00:00It's Benzinga, bringing Wall Street to Main Street.
00:02American Airlines reinstated its full-year profit forecast Thursday with a lowered range,
00:06according to the Wall Street Journal.
00:07Carrier projected a dusted earnings between a $0.20 loss and an $0.80 profit per share.
00:12It sparks a retreat from January's initial $1.70 to $2.70 guidance,
00:16which was pulled in April after tariffs and slowing domestic travel disrupted financial forecasts.
00:21CEO Robert Isom cited economic uncertainty and weak domestic demand as ongoing pressure points.
00:27The airline expects a third-quarter loss of $0.10 to $0.60 a share,
00:30far below analysts' expectations of a $0.03 profit.
00:33July is shaping up to be the weakest month, though CFO Devon May said trends are now improving.
00:38The second quarter, American posted adjusted earnings of $0.95 a share, beating the $0.78 consensus,
00:44with revenue rising 0.5% to $14.4 billion.
00:47Domestic revenue dropped 2% despite a 5% increase in capacity,
00:51while premium and international travel remained strong.
00:53The shares fell 7.8% to $11.70.
00:57For all things money, visit Benzinga.com.
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