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American Airlines shares slump on FY'18 earnings outlook cut


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American Airlines shares slump on FY'18 earnings outlook cut

American Airlines Group Inc. shares closed down 4.13% on Jan. 10 after the company lowered its earnings outlook for full year 2018.

The carrier now expects full-year 2018 EPS excluding special items of between $4.40 and $4.60, down from a previous guidance of $4.50 to $5.00. Factoring in special items, EPS is expected to reach between $2.92 and $3.12 for the year.

American Airlines also cut its fourth-quarter 2018 guidance for total revenue per available seat mile, and now expects it to increase about 1.5% year over year. The new guidance falls at the lower end of the carrier's previous guidance range of a 1.5% to 3.5% year-over-year increase.

"This change is due primarily to a lower-than-anticipated improvement over a strong fourth quarter of 2017 in the domestic market," the company said in a filing.