Boeing 787-9 Dreamliner, from American Airlines company, taking off from Barcelona airport, in Barcelona on 24th February 2023.
JanValls | Nurphoto | Getty Images
American Airlines posted a third-quarter loss on Thursday and trimmed its profit forecast for the year, partly in response to higher fuel prices.
The carrier said Thursday it expects to earn between $2.25 and $2.50 a share, on an adjusted basis, for the year, down from an estimate in July of $3 to $3.75 but largely in line with analyst expectations. American said it expects a full-year adjusted operating margin of 7%, down from a previous forecast for as wide a margin as 10%.
Here’s how American Airlines performed in the third quarter compared with what Wall Street anticipated, based on an average of analysts’ estimates compiled by LSEG, formerly known as Refinitiv:
- Adjusted earnings per share: 38 cents vs. 25 cents expected
- Total revenue: $13.48 billion vs. expected $ 13.52 billion
The company lost $545 million, or 83 cents per share, down from a profit of $483 million, or 69 cents per share during the same period a year earlier. Adjusting for higher costs associated with a pilots’ labor agreement, the company reported earnings of $263 million, or 38 cents per share.
American will hold a call with analysts and media at 8:30 a.m. on Thursday.
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