The Government shutdown impacted our revenue, American Airlines misses Q4 estimates

American Airlines Group Inc. (NASDAQ: AAL) reported fourth quarter adjusted earnings that fell well short of analyst expectations, while revenue came in slightly below consensus amid challenges from a government shutdown.

The airline posted adjusted earnings per share of $0.16 for the fourth quarter, missing analyst estimates of $0.38 by 58%. Revenue reached a record $14 billion, slightly below the consensus estimate of $14.04 billion. The company noted that the government shutdown negatively impacted fourth-quarter revenue by approximately $325 million. American’s stock edged down 0.6% following the results.

For the full year 2025, American Airlines reported record revenue of $54.6 billion and adjusted earnings of $0.36 per share. The carrier reduced its total debt by $2.1 billion during the year.

Looking ahead, the company provided fiscal year 2026 adjusted earnings guidance of $1.70 to $2.70 per share, with the midpoint of $2.20 slightly above the analyst consensus of $2.01. For the first quarter of 2026, American expects an adjusted loss between $0.10 and $0.50 per share, compared to analyst expectations of a $0.29 loss.