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American Airlines Reports Record Third Quarter Revenue of $11.9B, Net Income of $425M

Updated: Jan 11, 2020

On Thursday, the American Airlines Group reported record Q3 revenue of $11.9B, net income of $425M and third quarter earnings per diluted share of $0.96.

American Airlines B737 Tailfin - Courtesy American Airlines

This morning the American Airlines Group (NASDAQ: AAL) reported a record third quarter revenue of $11.9B, with pre-tax income of $557M and net income of $425M. Earnings per share (EPS) came in at $0.96 per diluted share and excluding “net special items” grew 20% year over year to $1.42. Total revenue per available seat mile (TRASM) grew 2% to 15.71 cents versus Q3 2018, marking the twelfth consecutive quarter of TRASM growth. During the third quarter American Airlines also returned $244M to shareholders in the way of share repurchases and dividends. In the company news release, American Airlines’ Chairman and CEO, Doug Parker stated,

We are pleased to report an earnings increase of 15% and earnings per share growth of 20% for the third quarter, excluding net special items. However, 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. These challenges affected our customers, our shareholders and our team members, who we thank for their hard work and perseverance. We are taking decisive action to correct this performance and are excited about our prospects for 2020 and beyond. As we look forward, we are committed to restoring operational excellence, growing efficiently and profitably, and generating significant free cash flow for our investors.”

In the third quarter, American Airlines increased their load factor by 3% and passenger revenue per available seat mile (PRASM) grew 3% to 14.50 cents. Third quarter operating expenses increased 2% to $11.1B and cost per available seat mile (CASM) increased 5% to 11.07 cents. For the fourth quarter, American Airlines expects TRASM to come in from flat to up 2% year over year and expects a pre-tax margin (excluding net special items) of 5-7%. Total diluted EPS for 2019 is expected to be in the range from $4.50-$5.50, excluding net special items. American Airlines Group (NASDAQ: AAL) shares were trading around 3% higher Thursday morning at $29.23 (10:37 AM EDT).

Source: American Airlines



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