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- American Airlines Group Inc (NASDAQ:AAL) reported fourth-quarter FY22 operating revenue growth of 40% year-on-year to $13.18 billion, slightly missing the consensus of $13.20 billion.
- American's Q4 revenues increased 16.6% versus the same period in 2019 and represent the highest Q4 revenue in company history, driven by the continued strength of the demand environment.
- Passenger revenues rose 44.7% Y/Y to $12.13 billion, and cargo revenues declined 22.9% to $263 million.
- Adjusted EPS of $1.17 beat the consensus of $1.14.
- The airlines reported an operating income of $1.38 billion, compared to a loss of $(780) million a year ago, and the operating margin was 10.5%.
- Total operating expenses grew by 15.7% Y/Y to $11.8 billion.
- Passenger load factor was 83.9%, up from 80.2% in 4Q21. Revenue passenger miles increased 12.9% Y/Y, and ASM increased 7.9% Y/Y.
- Also Read: What's Going On With American Airlines Stock?
- Average aircraft fuel price per gallon, including related taxes, was $3.50 vs. $2.36 in 4Q21.
- American Airlines' net cash provided by operating activities for FY22 totaled $2.17 billion, compared to $704 million a year ago.
- American Airlines ended the quarter with $586 million in cash and equivalents and ended the year with $12 billion of available liquidity.
- The company said total debt reduction continues to be a top priority, and it is more than halfway to its goal of reducing total debt by $15 billion by the end of 2025.
- Guidance: American Airlines sees FY23 Adjusted EPS of $2.50 - $3.50 and FY23 ASM growth of 5% to 8%.
- It expects Q1 FY23 Adjusted EPS to breakeven and ASM growth of 8% to 10%
- Price Action: AAL shares traded higher by 1.91% at $16.57 on the last check Thursday.
- Photo Via Company
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
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