The earnings call highlighted strong financial performance in a challenging environment, with record revenue and significant progress in premium demand and indirect revenue recovery. However, there were notable challenges, including weakness in domestic revenue and operational disruptions, alongside a projected loss for the third quarter.

Company Guidance -

Q3 2025

During American Airlines' second quarter 2025 earnings call, CEO Robert Isom reported an adjusted pretax profit of $869 million, equating to earnings per share of $0.95, which reached the higher end of their guidance from April. The airline achieved record revenue of $14.4 billion and a second quarter operating margin of approximately 8%. Despite a challenging domestic market with a 6% year-over-year decrease in domestic unit revenue, international and premium cabins displayed strength, with Atlantic PRASM increasing by 5% and Pacific PRASM by 1% year-over-year. The airline's AAdvantage program saw a 7% increase in active members year-to-date, contributing to a 6% year-over-year increase in spending on co-branded credit cards. American Airlines ended the quarter with $38 billion in total debt and $29 billion in net debt, marking their lowest net debt levels since 2015. Looking forward, the airline anticipates third-quarter revenue to range between down 2% and up 1% year-over-year, with capacity expected to increase by 2% to 3%. They forecast a third-quarter loss per share between $0.10 and $0.60, and for the full year, a range from a loss of $0.20 to a profit of $0.80 per share.

Record Revenue Achievement

American Airlines reported record revenue of $14.4 billion for the second quarter, showcasing progress in delivering on revenue potential despite a challenging environment.

Premium Demand Resilience

Premium demand and spending from higher-income consumers remained strong, with unit revenue in the premium cabin performing 4 points better than the main cabin.

Improved Indirect Revenue Recovery

Efforts to recover revenue from indirect channels exceeded expectations, with a 3% reduction in indirect share compared to historical levels.

AAdvantage Program Growth

Active AAdvantage members grew by 7% year-to-date, contributing significantly to premium revenue with spending on co-branded credit cards up 6% year-over-year.

Cash Flow and Debt Management

The company generated $791 million in free cash flow for the quarter and reduced net debt to $29 billion, the lowest level since 2015.

American Airlines (AAL) Earnings, Revenues Date & History

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AAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 16, 2025	2025 (Q3)	-0.29 / -	0.3	―	―	―
Jul 24, 2025	2025 (Q2)	0.78 / 0.95	1.09	-12.84% (-0.14)
Apr 24, 2025	2025 (Q1)	-0.69 / -0.59	-0.34	-73.53% (-0.25)
Jan 23, 2025	2024 (Q4)	0.66 / 0.86	0.29	196.55% (+0.57)
Oct 24, 2024	2024 (Q3)	0.18 / 0.30	0.38	-21.05% (-0.08)
Jul 25, 2024	2024 (Q2)	1.06 / 1.09	1.92	-43.23% (-0.83)
Apr 25, 2024	2024 (Q1)	-0.27 / -0.34	0.05	-780.00% (-0.39)
Jan 25, 2024	2023 (Q4)	0.11 / 0.29	1.17	-75.21% (-0.88)
Oct 19, 2023	2023 (Q3)	0.26 / 0.38	0.69	-44.93% (-0.31)
Jul 20, 2023	2023 (Q2)	1.59 / 1.92	0.76	152.63% (+1.16)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

AAL Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$12.68	$11.46	-9.62%
Apr 24, 2025	$9.32	$9.61	+3.11%
Jan 23, 2025	$18.66	$17.03	-8.74%
Oct 24, 2024	$12.83	$12.78	-0.39%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.