American Airlines (NASDAQ:AAL) share prices move skyward Thursday, after the carrier posted a $10-million profit in the first quarter as it ramped up flying and a jump in revenue outpaced higher costs.
American’s revenue rose 37% in the first three months of the year to $12.19 billion, roughly in line with analyst estimates.
Adjusted earnings per share proved to be five cents, in line with what experts expected, on revenue of $12.19 billion vs. expected $12.20 billion
That revenue figure was 37% higher than the same period a year earlier. The carrier’s net income for the quarter of $10 million, or two cents per share, marks a drastic improvement from the first quarter of 2022 when American lost $1.64 billion, or $2.52 per share.
Excluding charges associated with debt refinancing, American earned an adjusted 5 cents per share during the first quarter, in line with analysts’ expectations.
For the second quarter of the year, American forecast adjusted per-share earnings of $1.20 to $1.40, at the high-end of analysts’ expectations.
The Fort Worth-based carrier expects revenue per available seat mile to come in 2% to 4% lower than last year on capacity up as much as 5.5%.
AAL shares acquired 60 cents, or 4.7%, to $13.34.
