomson Reuters expected the company to report profit per share of $1.39, for the quarter. Analysts' estimates typically exclude special items.

American Airlines CEO Doug Parker said: "We know that our results should have been better. Our third quarter was impacted by the continued grounding of the Boeing 737 MAX and the operational challenges resulting from ongoing labor contract negotiations."

The company recorded a 3 percent year-over-year increase in total revenue to a record $11.91 billion. Analysts expected revenue of $11.93 billion, for the quarter. Driven by a 3 percentage point increase in total passenger load factor, passenger revenue per available seat mile (PRASM) grew 3 percent, for the quarter. Total revenue per available seat mile (TRASM) was 15.71 cents, an increase of 2 percent year over year.

American Airlines expects its 2019 earnings per share excluding net special items to be between $4.50 and $5.50. Analysts expect the company to report profit per share of $4.98. American projects fourth-quarter TRASM to be flat to up 2 percent year over year.

The company also declared a dividend of 10 cents per share to be paid Nov. 20 to stockholders of record as of Nov. 6, 2019.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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