American Airlines shares skid 9% even as earnings outlook is raised
Shares of American Airlines Group Inc. were rocked Wednesday, after the air carrier raised its profit outlook, but not by enough to match Wall Street expectations.
The stock AAL, -8.87% took a 9.0% dive in midday trading, to put it on track to suffer the biggest one-day drop since it fell 9.5% on June 13, 2022, and to close at a three-month low. Just before the updated outlook, the stock had traded up 0.2% in the premarket. Total revenue per available seat mile is expected to be up 25.5%, which is right in the middle of previous guidance of a 24%-to-27% rise.
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