Summary by Futu AI
On April 25, 2024, American Airlines Group Inc. released its financial results for the first quarter of 2024. The airline reported record first-quarter revenue of approximately $12.6 billion but also a net loss of $312 million, or $0.48 per diluted share. Excluding special items, the net loss was $226 million, or $0.34 per diluted share. Despite the loss, American Airlines achieved its best-ever first-quarter completion factor and generated $2.2 billion in operating cash flow and $1.4 billion in free cash flow. The company also reduced its total debt by nearly $950 million during the quarter, marking significant progress toward its 2025 debt reduction goal. On the same day, American Airlines provided a presentation and an investor update, detailing its financial and operational outlook for the second quarter and the full year of 2024. The company expects its second-quarter 2024 adjusted earnings per diluted share to be between $1.15 and $1.45 and maintains its full-year adjusted earnings per share forecast of $2.25 to $3.25.