American Airlines Q2 Results Exceed Expectations, Raises FY23 Outlook
Portfolio Pulse from Akanksha Bakshi
American Airlines Group Inc (NASDAQ:AAL) reported Q2 FY23 operating revenue growth of 4.7% YoY to $14.10 billion, beating the consensus of $13.74 billion. The company's Q1 adjusted EPS of $1.92 also exceeded the consensus of $1.58. Despite a decline in cargo revenues, passenger revenues rose 6.2% YoY to $12.98 billion. Operating expenses for the quarter declined by 4.1% YoY to $11.89 billion. The company raised its FY23 adjusted EPS outlook to $3.00-$3.75 from the prior view of $2.50-$3.50. However, AAL shares traded lower by 1.61% at $18.30 premarket on Thursday.
July 20, 2023 | 12:57 pm
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American Airlines reported strong Q2 FY23 results, beating revenue and EPS estimates and raising its FY23 outlook. Despite this, AAL shares traded lower in premarket trading.
American Airlines reported strong Q2 FY23 results, with revenue and EPS beating estimates and the company raising its FY23 outlook. This positive news would typically be expected to boost the company's stock price. However, AAL shares traded lower in premarket trading, suggesting that the market may have already priced in the positive earnings news or that there are other factors at play affecting the stock's price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100