- Joe Breitfeller
American Airlines Reports Fourth Quarter Net Income of $803 Million or $1.14 per Diluted Share
American Airlines has reported a fourth quarter net income of $803 million or $1.14 per diluted share on a record 16.6 percent increase in revenue versus Q4 2019 to $13.2 billion. For the full year, the carrier reported a net income of $127 million or $0.19/share.
On Thursday (January 26, 2023), American Airlines reported their financial results for the fourth quarter and full year for the period ending December 31, 2022. The carrier reported a fourth quarter net income of $803 million or $1.14 per diluted share on a record increase in revenue of 16.6 percent versus Q4 2019 to $13.2 billion. For the full year, American reported a net income of $127 million or $0.19 per diluted share on record revenue of $49.0 billion. Excluding net special items, the company’s fourth quarter and full year net income was $827 million and $328 million, or $1.17 per diluted share and $0.50 per diluted share, respectively. At December 31, 2022, American Airlines had $12.0 billion in total available liquidity, including cash, short-term investments and undrawn revolving and other credit facilities.
In Thursday’s announcement, American Airlines’ CEO, Robert Isom, said,
“The American Airlines team has produced outstanding results over the past year. We committed to running a reliable operation and returning to profitability, and our team is delivering on both. We’re proud to have led the industry in operational performance over the holidays while producing record full-year and fourth-quarter revenues, resulting in a third consecutive quarterly profit and a profit for the full year. As we turn our attention to 2023, we will continue to prioritize reliability, profitability and debt reduction.”
During the fourth quarter, American made approximately $539 million in debt and lease finance payments, and also pre-paid a $1.2 billion term loan. Total debt reduction remains a top priority for the company, and American is more than halfway to their goal of reducing debt by $15 billion by the end of 2025. As of December 31, 2022, American had reduced their total debt by $8.0 billion from peak levels in Q2 2021.
American Airlines’ purpose is to “Care for People on Life’s Journey.” Shares in the American Airlines Group, Inc., trade on NASDAQ under the ticker symbol AAL and the company’s stock is included in the S&P 500.
Source: American Airlines