share_log

American Airlines reports fourth-quarter and full-year 2023 financial results

moomoo News ·  Jan 25 07:09

FORT WORTH, Texas, Jan. 25, 2024 (GLOBE NEWSWIRE) -- American Airlines Group Inc. (NASDAQ: AAL) today reported its fourth-quarter and full-year 2023 financial results, including:

  • Record full-year revenue of approximately $53 billion.

  • GAAP fourth-quarter and full-year net income of $19 million and $822 million, or $0.03 and $1.21 per diluted share, respectively.

  • Excluding net special items, fourth-quarter and full-year net income of $192 million and $1.9 billion, or $0.29 and $2.65 per diluted share, respectively.

  • Achieved best-ever fourth-quarter and full-year completion factor.

  • Generated GAAP operating cash flow of $3.8 billion and the airline’s highest full-year free cash flow of $1.8 billion.

  • Reduced total debt by $3.2 billion in 2023. The company is more than 75% of the way to its 2025 total debt reduction goal.

Guidance and investor update

Based on present demand trends and the current fuel price forecast and excluding the impact of special items, the company expects its first-quarter 2024 adjusted loss per diluted share to be between ($0.15) and ($0.35). American expects its full-year 2024 adjusted earnings per diluted share to be between $2.25 and $3.25.

Source: American Airlines reports fourth-quarter and full-year 2023 financial results

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more
    Write a comment