American Airlines reports $149M Q3 loss, beats Wall Street expectations on revenue

American Airlines Group (NASDAQ:AAL) reported a net loss of $149 million for its third quarter on Thursday, equivalent to a loss of 23 cents per share.

However, when adjusted for non-recurring costs, the airline posted earnings of 30 cents per share, surpassing analysts' expectations.

The Fort Worth, Texas-based company exceeded Wall Street predictions, as analysts surveyed by Zacks Investment Research had projected earnings of 13 cents per share.

The airline, which remains the largest in the world by fleet size, also reported third-quarter revenue of $13.65 billion, beating the $13.49 billion expected by seven Zacks analysts.

Looking ahead to the fourth quarter, which ends in December, American Airlines forecasts earnings per share ranging from 25 cents to 50 cents.

For the full year, the company expects its earnings to be between $1.35 and $1.60 per share.

Despite the positive earnings beat, American Airlines' stock has seen a 7% decline since the start of the year, although it has increased 14% over the last 12 months.