- American Airlines Group Inc AAL reported a second-quarter FY22 operating revenue growth of 79.5% year-over-year to $13.42 billion, beating the consensus of $13.41 billion.
- The revenue represents a 12.2% increase from the comparable period revenue in 2019.
- Passenger revenues rose 86.8% Y/Y to $12.22 billion, and cargo revenues were nearly flat at $328 million.
- Adjusted EPS was $0.76 compared to $(1.69) in 2Q21, below the consensus of $0.77.
- The airlines reported an operating income of $1.02 billion, compared to $441 million a year ago, and the margin expanded by 168 bps to 7.6%.
- Total operating expenses grew by 76.3% Y/Y to $12.41 billion.
- The passenger load factor was 86.9%, up from 77% in 2Q21. Revenue passenger miles increased 36.9% Y/Y, and ASM increased 21.3% Y/Y.
- The average aircraft fuel price per gallon, including related taxes, was $4.03 vs. $1.91 in 2Q21.
- American Airlines' net cash provided by operating activities year-to-date totaled $2.92 billion, compared to $3.64 billion a year ago.
- American Airlines ended the quarter with $15.6 billion of total available liquidity. It held $537 million in cash.
- To date, American has reduced its overall debt by $5.2 billion and remains on track to reduce overall debt levels by $15 billion by the end of 2025.
- AAL and its regional partners operated more than 500,000 flights in the quarter, an 8% increase over 2Q21.
- 3Q22 Guidance: Based on current trends, AAL expects Q3 total revenue to be 10% to 12% higher versus the third quarter of 2019 on 8% to 10% lower capacity. The company expects to be profitable in Q3.
- The consensus for Q3 is $13.40 billion revenue and $0.74 EPS.
- Price Action: AAL shares traded lower by 7.17% at $14.12 during the market session on Thursday.
- Photo Via Wikimedia
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
