itsArtie
2021-04-22
It’s still too early for airlines recovery, give it few more months.
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American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>
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[Smile]","highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"favoriteSize":0,"link":"https://laohu8.com/post/376958326","repostId":2129808947,"repostType":4,"repost":{"id":"2129808947","kind":"news","pubTimestamp":1619079273,"share":"https://www.laohunote.com/m/news/2129808947?lang=zh_CN&edition=full","pubTime":"2021-04-22 16:14","market":"us","language":"en","title":"American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=2129808947","media":"Investopedia","summary":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load fac","content":"<p><h3>Key Takeaways</h3> <ul> <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li> <li>Passenger load factor is expected to fall YOY.</li> <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <thead> <tr> <th colspan=\"4\">American Airlines Key Stats</th> </tr> </thead> <tbody> <tr> <td></td> <td>Estimate for Q1 FY 2021</td> <td>Q1 FY 2020</td> <td>Q1 FY 2019</td> </tr> <tr> <td>Adjusted EPS</td> <td>-$4.26</td> <td>-$2.65</td> <td>$0.52</td> </tr> <tr> <td>Revenue (billions)</td> <td>$4.1</td> <td>$8.5</td> <td>$10.6</td> </tr> <tr> <td>Load factor</td> <td>63.5%</td> <td>72.7%</td> <td>82.2%</td> </tr> </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>","source":"lsy1606203311635","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>American Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAmerican Airlines Q1 2021 Earnings Preview: What to Look For<blockquote>美国航空 2021 年第一季度收益预览：值得关注的内容</blockquote>\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">Investopedia</strong><span class=\"h-time small\">2021-04-22 16:14</span>\n</p>\n</h4>\n</header>\n<article>\n<p><h3>Key Takeaways</h3> <ul> <li>Analysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.</li> <li>Passenger load factor is expected to fall YOY.</li> <li>Revenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.</li> </ul> American Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.</p><p><blockquote><h3>主要要点</h3><ul><li>分析师预计 2020 财年第一季度调整后每股收益为 -4.26 美元，而 -2.65 美元。</li><li>载客率预计同比下降。</li><li>由于 COVID-19 大流行，预计收入将连续第五个季度下降。</li></ul>由于 COVID-19 大流行促使许多潜在旅客呆在家里，美国航空集团公司 (AAL) 去年的乘客需求急剧下降。该公司2020年的客运量不到去年同期2.15亿人次的一半。除了这些财务压力之外，美国航空公司还面临美国的反垄断调查。司法部与捷蓝航空公司（JBLU）建立了合作关系，因为担心该协议可能会抬高乘客票价。</blockquote></p><p> Investors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.</p><p><blockquote>当美国航空公司在 4 月 22 日开盘前公布 2021 财年第一季度收益时，投资者将关注该公司如何应对这些挑战。分析师预测，随着收入连续第五个季度下降，调整后每股亏损 (EPS) 将同比大幅扩大。</blockquote></p><p> A key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.</p><p><blockquote>投资者在收益报告中可能关注的一个关键指标是美国航空公司的载客率，这是衡量航空公司效率的指标，反映了美国航空公司座位容量的使用百分比。分析师预计载客率将同比下降，并略低于最新报告的季度（即 2020 财年第四季度）。</blockquote></p><p> American Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&P 500's total return of 46.5%.</p><p><blockquote>美国航空公司的股票在过去一年中经历了多个时期的剧烈波动。2020年6月，股价领先市场飙升，但下个月却落后于市场。该股基本上横盘整理，直到 2020 年 10 月下旬开始长期上涨。美国股票在 12 月至 3 月中旬期间表现优于市场，尽管最近几周有所回落。截至4月20日，美国航空提供的1年追踪总回报率为84.2%，远远领先于标准普尔500指数46.5%的总回报率。</blockquote></p><p> <p class=\"t-img-caption\"><img src=\"https://static.tigerbbs.com/a772a4903ebcc543efb55c065efb3928\" tg-width=\"2244\" tg-height=\"1210\"><span>Source: TradingView.</span></p><p><blockquote><p class=\"t-img-caption\"><span>资料来源：TradingView。</span></p></blockquote></p><p> <h2>American Airlines Earning History </h2> American Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.</p><p><blockquote><h2>美国航空盈利历史</h2>近几个月来，美国航空公司的股价因其近期的盈利历史以及投资者对新 COVID-19 疫苗和新兴经济复苏的乐观情绪而受到提振。尽管该公司在 2020 财年连续四个季度公布调整后每股亏损，但美国航空的亏损在第三季度和第四季度大幅收窄。美国航空 10 月份发布第三季度收益报告后，该股最初下跌，然后在接下来的五个月内（截至 2021 年 3 月底）上涨了一倍多。但现在，分析师预测美国的盈利复苏将逆转。他们认为 2021 财年第一季度调整后每股亏损同比扩大，并且相对于 2020 财年第四季度也环比扩大。