American Airlines Group Inc (NASDAQ:AAL) exceeded Q4 2023 earnings expectations with a 75% drop in adjusted earnings to $0.29 per share, surpassing the $0.10 consensus. Revenue fell 1% to $13.06 billion, slightly above the $13.02 billion estimate. The company forecasts a Q1 2024 adjusted loss per share of ($0.15)-($0.35), compared to the consensus of $(0.17), and full-year 2024 earnings of $2.25-$3.25 per share, in line with expectations. Capacity is expected to increase 6.5%-8.5% Y/Y in Q1 and mid-single digits for the full year. Following the report, AAL shares dropped 1.1%. Analysts from TD Cowen, JP Morgan, Barclays, and Seaport Global adjusted their price targets and ratings, with upgrades from TD Cowen and Seaport Global.