Categories AlphaGraphs, Earnings, Industrials, LATEST
American Airlines (AAL) slips to Q3 loss as revenues fall 73%; beats estimates
American Airlines Group Inc. (NASDAQ: AAL) reported a net loss for the third quarter of 2020, as record-low passenger traffic and widespread flight cancellations continued to impact operations. However, the results came in above the consensus estimates.
Third-quarter revenues plunged 73% annually to $3.17 billion but exceeded Wall Street’s prediction. The dismal top-line performance reflects a sharp fall in available seat miles.
The airline slipped to a loss of $5.54 per share in the September-quarter, on an adjusted basis, from earnings of $1.42 per share in the prior-year period. Analysts were looking for a wider loss. The reported net loss was $2.4 million or $4.71 per share, compared to a profit of $425 million or $0.96 per share in the third quarter of 2019.
Read management/analysts’ comments on American Airlines’ Q3 earnings
American Airlines’ shares dropped during Thursday’s premarket trading following the announcement, after closing the previous session slightly lower.
Looking for more insights on the earnings results? Click here to access the full transcripts of the latest earnings conference calls!
Most Popular
Tyson Foods (TSN) Q1 2023 Earnings: Key financials and quarterly highlights
Tyson Foods Inc. (NYSE: TSN) reported first quarter 2023 earnings results today. Sales rose 2.5% year-over-year to $13.2 billion. Net income attributable to Tyson was $316 million, or $0.88 per
After weak start to 2023, Apple (AAPL) sees some bright spots
Apple Inc. (NASDAQ: AAPL) this week reported its first revenue decline in more than three years, even as the high inflation continues to squeeze customers’ spending power. Sales of the
Earnings: Qualcomm (QCOM) Q1 profit falls on lower revenues
Chipmaker Qualcomm, Inc. (NASDAQ: QCOM) has reported lower earnings and revenues for the first quarter of 2023. The company also provided guidance for the second quarter of 2023. At $9.5
