American Airlines Group reports record 4Q and full year profit
Fort Worth, Texas.– American Airlines Group Inc.(NASDAQ:AAL) today reported its fourth quarter and full year 2015 results.
Record fourth quarter 2015 net profit excluding net special credits was $1.3 billion, up 17 percent versus the previous record set in the fourth quarter 2014 Record full year 2015 net profit excluding net special credits was $6.3 billion, up 50 percent versus the previous record set in 2014 Repurchased $1.1 billion, or 25.6 million shares, of common stock during the fourth quarter. In 2015, the Company repurchased 85.1 million shares for $3.6 billion
American Airlines Group reported a record fourth quarter GAAP net profit of$3.3 billion, or $5.09 per diluted share, which includes a $3.0 billion netspecial credit resulting from the reversal of the Company’s tax valuationallowance. This compares to a GAAP net profit of $597 million in the fourthquarter of 2014, or $0.82 per diluted share.
For full year 2015, the Company reported a record GAAP netprofit of $7.6 billion, or $11.07 per diluted share, compared to a GAAP netprofit of $2.9 billion, or $3.93 per diluted share in 2014.
American Airlines Group’s fourth quarter 2015 net profit,excluding net special credits, was a record $1.3 billion, or $2.00 per dilutedshare versus a fourth quarter 2014 net profit excluding net special charges of$1.1 billion, or $1.52 per diluted share. The Company’s fourth quarter 2015pretax margin excluding net special credits was a record 13.4 percent, up 2.8percentage points from the same period last year.
Excluding net special credits, the Company’s 2015 netprofit was a record $6.3 billion, or $9.12 per diluted share. This represents a50 percent improvement over the Company’s 2014 net profit excluding specialcharges of $4.2 billion, or $5.70 per diluted share. The Company’s 2015 pretaxmargin excluding net special credits was a record 15.3 percent, up 5.5percentage points versus 2014.
See the accompanying notes in the Financial Tables sectionof this press release for further explanation, including a reconciliation ofGAAP to non-GAAP financial information.
“We are extremely pleased to report record quarterly andfull year earnings,” said Chairman and CEO Doug Parker. “The credit for theseresults goes to our outstanding team members, who have provided excellentcustomer service.
“American Airlines enters 2016 well-positioned for thefuture. With the youngest aircraft fleet among our major competitors, more than$2 billion of product investments underway, and the best aviation professionalsin the business, we are well on our way to restoring American as the greatestairline in the world.”