05:24 AM EDT, 05/29/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

American Airlines Group ( AAL ) shares traded 7.8% lower in premarket activity Wednesday after the company cut its Q2 earnings guidance.

Adjusted earnings per diluted share for the June quarter are now expected between $1 and $1.15, versus the company's prior forecast of $1.15 to $1.45, the company said late Wednesday.

Analysts polled by Capital IQ expect $1.30.

Price: 12.39, Change: -1.05, Percent Change: -7.81