TodayQuote:
Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
We had some drag items on our earnings including the trainer refinery. It lost another 41 million dollars. Management says it will be profitable next quarter. They have made that same statement every quarter since they made the purchase. Sooner or later they might be right!Originally Posted by Timbo
More record earnings, here's a quick quote from American's quarterly report, suddenly Richard doesn't look like such a genius any more, if these guys are spitting out the same numbers prior to their full integration. Oh, and despite all the dire claims from AA's management, that their Pilots had to flush their retirement plan or else they'd liquidate, um...seems they survived after all, and they kept their retirements:
Eps 0.65 vs est 0.48
Today we announced our first quarter 2014 financial results. Like last quarter, we’ll compare year-over-year results for American Airlines and US Airways on a combined basis, which is a non-GAAP (Generally Accepted Accounting Principle) formulation using AMR Corporation and US Airways Group. We’ll continue to report our results on a non-GAAP basis until 2015 when we have a true apples-to-apples comparison of our performance on a year-over-year basis. On to the numbers!
For the first quarter, I’m pleased to report a record first quarter net profit of $402 million excluding net special credits. In the entire history of American Airlines, we have never earned $400 million in the first three months of a year, but in the first three months since the merger, we did. This is up significantly from a combined non-GAAP net profit of $62 million excluding net special charges for the same period of 2013.
