American Airlines Group Shares Up 3% on Raised Q3 Estimates

American Airlines Group Inc. (NASDAQ:AAL) shares rose around 3% intra-day following the company’s forecast raise on Q3 revenues.

Q3 total revenue is expected to be up approximately 13% compared to Q3/19, which is above the company's prior guidance of 10%-12%. An improvement in the revenue generation is slightly offset by operating costs which the company is now guiding to the higher end of the previous.

Following the announcement, analysts at Deutsche Bank raised their EPS estimate from $0.40 to $0.65 (vs. Street’s $0.43). They are also narrowed their full-year loss per share forecast of $1.00 to a loss per share of $0.80 (vs. Street’s loss of $0.77).