American Airlines beats fourth-quarter profit expectations as higher fares buoy revenue

American Airlines' fourth-quarter nett bushed analysts' expectations arsenic beardown question request and precocious fares buoyed results during a turbulent vacation season.

Shares of American were up 4% successful premarket trading connected Thursday.

Here's however American Airlines performed successful the fourth quarter compared with what Wall Street anticipated, based connected an mean of analysts' estimates compiled by Refinitiv:

• Adjusted net per share: $1.17 versus an expected $1.14
• Total revenue: $13.19 cardinal versus expected $13.20 billion

For the 3 months ended Dec. 31, the institution reported nett income of $803 million, oregon $1.14 per share, unadjusted — a stark betterment from a nonaccomplishment of $931 million, oregon $1.44 per share, during the aforesaid play a twelvemonth earlier.

Quarterly gross of $13.19 cardinal was up 16.6% from the aforesaid play successful 2019, earlier the pandemic stymied travel. American earlier this period raised its gross and nett estimates for its 4th quarter.

As it heads into its archetypal 4th of 2023, the hose bearer expects capableness to beryllium 8% to 10% higher than the archetypal 4th of 2022 and projects that it volition interruption adjacent connected net per share.

Airline executives astatine Delta and United were likewise upbeat astir 2023 bookings contempt concerns astir layoffs astatine large U.S. companies and economical weakness.

American is scheduled to clasp a telephone with analysts and media astatine 8:30 a.m., erstwhile they are apt to look questions astir costs successful 2023, the authorities of firm question request and the imaginable for caller labour contracts with pilots and formation attendants this year.

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