We produced record full year revenues of approximately $53 billion, driven by strong demand for our product and record revenue from our travel rewards program.
— Robert Isom
03Detailed Report
AAL
American Airlines Group Inc
Period
Q4 2023
CurrencyUSD
Report TypeQuarterly Earnings
GeneratedJun 20, 2026
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Executive Summary
In Q4 2023, American Airlines Group Inc. (AAL) reported a net income of $19 million, representing a significant decline of 97.63% year-over-year, reflecting challenges in revenue generation amidst rising operational costs. Despite this, the company achieved record full-year revenues of approximately $53 billion, primarily driven by strong demand and increased revenue from their AAdvantage loyalty program, which constituted two-thirds of total revenue. Operationally, American Airlines demonstrated resilience with improved operational metrics, leading the U.S. network carriers in reliability metrics such as completion factors and on-time departures. Management remains focused on cost management and operational efficiency moving into 2024, with a strategic goal of achieving mid-single-digit capacity growth.
Key Performance Indicators
Revenue
Decreasing
13.06B
QoQ: -3.12% | YoY: -0.96%
Gross Profit
Decreasing
2.63B
20.11% margin
QoQ: -17.23% | YoY: -19.32%
Operating Income
Decreasing
665.00M
QoQ: -398.21% | YoY: -51.92%
Net Income
Decreasing
19.00M
QoQ: -103.49% | YoY: -97.63%
EPS
Decreasing
0.03
QoQ: -103.61% | YoY: -97.56%
Revenue Trend
Margin Analysis
Financial Highlights
- Revenue: $13.06 billion (Q4 2023), -0.96% YoY, -3.12% QoQ
- Net Income: $19 million, -97.63% YoY
- EPS: $0.03, -97.56% YoY
- Adjusted EBITDAR Margin: 12% for Q4 2023
- Free Cash Flow: $1.8 billion for the full year
- Debt Reduction: Approximately $13 billion aimed by end of 2024, with total debt reduction since 2021 reaching $11.4 billion.
Income Statement
Metric
Value
YoY Change
QoQ Change
Revenue
13.06B
-0.96%
-3.12%
Gross Profit
2.63B
-19.32%
-17.23%
Operating Income
665.00M
-51.92%
-398.21%
Net Income
19.00M
-97.63%
-103.49%
EPS
0.03
-97.56%
-103.61%
Key Financial Ratios
Gross Profit Margin
Fair
20.10%
Gross profit margin is moderate, room for improvement in cost management
Operating Profit Margin
Fair
5.09%
Operating margin is moderate, room for improvement in cost management
Net Profit Margin
Weak
0.15%
Net profit margin is below industry norms, profitability concerns
Return on Assets
Weak
0.03%
Return on assets suggests inefficient capital allocation
Return on Equity
Weak
0.00%
Return on equity suggests inefficient capital allocation
Current Ratio
Concern
0.62
Current ratio below safe levels, potential liquidity risk
Debt to Equity
Conservative
-7.54
Debt-to-equity shows conservative leverage and low financial risk
P/E Ratio
High Growth
118.37x
Very high P/E indicates aggressive growth expectations, higher risk
Price to Book
Undervalued
-1.73x
Trading below book value, potential value opportunity or distressed
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