(Tiper Stock Exchange) – American Airlinesa US airline, closed the first quarter of 2023 with a Net income of $10 million, or $0.02 per share. On an adjusted basis, net income was $33 million, or $0.05 per share. The come in they hit a record $12.2 billion, up 37% year-on-year.
The company has spawned a operating cash flow record $3.3 billion and a free cash flow record $3 billion.
“The American Airlines team ran a great operation and has complied with our guidance report for the quarter, achieving first-quarter profit for the first time in four years,” said CEO Robert Isom.
The analysts they expected, on average, earnings per share of $0.05 on revenues of $12.2 billion, according to Refinitiv data.
“Looking at the rest of 2023we remain focused on reliability, profitability, strengthening the balance sheet and creating even more value for our shareholders, team members, customers and the communities we serve,” he added.
American Airlines has reaffirmed the goal of adjusted earnings per share for the full year 2023 from $2.50 to $3.50.