American Airlines Group Inc (NASDAQ:AAL) shares are trading higher Thursday after the company announced better-than-expected first-quarter financial results and guided for a return to profitability in the second quarter.
American reported first-quarter revenue of $8.9 billion, which beat the $8.83 billion estimate, according to data from Benzinga Pro. The company reported a quarterly earnings loss of $2.32 per share, which beat the estimate for a loss of $2.40 per share.
American said it was profitable in the first quarter excluding net special items. The company expects to return to profitability in the second quarter. Based on current trends, American expects second-quarter capacity to be approximately 92% to 94% of what it was in 2019 (pre-pandemic).
American said it expects second-quarter revenue to be 6% to 8% higher compared to the second quarter of 2019.
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AAL 52-Week Range: $12.44 - $26.04
The stock was up 9.6% at $21.37 at press time.
Photo: courtesy of American Airlines.
