American Airlines Group, Inc. · NASDAQ:AAL
American Airlines — Q1 2024 Earnings Presentation
19 slides from American Airlines's earnings presentation, Apr 25, 2024
Slide 1: First-Quarter 2024 Financial Results
April 25, 2024 FIRST- QUARTER 2024 FINANCIAL RESULTS American Airlines Group Inc. Exhibit 99.2
Slide 2: Forward-looking statements
Certain of the statements contained in this presentation should be considered forward-looking statements within the meaning of the Securities Act of 1933, as amended, the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. These forward- looking sta
Slide 3: First-quarter results
First-quarter results • Record first-quarter revenue of ~$12.6 billion • First-quarter net loss per diluted share of ($0.48). Excluding net special items1, first-quarter net loss per diluted share of ($0.34). • Best-ever first-quarter completion factor • Reduced total debt2 by nearly $950 million •
Slide 4: American continues to lead in operational reliability
97.3 95.5 98.4 98.7 2019 2022 2023 2024 American continues to lead in operational reliability • In 1Q 2024, American achieved its best-ever first-quarter completion factor First-quarter completion factor1 (%) 1. Combined Mainline and Regional completion factor. Excludes 2020 and 2021 as the impacts
Slide 5: AAdvantage growth continues
1Q 2019 1Q 2024 New loyalty member accounts AAdvantage® growth continues • 1Q 2024 was another strong quarter for new members joining American’s AAdvantage® loyalty and travel rewards program Source: Internal data. + 60% vs. 1Q 2019
Slide 6: First-quarter bookings contribution
51% 81% 1Q 2019 1Q 2023 1Q 2024 First-quarter bookings contribution • American continues to see an increase in bookings from modern distribution technology 1. Modern distribution technology includes website, mobile app and NDC direct bookings. Source: Internal data. Bookings through modern distribut
Slide 7: Financial update
Financial update
Slide 8: First-quarter financial results
First-quarter financial results Note: May not recalculate due to rounding. 1. See GAAP to non-GAAP reconciliation at the end of this presentation. Source: Airline financials. GAAP Non-GAAP1 (in millions, except share and per share amounts) 1Q 2024 1Q 2023 1Q 2024 1Q 2023 Operating Income $7 $438 $77
Slide 9: Balance sheet strengthening continues
(3.7) (5.0) (4.3) 2Q 2021 Total Debt Maturities & Prepayments Amortizing Debt Lease & Pension YE 2024E Total Debt YE 2025E Total Debt Longer Term Total Debt Balance sheet strengthening continues ~13B Peak • $12.3 billion total debt1 reduction from peak levels through first-quarter 2024 • On track to
Slide 10: Young fleet enables a moderate capex profile
$3.8 $1.8 $1.9 ~$2.2 ~$3.0-$3.5 2014 - 2019 Avg. 2022 2023 2024E 2025E - 2030E Avg. Young fleet enables a moderate capex profile Source: Airline financials for historical data. Total aircraft capex ($ in billions)
Slide 11: Second-quarter and full-year outlook
Second-quarter and full-year outlook 1. CASM-ex is cost per available seat mile (CASM) excluding fuel and net special items and is a non-GAAP measure. All adjusted operating margin and adjusted earnings per diluted share guidance excludes the impact of net special items and are non-GAAP measures. Th
Slide 12: Thank you, #AATeam
Thank you, #AATeam 4/24/2024
Slide 13: GAAP to non-GAAP reconciliation
GAAP to non-GAAP reconciliation Reconciliation of GAAP Financial Information to Non-GAAP Financial Information American Airlines Group Inc. (the Company) sometimes uses financial measures that are derived from the condensed consolidated financial statements but that are not presented in accordance w
Slide 14: GAAP to non-GAAP reconciliation: operating income
GAAP to non-GAAP reconciliation Reconciliation of Operating Income Excluding Net Special Items 3 Months Ended March 31, Percent Increase 2024 2023 (Decrease) (in millions) Operating income as reported $ 7 $ 438 Operating net special items: Mainline operating special items, net (1) 70 13 Operating in
Slide 15: GAAP to non-GAAP reconciliation: net income
GAAP to non-GAAP reconciliation 3 Months Ended March 31, Percent Increase Reconciliation of Net Income (Loss) Excluding Net Special Items 2024 2023 (Decrease) (in millions, except share and per share amounts) Net income (loss) as reported $ (312) $ 10 Net special items: Total pre-tax net special ite
Slide 16: Free cash flow reconciliation
Free cash flow reconciliation The Company's free cash flow summary is presented in the table below, which is a non-GAAP measure that management believes is useful information to investors and others in evaluating the Company's ability to generate cash from its core operating performance that is avai
Slide 17: Adjusted EBITDAR margin reconciliation
Adjusted EBITDAR margin reconciliation The Company's adjusted EBITDAR and adjusted EBITDAR margin are presented below, which are non-GAAP measures that management uses to evaluate the Company's current operating performance. These non-GAAP measures may not be comparable to similarly titled non-GAAP
Slide 18: Net debt reconciliation
Net debt reconciliation Net debt is defined as debt, finance and operating lease liabilities and pension obligations, net of unrestricted cash and short-term investments. Net Debt (at end of period) December 31, 2019 March 31, 2024 Debt and finance leases $ 24,315 $ 32,330 Operating lease liabilitie
Slide 19: American Airlines
American®. Airlines
American Airlines Group — Q1 2024 Earnings Presentation on 6ix