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American Airlines Q1 profit falls YOY

American Airlines Group Inc. said its first-quarter normalized net income was 60 cents per share, compared with the S&P Capital IQ consensus estimate of 57 cents per share.

EPS decreased 51.6% year over year from $1.25.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $306.9 million, a decrease of 59.8% from $763.1 million in the prior-year period.

The normalized profit margin declined to 3.2% from 8.1% in the year-earlier period.

Total revenue rose on an annual basis to $9.62 billion from $9.44 billion, and total operating expenses rose 11.3% on an annual basis to $8.90 billion from $8.00 billion.

Reported net income declined 66.5% year over year to $233.6 million, or 46 cents per share, from $697.1 million, or $1.14 per share.