American Airlines beats Q2 estimates, hikes full-year guidance

(Sharecast News) - American Airlines delivered better-than-expected second quarter earnings and hiked its full-year guidance on the back of a "strong" start to the travel season. For the three months ending in June, the carrier posted net income, adjusted for the cost of airplanes retired early in the pandemic, of $1.37bn for earnings per share $1.92 and on sales of $14.06bn.

That compared with $476m or EPS of 68 US cents one year before.

Consensus had been for second quarter EPS of $1.59 and revenues of $13.74bn.

Guidance for full-year EPS was raised to $3.0-3.75, once adjusted for one-time items, against a prior forecast issued in May for $2.5-3.5.

Analysts had been anticipating full-year EPS of $3.10.

At 1300 BST, shares of American Airlines were slipping 1.61% to $18.30.