Q4 25 EPS
$0.16
MISS 54.57%
Est. $0.35
Q4 25 Revenue
$14.00B
MISS 0.25%
Est. $14.03B
vs S&P Since Q4 25
+22.5%
BEATING MARKET
AAL +29.6% vs S&P +7.1%
Full Year 2025 Results
FY 25 EPS
$0.36
FY 25 Revenue
$54.63B
Market Reaction
Did AAL Beat Earnings? Q4 2025 Results
American Airlines Group delivered a sharply disappointing fourth quarter, posting adjusted diluted EPS of $0.16 against a consensus estimate of $0.35, a miss of 54.29%, even as the carrier set a record with $14.00 billion in Q4 revenue, up 2.5% year … Read more American Airlines Group delivered a sharply disappointing fourth quarter, posting adjusted diluted EPS of $0.16 against a consensus estimate of $0.35, a miss of 54.29%, even as the carrier set a record with $14.00 billion in Q4 revenue, up 2.5% year over year. The central drag on profitability was a surge in operating expenses, which climbed 8.2% to $13.55 billion, driven by higher fuel costs, salaries, and regional expenses, pushing Q4 operating income down 60.2% to $451.00 million and GAAP net income to just $99.00 million versus $590.00 million in the year-ago period. A government shutdown that weighed an estimated $325.00 million on results added to the pressure, compressing domestic passenger unit revenue by 2.5%. With union leaders publicly questioning CEO Robert Isom's leadership amid the airline's underperformance relative to peers, management is leaning heavily on a recovery narrative for 2026, guiding full-year adjusted EPS of $1.70 to $2.70 and free cash flow exceeding $2.00 billion, while targeting total debt reduction below $35.00 billion ahead of schedule.
Key Takeaways
- • Record Q4 revenue despite $325 million government shutdown impact
- • Premium product revenue outperforming main cabin year over year
- • Atlantic passenger revenue grew 7.5% year over year in Q4
- • Pacific passenger revenue grew 8.3% year over year in Q4
- • Co-branded credit card spending increased 8% year over year in 2025
- • AAdvantage enrollments grew 7% year over year to record annual high
- • Total operating expenses increased 8.2% year over year in Q4
AAL YoY Financials
Q4 2025 vs Q4 2024, source: SEC Filings
AAL Revenue by Segment
With YoY comparisons, source: SEC Filings
AAL Revenue by Geography
With YoY comparisons, source: SEC Filings
“American Airlines is positioned for significant upside in 2026 and beyond. We have built a strong foundation, and we look forward to taking advantage of the investments we have made in our customer experience, network, fleet, partnerships and loyalty program. The strategy we have in place will put American in the right position as we celebrate our centennial and embark on our next 100 years as a premium global airline.”
— Robert Isom, Q4 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% |