American Airlines raises 2023 profit forecast after strong second quarter where net income hit $1.34 billion
American Airlines raised its earnings outlook for 2023 after a strong start to the peak travel season.Airline executives have been upbeat about travel demand, particularly for international trips.on Thursday raised its earnings outlook for 2023 after a strong start to the peak travel season, the latest airline to reap the rewards from the continued boom in demand.
Still, American said Thursday that it expects unit revenues to drop as much as 6.5% in the third quarter from a year earlier with capacity growth of up to 7% from the same period of 2022. For the third quarter, American expects to earn an adjusted 85 cents to 95 cents per share, in line with estimates.
The Fort Worth, Texas-based carrier expects to earn between $3 and $3.75 a share for the full year, adjusting for one-time items, up from a forecast in May to earn about $2.50 to $3.50. That updated 2023 profit guidance falls in line with Wall Street expectations of $3.10, according to Refinitiv consensus estimates.Airline executives have been upbeat about travel demand, particularly for international trips.
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