American Airlines Joins Best Airline Stocks’ Performance in Years by Smashing Expectations

American Airlines Group (AAL ) joined its peers in reporting strong Q2 earnings. The airline giant reported non-GAAP EPS of $1.92, beating estimates of $1.59. Sales hit a record $14.1 billion, beating estimates of $13.73 billion. AAL also raised its guidance for diluted earnings per share for the fiscal year to a range of $3.00 to $3.75 from a range of $2.50 to $3.50.

In the same fashion, United Airlines (UAL) on Wednesday raised its FY and Q3 adjusted earnings per share guidance. Revenue and EPS beat expectations for Q2 as well. Furthermore, U.S. domestic margins returned to 2019 levels, while international margins were well above that level. AAL reported an average load factor of about 86% for the quarter, compared with an average load factor of 80% in the first quarter.

The company reduced debt by $387 million and said strengthening its balance sheet remains a top priority. American Airlines (AAL) has completed nearly two-thirds of its goal of reducing total debt by $15 billion by the end of 2025.