American Airways raises earnings outlook on robust demand and cheaper gas
An American Airlines aircraft takes off from Miami International Airport on May 2, 2023 in Miami, Florida.
Joe Raedle | Getty Images
American Airlines The company raised its adjusted second-quarter earnings outlook due to strong travel demand and lower fuel prices.
Adjusted earnings per share are expected to be in the range of $1.45 to $1.65 on Wednesday, up from a previous forecast of $1.20 to $1.40 per share, the Americans estimated. The Fort Worth, Texas-based airline said it now expects unit earnings for the three months ended June 30 to be 1% to 3% lower than 4% for the same period last year.
American shares are up nearly 2% in morning trade S&P 500 was below.
American Airlines CEO Robert Isom is scheduled to speak at the Bernstein Strategic Decisions Conference Wednesday at 4:30 p.m. ET.
He is likely to have questions about a new temporary pilot employment contract and whether the airline will appeal a federal judge’s ruling this month that nullified Americans in the Northeast’s partnership with Canada JetBlue Airways.
The airline is expected to report its second quarter results at the end of July.