American Airlines Group Inc. (AAL) has announced a revision to its second-quarter adjusted earnings per share outlook, as revealed in a recent regulatory filing. Additionally, the company's Chief Commercial Officer, Vasu Raja, will be stepping down in June 2024. Stephen Johnson, the Vice Chair and Chief Strategy Officer, will immediately take over leadership of the commercial organization and play a key role in the search for Raja's successor.
On Tuesday, AAL's stock closed regular trading at $13.44, reflecting a decline of $0.40 or 2.89%. In after-hours trading, the stock experienced a further drop of $0.85 or 6.33%.
The company now projects its second-quarter adjusted earnings per share to range between $1.00 and $1.15, down from the initial forecast of $1.15 to $1.45 per share. Analysts surveyed by Thomson Reuters had anticipated earnings of $1.30 per share for the second quarter, excluding special items.
Furthermore, American Airlines has adjusted its second-quarter guidance for the adjusted operating margin, lowering it by 1 percentage point to lie between 8.5% and 10.5%.
