The earnings call reflects a business navigating a challenging economic environment with mixed results. While international revenue and premium sectors show strength, domestic revenue and overall financial performance are struggling. The company is focusing on cost savings and strengthening its balance sheet but faces uncertainty in capacity planning and future guidance.

Company Guidance -

Q2 2025

During the American Airlines Group's First Quarter 2025 Earnings Conference Call, several key metrics and guidance were highlighted. The company reported a first-quarter GAAP net loss of $473 million, with an adjusted net loss of $386 million. First-quarter revenue stood at $12.6 billion, slightly down by 0.2% year over year, while unit revenue increased by 0.7%. In terms of capacity, the second quarter is expected to see a year-over-year increase of 2% to 4%. The company anticipates second-quarter revenue to range from a 2% decrease to a 1% increase year over year, influenced by softness in domestic main cabin demand. Additionally, the company achieved a free cash flow of $1.7 billion in the first quarter and reduced its total debt by $1.2 billion. Looking ahead, American Airlines Group plans to continue its focus on cost management, expecting $750 million in cumulative cost savings by the end of 2025, and aims to reduce its total debt to under $35 billion by the end of 2027.

Strong International Revenue Growth

Atlantic passenger RASM was up 10.5% year over year, and Pacific passenger RASM was up 4.9% on 24.1% more capacity, primarily driven by strength in Japan.

Loyalty Program and Premium Revenue Growth

Loyalty revenues were up 5% year over year, with spending on co-branded credit cards up 8%. Premium revenue increased 3% year over year in the first quarter on 0.3% lower capacity.

Cost Management and Debt Reduction

American Airlines expects more than $750 million of cumulative cost savings by the end of 2025 and ended the first quarter with the lowest net debt level since 2015.

Free Cash Flow and Liquidity

Produced first quarter free cash flow of $1.7 billion and ended the quarter with $10.8 billion of total available liquidity.

American Airlines (AAL) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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AAL Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 17, 2025	2025 (Q2)	0.78 / -	1.09	―	―	―
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)
Apr 27, 2023	2023 (Q1)	0.04 / 0.05	-2.32	102.16% (+2.37)

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
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%
Jul 25, 2024	$10.17	$10.60	+4.23%

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.