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American Airlines (AAL) - Get American Airlines Group, Inc. Report  reported third-quarter profit that beat Wall Street expectations but lowered the top end of its full-year earnings guidance. 

The stock was down 1% in premarket trading to $28.

Revenue rose 3% to $11.9 billion, which the company said was a record. Net income of $425 million, or 96 cents a share, was up from $372 million, or 81 cents, a year ago. Adjusted earnings came in at $630 million, or $1.42 a share, vs. $547 million, or $1.19, a year ago.

Analysts were expecting EPS of $1.40 on revenue of $11.9 billion, according to FactSet.

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The company also said it expects cancellations from the grounding of the Boeing (BA) - Get Boeing Company Report 737 MAX aircraft to negatively impact its full-year 2019 pretax income by approximately $540 million.

American said it expects its fourth-quarter total revenue per available seat mile to be flat to up 2% year-over-year. Full-year EPS, excluding net special items, is expected to be between $4.50 and $5.50. In July, the company said it expected adjusted EPS to be between $4.50 and $6.

The consensus among analysts is for full-year EPS to come in at $4.99, according to FactSet.

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