Categories AlphaGraphs, Earnings, Industrials
AAL Earnings: Everything you need to know about American Airlines Q1 2020 results
The company suspends capital return program, in accordance with the CARES Act
American Airlines Group (NASDAQ: AAL) today reported its first quarter financial results for the period ended March 31, 2020.
Net loss was $2.2 billion, or ($5.26) per share, compared to net income $185 million or $0.41 per share in the first quarter of 2019.
Total operating revenues declined 19.6% to $8.51 billion.
Never before has our airline, or our industry, faced such a significant challenge.
– Doug Parker, Chairman and CEODuring the quarter, AAL repurchased 6.4 million shares of its common stock for $145 million and paid dividends of $43 million.
The company expects average cash burn rate for second quarter 2020 to be approximately $70 million per day.
While the length and severity of the reduction in demand due to COVID-19 is uncertain, we presently expect the deterioration to increase in the second quarter of 2020 and our results of operations for the remainder of 2020 to be severely impacted.
– AAL’s recent SEC Filing
You may also like:
Will the Airline Industry Evolve or Die After the Black Swan-ish Disruption?
Is the airline industry staring at an evolutionary cycle after the Coronavirus-induced Pandemic that has no parallels in the past? What was the thought process of top airline executives as Covid-19 unfolded? Were they prepared? What lies ahead? We try to find out from the treasure trove of Earnings Transcripts & Press Releases.
Most Popular
BLK Q4 Preview: BlackRock appears poised for another earnings beat
BlackRock, Inc. (NYSE: BLK), the largest asset management company, is expected to publish its fourth-quarter 2025 results next week. The update is expected to shed light on how the firm’s
A look at Best Buy’s (BBY) progress on its growth strategy
Shares of Best Buy Co., Inc. (NYSE: BBY) fell over 3% on Wednesday. The stock has dropped 17% over the past 12 months. The consumer electronics retailer delivered sales and
Citigroup set to report Q4 2025 earnings. Here’s what to expect
Citigroup Inc. (NYSE: C) has undergone a sweeping transformation in recent years, emerging as a more streamlined and profitable financial institution. The bank's performance in recent quarters has underscored the
