American Airlines (NASDAQ:AAL) reported its third-quarter results, revealing adjusted earnings per share (EPS) of 38 cents. The figure exceeded the average analyst estimate of 32 cents.
The company's adjusted net income for the quarter was $263 million, representing a 45% decrease year-over-year. Revenue for the quarter came in at $13.48 billion versus the consensus estimate of $13.53 billion.
“The American Airlines team continues to produce strong results,” said American’s CEO Robert Isom.
“Our team is delivering record-setting reliability and operational performance. We are executing on our plans and remain well-positioned for the future, supported by the strength of our network, our young and modern fleet, and our outstanding team.”
Passenger revenue amounted to $12.42B, up 0.2% compared to the previous year. Key operational metrics included available seat miles at 73.29B, a 6.9% increase from the prior year, and revenue passenger miles at 61.56B, reflecting a 5.2% growth year-over-year.
The load factor, which indicates the percentage of available seats filled with passengers, stood at 84%, down from 85.3% in the same quarter of the previous year. Passenger yield was reported at +20.18 cents, marking a 4.8% decline year-over-year.
Looking ahead, American Airlines anticipates full-year adjusted EPS to fall in the range of $2.25 to $2.50. This projection is lower than the initial guidance, which was in the range of $3 to $3.75. Analysts had estimated full-year adjusted EPS at $2.34.
AAL shares were flat in early trading on Thursday.