American Airlines beats by $0.02, reports revs in-line
Reports Q3 (Sep) earnings of $1.66 per share, $0.02 better than the Capital IQ Consensus Estimate of $1.64; revenues rose 4.4% year/year (adj. for merger) to $11.14 bln vs the $11.14 bln consensus, on a 2.0 percent increase in total available seat miles (ASMs).
- Consolidated passenger revenue per ASM (PRASM) was a record at 14.12 cents, up 1.0% vs. +0.5-1.5% guidance, driven by a record yield of 16.93 cents, up 2.6 percent year-over-year.
- The Company's third quarter 2014 pretax margin excluding net special charges was 11% vs. 10-12% guidance.
- "We anticipate we will also post a record profit for both the fourth quarter and full year 2014.