American Airlines Raises Q2 Profit Guidance Citing Stronger Demand

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American Airlines Group Inc AAL updated its financial and operational guidance for 2Q23.
AAL now expects Adjusted EPS of $1.45-$1.65 (prior view of $1.20-$1.40) versus consensus of $1.31.
It expects an adjusted operating margin of ~12.5%-14.5%, compared to the prior expectation of ~ 11%-13%.
TRASM is now expected to be between -1% to -3%, compared to prior ~ -2% to -4%.
Also Read: American Airlines Claims No Earnings Impact From Northeast Alliance Verdict: Report
The company stated that the improvement in unit revenue versus prior guidance is driven by continued strength in the demand environment. AAL now expects to pay an average of between $2.55 to $2.65 per gallon of jet fuel in Q2 (prior $2.65 to $2.75).
There was no change in guidance for Q2 Available seat miles of ~ +3.5% to +5.5% YoY, and CASM-ex of ~ +3.5% to +5.5%.
The airline reported first-quarter FY23 operating revenue growth of 37% year-over-year to $12.19 billion and adjusted EPS of $0.05.
The company reported no change to the FY23 Adjusted EPS outlook of ~ $2.50 to $3.50 versus the consensus of $2.78.
Price Action: AAL shares are trading higher by 0.79% at $14.73 on the last check Wednesday.

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