American Airlines (NASDAQ:AAL) earnings for the airline company’s second quarter of 2020 have AAL stock looking up on Thursday. That’s despite its adjusted losses per share of $7.82 missing Wall Street’s estimate for a loss of $7.70. Luckily, its revenue of $1.62 billion blows past analysts’ estimates of $1.44 billion.
Here are some additional highlights from the most recent American Airlines earnings report.
- Adjusted per-share losses are much worse than the adjusted EPS of $1.82 from the same period of the year prior.
- Revenue for the quarter is sitting 84.6% lower than the $11.96 billion from the second quarter of 2019.
- Operating loss of $2.49 billion is a massive shift year-over-year from an operating income of $1.15 billion.
- The American Airlines earnings report also has net loss coming in at $2.07 billion.
- That’s nowhere close to the company’s net income of $662 million from the same time last year.
Doug Parker, chairman and CEO of American Airlines, said this in the earnings report.
“We have moved swiftly to improve our liquidity, conserve cash and ensure customers are safe when they travel. There is much uncertainty ahead, but we remain confident we will emerge from this crisis more agile and more efficient than ever before.”
American Airlines doesn’t get into details when it comes to 2020 guidance. Nevertheless, the company notes it’s seeing a decrease in passengers as travel restrictions ramp up alongside cases of the novel coronavirus.
AAL stock was up 4.7% as of Thursday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.