American forecasts second-quarter profit on soaring travel demand, stock surges 9%

Business News

In this article

American Airlines Boeing 787-9 Dreamliner takes off from Los Angeles international Airport on November 11, 2020 in Los Angeles, California.
AaronP | Bauer-Griffin | GC Images | Getty Images

American Airlines on Thursday forecast a second-quarter profit as strong travel demand helps it cover its soaring fuel costs.

American is the third major airline to report results. United Airlines said Wednesday it expects to return to a profit this year thanks to a surge in bookings and fares, echoing similar comments a week earlier from Delta Air Lines. United’s forecast sent airline stocks higher in after-hours trading Wednesday.

You Might Like

American shares surged after reporting results and were up more than 8% in premarket trading, up from a roughly 5% increase fueled by United’s results. United was also up 8%.

Here’s how American performed in the first quarter compared with what Wall Street expected, based on average estimates compiled by Refinitiv:

  • Adjusted earnings per share: a loss of $2.32 versus an expected loss of $2.40
  • Total revenue: $8.9 billion versus expected $8.826 billion.

American executives will hold a call with analysts and media to discuss results at 8:30 a.m.

This is breaking news. Check back for updates.

Articles You May Like

Left Wing Hack Stephen Colbert Defends Violent Antisemitic Campus Protests Because of Course He Does (VIDEO)
Robert DeNiro Is Doing Dramatic Readings of Trump’s Trial
‘Terrifying’ interrogation’: American faces 12 years in Turks and Caicos prison after 4 rounds of hunting ammo found in his luggage
California Takes the Lead in Illegal Migrant Apprehensions
CNN defends laugh of Kamala Harris by accusing anyone criticizing VP’s cackle is ‘playing into sexism’

Leave a Reply

Your email address will not be published. Required fields are marked *