.July 26, 2024 05:32:00 AM

American Airlines (NASDAQ:AAL) reported adjusted earnings of $1.09 per share in the second quarter, slightly beating analyst estimates of $1.07. However, quarterly revenue fell short at $14.3 billion compared to the expected $14.39 billion. Despite a 2% increase in revenue year-over-year, the airline slashed its full-year earnings guidance to $0.70 to $1.30 per share, well below the previous guidance of $2.25 to $3.25. CEO Robert Isom attributed the challenges to prior sales strategies and an imbalance in domestic supply and demand, with third-quarter earnings expected to be breakeven.