American Airlines Group Inc. Announces Unaudited Consolidated Earnings and Traffic Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the First Quarter and Full Year 2018
For the full year, the company reported total operating revenues of $42,207 million compared with $40,180 million for the same period a year ago. Operating income was $4,058 million compared with $5,284 million for the same period a year ago. Income before income taxes was $3,084 million compared with $4,299 million for the same period a year ago. Net income was $1,919 million or $3.90 per diluted share compared with $2,676 million or $4.81 per diluted share for the same period a year ago. Pre-tax income excluding special items was $3,840 million compared with $5,071 million for the same period a year ago. Net income excluding special items was $2,399 million or $4.88 per diluted share compared with $3,173 million or $5.71 per diluted share for the same period a year ago. Operating income excluding special items was $4,792 million compared with $6,007 million for the same period a year ago.
For the quarter, the company reported revenue passenger miles of 55,327 million compared with 53,452 million for the same period a year ago. Available seat miles were 67,355 million compared with 65,683 million for the same period a year ago. Passenger load factor was 82.1% compared with 81.4% for the same period a year ago.
For the year, the company reported revenue passenger miles of 226,346 million compared with 223,477 million for the same period a year ago. Available seat miles were 276,493 million compared with 273,410 million for the same period a year ago. Passenger load factor was 81.9% compared with 81.7% for the same period a year ago.
The company provides earnings guidance for the first quarter and full year 2018. For the quarter, the company expects pre-tax margin excluding special items to be between 2.0% and 4.0%.
For the full year, the company presently expects its 2018 diluted earnings per share excluding net special items to be between $5.50 and $6.50. For the full year, the company expects gross CapEx to total $1.8 billion as compared to $4.1 billion in 2017.