American Airlines Group (AAL) Earnings: Q3 2026 Results and Next Report Date

The quarter ended September 30, 2026 and American Airlines published the results on October 22, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. American Airlines reports EPS two ways: GAAP, under the accounting rules every US filer follows, and excluding net special items, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Q3 2026 GAAP results include $112 million of pre-tax net special items, mainly a $78 million impairment of American's equity investment in Republic Airways Holdings Inc. and $14 million of mark-to-market losses on equity investments.
• Starting in 2026, Citibank N.A. became the exclusive issuer of the AAdvantage co-branded credit card portfolio in the U.S.

Source: American Airlines Q3 2026 results, October 22, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How American Airlines splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• American Airlines's Passenger revenue was $14.9 billion in Q3 2026, up 19% from $12.5 billion in Q3 2025, 91% of total revenue.
• American Airlines's Cargo revenue was $274 million in Q3 2026, up 29% from $212 million in Q3 2025, 2% of total revenue.
• American Airlines's Other revenue was $1.2 billion in Q3 2026, up 15% from $1.0 billion in Q3 2025, 7% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

American also guides an adjusted loss per diluted share of $0.50 to $1.10 for Q4 2026 and $1.00 to $1.60 for full-year 2026, excluding net special items.

In its Q3 2026 release, American Airlines said:

“In the fourth quarter, the company expects continued revenue strength, with year-over-year revenue growth between 19.5% and 22.5%.”

“Based on the forward fuel curve as of Oct. 19, American anticipates an average fuel price of approximately $4.70 per gallon, nearly double the price paid in the fourth quarter of 2025.”

“At that price, fuel expense is expected to increase approximately $2.8 billion versus the fourth quarter of 2025.”

“Given elevated fuel prices, American expects network growth in 2027 to slow from 2026 levels.”

Source: American Airlines Q3 2026 release, Oct 22, 2026.

This is the company's own guidance as of Oct 22, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AAL forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP total operating revenues and diluted EPS, each as first reported in that quarter's release.

American Airlines's next report is expected around January 26, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q3 2026 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Oct 22, 2026

American Airlines' total operating revenues were $16,335 million in Q3 2026, up 19.3% from $13,691 million and above the high end of its guidance range. Passenger revenue was $14,900 million (up 19.5%), cargo $274 million (up 29.1%) and other revenue $1,161 million (up 15.2%). American said 19.3% was its highest revenue growth outside the years following the pandemic. (American Airlines Q3 2026 release, Oct 22, 2026)

The 10-Q attributes the passenger increase to an 18.3% rise in yield, while capacity grew 4.2% and load factor fell 2.6 points to 83.4%. Domestic passenger revenue was $10,489 million, up 20.2%. International passenger revenue was $4,411 million: Atlantic $2,438 million (up 15.6%), Latin America $1,618 million (up 20.7%) and Pacific $355 million (up 18.5%). (American Airlines Form 10-Q, Q3 2026, Oct 22, 2026; American Airlines Q3 2026 release, Oct 22, 2026)

Premium revenue rose 22.9% and Main Cabin revenue 19.5%. American says premium products generate roughly half of its ticket revenue on approximately 30% of seats, and it expects premium seats on narrowbody aircraft to rise to 40% in the coming years. Managed corporate revenue rose 27.6%, its sixth consecutive quarter of double-digit growth. (American Airlines Q3 2026 release, Oct 22, 2026)

American Airlines' loyalty revenue from travel, mostly mileage redemptions, was $1,139 million within passenger revenue, and loyalty marketing services were $983 million within other revenue, up from $831 million. Cash payments from co-branded credit card and other partners were $1.7 billion in the quarter against $1.5 billion; Citi has been the exclusive U.S. issuer of the AAdvantage co-branded card since 2026, and card spend grew nearly 10%. (American Airlines Form 10-Q, Q3 2026, Oct 22, 2026; American Airlines Form 10-K, 2025, Feb 18, 2026; American Airlines Q3 2026 release, Oct 22, 2026)

American Airlines posted a GAAP net loss of $269 million, or $0.41 per diluted share, in Q3 2026, against a loss of $114 million, or $0.17, a year earlier. Excluding $112 million of pre-tax net special items ($87 million after tax), the adjusted net loss was $182 million, or $0.28 per share. The largest item was a $78 million impairment of its equity investment in Republic Airways Holdings Inc. (American Airlines Q3 2026 release, Oct 22, 2026; American Airlines Form 10-Q, Q3 2026, Oct 22, 2026)

American Airlines' aircraft fuel and related taxes rose $1.9 billion, or 67.5%, to $4,635 million, driven by a 62.7% rise in the average price per gallon to $3.85 from $2.37 and 3.0% more gallons consumed. American said its adjusted net loss was only $71 million below Q3 2025 despite that increase. Operating income fell to $115 million from $151 million. (American Airlines Q3 2026 release, Oct 22, 2026; American Airlines Form 10-Q, Q3 2026, Oct 22, 2026)

Diluted weighted average shares were 662,706 thousand against 660,358 thousand; because American had a loss, basic and diluted share counts are the same. Interest expense, net was $435 million, against $432 million a year earlier, and American ended the quarter with $11.8 billion of total available liquidity. (American Airlines Q3 2026 release, Oct 22, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

American Airlines gives a numeric outlook in its release. For Q4 2026 it expects revenue growth of 19.5% to 22.5% on capacity up 5.5% to 6.5%, CASM excluding net special items, fuel and profit sharing up 2.5% to 3.5%, and an adjusted loss per diluted share of $0.50 to $1.10. It assumes fuel of approximately $4.70 per gallon, which it says would raise fuel expense by approximately $2.8 billion against Q4 2025. (American Airlines Q3 2026 release, Oct 22, 2026)

For full-year 2026 American guides an adjusted loss per diluted share of $1.00 to $1.60. It does not reconcile the guidance to GAAP because it cannot determine net special items in advance, and it says network growth in 2027 will slow from 2026 levels because of elevated fuel prices. (American Airlines Q3 2026 release, Oct 22, 2026)

A consensus figure is the average of the models published by the analysts who cover American Airlines, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones American Airlines's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AAL is on is AAL a buy or a sell?, what analysts expect next is on the AAL forecast, and what the company does is on the American Airlines Group (AAL) stock page.

Every number on this page can be traced to a document American Airlines published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.