</blockquote></p><p> American Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.</p><p><blockquote>美国航空也连续四个季度收入同比下降，这也是几年来的首次。2020 财年第一季度收入同比下降 19.6%，反映了疫情对该季度后半段的影响。2020 财年第二季度收入暴跌 86.4%，第三季度下降 73.4%，第四季度下降 64.4%。分析师预计 2021 财年第一季度的降幅将较小，但仍同比下降 52.2%。</blockquote></p><p> <table> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <colgroup span=\"1\"></colgroup> <thead> <tr> <th colspan=\"4\">American Airlines Key Stats</th> </tr> </thead> <tbody> <tr> <td></td> <td>Estimate for Q1 FY 2021</td> <td>Q1 FY 2020</td> <td>Q1 FY 2019</td> </tr> <tr> <td>Adjusted EPS</td> <td>-$4.26</td> <td>-$2.65</td> <td>$0.52</td> </tr> <tr> <td>Revenue (billions)</td> <td>$4.1</td> <td>$8.5</td> <td>$10.6</td> </tr> <tr> <td>Load factor</td> <td>63.5%</td> <td>72.7%</td> <td>82.2%</td> </tr> </tbody> </table> <h2>The Key Metric </h2> As mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.</p><p><blockquote><table><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><colgroup span=\"1\"></colgroup><thead><tr><th colspan=\"4\">美国航空关键统计数据</th></tr></thead><tbody><tr><td></td><td>2021 财年第一季度的预测</td><td>2020财年第一季度</td><td>2019财年第一季度</td></tr><tr><td>调整后每股收益</td><td>-$4.26</td><td>-$2.65</td><td>$0.52</td></tr><tr><td>收入（十亿）</td><td>$4.1</td><td>$8.5</td><td>$10.6</td></tr><tr><td>载荷系数</td><td>63.5%</td><td>72.7%</td><td>82.2%</td></tr></tbody></table><h2>关键指标</h2>如前所述，美国航空投资者也可能会关注该公司的载客率。航空业的这一关键指标是衡量可用座位容量被乘客填满的百分比。较高的载客率表明乘客占用的座位百分比较高。无论机上有多少乘客，航空公司将飞机送入飞行的成本大致固定，因此有动机尽可能多地填满座位，以便更好地分配这些成本。因此，更高的负载系数是更高效率和盈利能力的标志。然而，在过去的一年里，载客率面临着巨大的压力，主要是因为新冠肺炎疫情颠覆了上述逻辑。在疫情期间，从公共卫生的角度来看，更多的飞机被认为更糟糕。随着乘客出行减少和载客率下降，美国航空公司等公司面临盈利危机。</blockquote></p><p></p><p> American Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.</p><p><blockquote>疫情期间，美国航空公司的载客率大幅下降。在2020年之前的三年里，该公司定期报告负载系数在80左右。该指标在 2020 财年第一季度首次开始下降，当时该公司报告的负载系数为 72.7%。这一比例在第二季度降至 42.3% 的低点，然后在下半年有所回升，第四季度达到 64.1%。分析师现在估计，美国在扭转载客率方面的进展将基本停止。他们预计 2021 财年第一季度的载客率将环比小幅下降至 63.5%。这一数字也将比去年同期的 72.7% 大幅下降。</blockquote></p><p></p>\n<div class=\"bt-text\">\n\n\n<p> 来源：<a href=\"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo\">Investopedia</a></p>\n<p>为提升您的阅读体验，我们对本页面进行了排版优化</p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"AAL":"美国航空"},"source_url":"https://www.investopedia.com/american-airlines-q1-2021-earnings-preview-5179859?utm_campaign=quote-yahoo&utm_source=yahoo&utm_medium=referral&yptr=yahoo","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2129808947","content_text":"Key Takeaways\n\nAnalysts estimate adjusted EPS of -$4.26 vs. -$2.65 in Q1 FY 2020.\nPassenger load factor is expected to fall YOY.\nRevenue is expected to decline for the fifth straight quarter due to the COVID-19 pandemic.\n\nAmerican Airlines Group Inc. (AAL) has seen a dramatic decline in passenger demand in the past year as the COVID-19 pandemic prompted many would-be travelers to stay home. The company's passenger volume in 2020 was less than half the 215 million people it transported a year earlier. On top of these financial pressures, American Airlines also faces an antitrust probe by the U.S. Department of Justice into its partnership with JetBlue Airways Corp. (JBLU) over concerns that the agreement may inflate passenger fares.\nInvestors will look for how American Airlines addressing these challenges when the company reports Q1 FY 2021 earnings before the market open on April 22. Analysts predict that adjusted losses per share (EPS) will widen significantly year-over-year (YOY) as revenue falls for a fifth consecutive quarter.\nA key metric that investors may focus on in the earnings report is American Airlines' passenger load factor, a measure of airline efficiency that reflects the percentage of American Airlines' seating capacity that is being used. Analysts expect load factor to fall YOY and to be slightly lower than the latest reported quarter, which is Q4 FY 2020.