American Airlines adjusts 2024 profit forecast following sales strategy change.

• American Airlines raised its 2024 profit forecast year after a sales strategy shift.
• For the third quarter, Wall Street's earnings and revenue expectations were surpassed by the carrier.

CEO Robert Isom stated that the company's sales strategy shift earlier this year is resulting in a raised profit forecast for the year.

The airline anticipates earning between 25 cents and 50 cents per share on an adjusted basis in the fourth quarter, surpassing the 29 cents analysts predicted. For the year, the airline expects to earn up to an adjusted $1.60 per share, exceeding an earlier American forecast of no more than $1.30 per share.

In May, American fired its chief commercial officer due to a failed sales strategy that resulted in a reversal of its sales model.

"American has taken aggressive action to reset its sales and distribution strategy and reengage the business travel community, which is expected to improve revenue performance over time, according to Isom in an earnings release on Thursday. The company has received positive feedback from travel agencies and corporate customers as it works to rebuild the foundation of its commercial strategy and make it easy for customers to do business with American."

Wall Street estimates compiled by LSEG show how American performed in the third quarter compared to the estimates.

• Earnings per share: 30 cents adjusted vs. 16 cents
• Revenue: $13.65 billion vs. $13.49 billion expected

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