American Airlines stock gains after revenue, capacity update is in line with previous guidance

Shares of American Airlines Group Inc. rose 0.4% in premarket trading Tuesday, after the air carrier provided an update of its third-quarter financial outlook, which was mostly in line with previous estimates. The company said it expects third-quarter revenue to be down approximately 25% from the same period in pre-pandemic 2019, compared with the previous guidance range of down 25% to 28%. The FactSet revenue consensus of $8.78 billion implies a 26.3% decline. Capacity is now expected to fall about 19.4% to 61.1 billion available seat miles, compared with previous guidance of a 15% to 20% decline. The guidance for average fuel price per gallon fell to $2.08 from $2.10 to $2.15. The airline now expects a net loss per share, excluding net special credits of 96 cents to $1.04. The FactSet consensus for per-share losses is currently $1.22. American Airlines' stock has lost 3.4% over the past three months through Monday, while the U.S. Global Jets ETF has eased 0.4% and the S&P 500 has slipped 0.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

American Airlines stock gains after revenue, capacity update is in line with previous guidance
Shares of American Airlines Group Inc. rose 0.4% in premarket trading Tuesday, after the air carrier provided an update of its third-quarter financial outlook, which was mostly in line with previous estimates. The company said it expects third-quarter revenue to be down approximately 25% from the same period in pre-pandemic 2019, compared with the previous guidance range of down 25% to 28%. The FactSet revenue consensus of $8.78 billion implies a 26.3% decline. Capacity is now expected to fall about 19.4% to 61.1 billion available seat miles, compared with previous guidance of a 15% to 20% decline. The guidance for average fuel price per gallon fell to $2.08 from $2.10 to $2.15. The airline now expects a net loss per share, excluding net special credits of 96 cents to $1.04. The FactSet consensus for per-share losses is currently $1.22. American Airlines' stock has lost 3.4% over the past three months through Monday, while the U.S. Global Jets ETF has eased 0.4% and the S&P 500 has slipped 0.5%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.