Q3 25 EPS
$-0.17
BEAT +38.20%
Est. $-0.28
Q3 25 Revenue
$13.69B
BEAT +0.48%
Est. $13.63B
vs S&P Since Q3 25
+30.5%
BEATING MARKET
AAL +41.3% vs S&P +10.9%
Market Reaction
Did AAL Beat Earnings? Q3 2025 Results
American Airlines delivered a stronger-than-expected third quarter, posting a loss of $0.17 per diluted share against a consensus estimate of $0.28, a 39.29% beat that sent shares notably higher following the report. Revenue reached a record $13.69 b… Read more American Airlines delivered a stronger-than-expected third quarter, posting a loss of $0.17 per diluted share against a consensus estimate of $0.28, a 39.29% beat that sent shares notably higher following the report. Revenue reached a record $13.69 billion for any third quarter, up 0.3% year over year, with unit revenues improving sequentially through the period and September turning positive, despite significant weather disruptions and an FAA technology outage that tested operations during the month. The narrower-than-expected loss was supported by a 5.5% decline in average fuel costs to $2.37 per gallon, which helped offset a 3.9% rise in non-fuel unit costs driven largely by higher wages and regional expenses. The AAdvantage loyalty program added momentum, with active accounts up 7% and co-branded credit card spending rising 9%. Looking ahead, American guided for Q4 adjusted EPS of $0.45 to $0.75 and full-year adjusted EPS of $0.65 to $0.95, with free cash flow expected to exceed $1 billion for the full year.
Key Takeaways
- • Record third-quarter revenue of $13.7 billion
- • Sequential unit revenue improvement throughout the quarter with September producing positive unit revenue growth
- • Premium unit revenue growth outperforming main cabin
- • AAdvantage active accounts up 7% year over year
- • Co-branded credit card spending up 9% year over year
- • Lower fuel costs with average fuel price down 5.5% year over year to $2.37 per gallon
- • Total debt reduced by $1.2 billion in the quarter
AAL YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
AAL Revenue by Segment
With YoY comparisons, source: SEC Filings
AAL Revenue by Geography
With YoY comparisons, source: SEC Filings
“The American Airlines team is delivering on our commitments. We've built a strong foundation, with best-in class cost management and a focus on strengthening the balance sheet. Looking forward, I'm confident that continued investments in our network, customer experience and loyalty program will position us well to drive revenue growth and shareholder value in 2026 and beyond.”
— Robert Isom, Q3 2025 Earnings Press Release
AAL Earnings Trends
AAL vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
AAL EPS Trend
Earnings per share: estimate vs actual
AAL Revenue Trend
Quarterly revenue: estimate vs actual
AAL Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $-0.46 | $-0.40 | +13.04% | $13.91B | +1.21% |
| Q4 25 MISS FY | $0.35 | $0.16 | -54.57% | $14.00B | -0.25% |
| FY Full Year | — | $0.36 | — | $54.63B | — |
| Q3 25 BEAT | $-0.28 | $-0.17 | +38.20% | $13.69B | +0.48% |
| Q2 25 BEAT | $0.77 | $0.95 | +22.98% | $14.39B | +0.69% |
| Q1 25 BEAT | $-0.67 | $-0.59 | +12.12% | $12.55B | -0.06% |