American Airlines Group Inc AAL shares are volatile Thursday morning after the airline reported fourth-quarter earnings results.
What Happened: American Airlines reported fourth-quarter revenue of $13.2 billion, which was in line with average analyst estimates, according to Benzinga Pro. The company said quarterly revenues were up 16.6% compared to the fourth quarter of 2019 despite flying at 6.1% less capacity, driven by the continued strength of the demand environment.
American reported fourth-quarter earnings of $1.17 per share, which beat average estimates of $1.14 per share.
"We committed to running a reliable operation and returning to profitability, and our team is delivering on both. We're proud to have led the industry in operational performance over the holidays," said Robert Isom, CEO of American Airlines.
"As we turn our attention to 2023, we will continue to prioritize reliability, profitability and debt reduction."
American said it expects first-quarter earnings to be approximately flat. Full-year 2023 adjusted earnings are expected to be in a range of $2.50 to $3.50 per share.
American said it ended the quarter with $12 billion of total available liquidity. The company continues to execute on its plan of paying down $15 billion in debt by the end of 2025.
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AAL Price Action: American has a 52-week high of $21.42 and a 52-week low of $11.65.
The stock was up 1.48% at $16.50 at time of publication, according to Benzinga Pro.
Photo: courtesy of American Airlines.
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