\nAmerican Airlines' stock has experienced multiple periods of intense volatility in the past year. In June 2020, shares surged ahead of the market, only to fall behind the next month. The stock largely traded sideways until it began a long rally in late October 2020. American's shares outperformed the market between December and mid-March, although they have fallen back somewhat in recent weeks. As of April 20, American Airlines has provided a 1-year trailing total return of 84.2%, far ahead of the S&P 500's total return of 46.5%.\nSource: TradingView.\nAmerican Airlines Earning History \nAmerican Airlines' stock has been buoyed in recent months by its recent earnings history along with investor optimism about new COVID-19 vaccines and an emerging economic recovery. While the company posted four consecutive quarters of adjusted losses per share in FY 2020, American Airlines' losses narrowed significantly in Q3 and Q4. After American's Q3 earnings report in October, the stock initially dipped and then more than doubled over the next five months through the end of March 2021. But now, analysts predict that American's earnings recovery will reverse. They see Q1 FY 2021 adjusted losses per share widening YOY, and also on a sequential basis relative to Q4 FY 2020.\nAmerican Airlines has also reported four straight quarters of YOY revenue declines, also the first in several years. Revenue dipped by 19.6% YOY for Q1 FY 2020, a reflection of the impact of the pandemic on the later portion of that quarter. Revenue then plunged 86.4% in Q2 FY 2020, followed by a 73.4% drop in Q3 and 64.4% in Q4. Analysts expect the size of the decline to be less in Q1 FY 2021, but still down 52.2% YOY.\n\n\n\n\n\n\n\nAmerican Airlines Key Stats\n\n\n\n\n\nEstimate for Q1 FY 2021\nQ1 FY 2020\nQ1 FY 2019\n\n\nAdjusted EPS\n-$4.26\n-$2.65\n$0.52\n\n\nRevenue (billions)\n$4.1\n$8.5\n$10.6\n\n\nLoad factor\n63.5%\n72.7%\n82.2%\n\n\n\nThe Key Metric \nAs mentioned, American Airlines investors are likely to look to the company's load factor as well. This key metric for the airline industry is a measure of the percentage of available seating capacity that is filled with passengers. Higher load factors indicate a higher percentage of seats that are occupied by passengers. Airlines experience roughly fixed costs to send an aircraft into flight regardless of the number of passengers on board, so there is an incentive to fill as many seats as possible in order to better distribute those costs. For this reason, a higher load factor is a sign of greater efficiency and profitability. In the past year, however, there have been strong pressures against load factor, primarily because the COVID-19 pandemic has turned the above logic on its head. Fuller planes are seen as worse from a public health perspective during a pandemic. As fewer passengers travel and load factor drops, companies like American Airlines face a profitability crisis.\nAmerican Airlines' load factor has fallen sharply during the pandemic. In the three years prior to 2020, the company regularly reported a load factor in the 80s. This metric first began to fall in Q1 FY 2020, when the company reported a load factor of 72.7%. That dropped to a low of 42.3% in Q2 and then recovered somewhat through the second half of the year, reaching 64.1% for Q4. Analysts now estimate that American's progress in turning around its load factor will essentially halt. In Q1 FY 2021, they estimate that load factor will fall slightly, to 63.5%, on a sequential basis. That number also will be down sharply from 72.7% in the same quarter a year earlier.","news_type":1,"symbols_score_info":{"AAL":0.9}},"isVote":1,"tweetType":1,"viewCount":1998,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":64,"subscribersOnly":false,"subscribersOnlyAccessible":false,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/376958326"}
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