American Airlines Group Inc. shares fell Wednesday after the carrier increased its profit outlook but not enough to meet Wall Street expectations.

According to the company, it expects adjusted earnings per share for the first quarter of 1 cent to 5, compared to a loss per-share of $2.32 last year. This is better than the previous guidance for a “approximately profitable” quarter. However, FactSet’s average EPS estimate was only 5 cents.

The…