American Airlines beats by $0.09, reports revs in-line :
- Reports Q2 (Jun) earnings of $1.77 per share, excluding non-recurring items,$0.09 better than the Capital IQ Consensus of $1.68; revenues fell 4.3% year/year to $10.36 bln vs the $10.33 bln Capital IQ Consensus on a 1.9 percent increase in total available seat miles (ASMs).
- Second quarter 2016 revenue was hurt by competitive capacity growth, continued global macroeconomic softness and foreign currency weakness.
- Consolidated passenger revenue per ASM (:PRASM) was 12.71 cents, down 6.3 percent versus the second quarter of 2015. Consolidated passenger yield was 15.42 cents, down 5.3 percent year-over-year.
- Pretax margin 15.4% vs. 17.2% last year.
- On July 13, co improved Q2 PRASM guidance to down 6-7% from down 6-8%, preannounced pretax margin 14-16%.
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