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American Airlines: 3Q Earnings Snapshot

October 22, 2020 GMT

FORT WORTH, Texas (AP) _ American Airlines Group Inc. (AAL) on Thursday reported a third-quarter loss of $2.4 billion, after reporting a profit in the same period a year earlier.

On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $4.71. Losses, adjusted for non-recurring gains, came to $5.54 per share.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for a loss of $5.62 per share.

The world’s largest airline posted revenue of $3.17 billion in the period, also surpassing Street forecasts. Eleven analysts surveyed by Zacks expected $2.8 billion.

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American Airlines shares have declined 56% since the beginning of the year. The stock has declined 55% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAL at https://www.zacks.com/ap/AAL