American Airlines (AAL) Posts Q2 EPS of $1.17, Sales Beat
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American Airlines (NASDAQ: AAL) reported Q2 EPS of $1.17, which may note compare to the analyst estimate of $1.93. Revenue for the quarter came in at $11.4 billion versus the consensus estimate of $11.31 billion.
- Second quarter 2014 non-GAAP net profit excluding net special charges was $1.5 billion, a record for any quarter in the history of American Airlines
- Second quarter 2014 GAAP net profit was a record $864 million
- The Company also announced a capital deployment program, including over $2.8 billion in debt and aircraft lease prepayments, a $1 billion share repurchase program, the initiation of a quarterly cash dividend, and $600 million of additional pension contributions
- As part of the program, American's Board of Directors declared a dividend of $0.10 per share for shareholders of record as of August 4, 2014. The cash dividend is the first declared by American since 1980
"We are very pleased to report the highest quarterly profit in the history of American Airlines," said Chairman and CEO Doug Parker. "Our merger is off to a great start and our 100,000 team members are doing a wonderful job working together to take care of our customers.
"We are also pleased to announce a capital deployment program that reduces our debt, provides additional pension contributions and returns capital to shareholders. The fact that we are able to implement this program while still funding our significant product improvements, fleet renewal program and integration costs is further evidence of the success of our merger. We have much hard work ahead, but we are extremely encouraged by the great work being done by our team members."
For earnings history and earnings-related data on American Airlines (AAL) click here.
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