American Airlines beat earnings expectations and raised its full-year outlook, as load factor improved to the highest level seen in 11 years.
CNBC's Phil LeBeau joins 'Squawk Box' to report on the company's quarterly earnings results.
American Airlines' fourth-quarter forecast tops estimates
Anglo American PLC (LSE:AAL) said it was making good progress on divestment plans it put in place to see off a takeover bid from rival miner BHP. Duncan Wanblad, chief executive, commented that platinum (PGM) business Amplats should be demerged by mid-2025 while coking coal is down to the final round of bidders.
Airlines have been a mixed bag this earnings season. United stock soared after an earnings beat, but Delta's results missed expectations.
American said it has made significant investments to improve the handling of wheelchairs.
American Airlines' stock falls after $50 million settlement with DOT over mistreatment of disabled passengers.
Investors interested in Transportation stocks can watch out for third-quarter 2024 earnings reports of LUV, AAL, UNP and NSC.
Beyond analysts' top -and-bottom-line estimates for American Airlines (AAL), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended September 2024.
American Airlines has shown a 12.65% gain since May, outperforming the S&P 500. Q3 guidance indicates stable revenues with capacity expansion, but TRASM and adjusted CASM suggest low margins in Q3. The company has a strong EPS beat history but a weak track record on revenue estimates, missing expectations frequently.
American Airlines gets buy rating as continued strong travel demand expected to fuel further revenue growth in near future, helping earnings. Although having a negative equity, the firm is showing signs of reducing its debt load, which could help reduce interest expenses in the future. The airline is #3 in US market share and has over 900 aircraft as well as many global destinations, fueling its brand presence and reputation.
High passenger revenues and low fuel costs are likely to have aided AAL's Q3 performance.