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American Airlines dials back profit guidance despite Q2 beat
(Sharecast News) - American Airlines dialled back profit guidance on Thursday despite beating on both the top and bottom lines with its Q2 trading performance. American Airlines guided to a FY25 adjusted loss per-share of as much as $0.20 or earnings of as much as $0.80, down from previous estimates of adjusted earnings between $1.70 and $2.70 per share made back in January.
As far as Q3 was concerned, American now expects to report an adjusted per-share loss of $0.10 to $0.60.
For the three months ended 30 June, American said passenger revenue per available domestic seat mile was down more than 6%, while it was up nearly 3% for international as Americans continued to flock to the likes of Japan and Italy.
Q2 revenue rose 0.4% to $14.39bn, ahead of expectations, while net income dropped 16.5% to $599.0m, or $0.91 per share. Adjusting for one-time items, American reported earnings of $628.0m, well ahead of expectations on the Street.
As of 1540 BST, American Airlines shares were down 7.93% at $11.68 each.
Reporting by Iain Gilbert at Sharecast.com
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