FORT WORTH, Texas (AP) _ American Airlines Group Inc. (AAL) on Thursday reported a first-quarter loss of $2.24 billion, after reporting a profit in the same period a year earlier.
On a per-share basis, the Fort Worth, Texas-based company said it had a loss of $5.26. Losses, adjusted for non-recurring costs, were $2.65 per share.
The results fell short of Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of $2.16 per share.
The world’s largest airline posted revenue of $8.52 billion in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $9.15 billion.
American Airlines shares have declined 57% since the beginning of the year. The stock has dropped 63% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AAL at https://www.zacks.com/ap/AAL
The Associated Press