American Airlines Shares Are Up 4% After Forecasting 2024 Profit Largely Above Estimates

Tiger Newspress01-25

(Reuters) - American Airlines Group forecast 2024 profit largely above Wall Street expectations on Thursday as the carrier benefits from strong demand for international travel, sending its shares up 4.31% before the bell.

The company expects full-year adjusted earnings per share to be between $2.25 and $3.25, compared with analysts' estimate of $2.25 per share, according to LSEG data.

U.S. airlines that fly internationally are experiencing a surge in demand for long-haul flights, driven by a robust dollar that is prompting more Americans to consider overseas travel for leisure and recreation.

Airline executives have also flagged bumper revenue during the holiday season, including Thanksgiving and Christmas, as more people choose experiences over purchasing goods.

On Thursday, American Airlines reported a lower fourth-quarter profit of $19 million, or 3 cents per share, compared with $803 million, or $1.14 per share, a year earlier.

Revenue fell 1% to $13.06 billion.

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