United Continental Holdings, Inc. (NYSE: UAL)
United Continental announced better-than-expected first-quarter results on Tuesday after the markets closed. Wall street was expecting earnings per share of $0.49 on a revenue of $9.013 billion, but the airline went above that estimate to hit earnings per share of $0.50 on a revenue of $9.032 billion.
Shares of the company had ended trading at $67.34 on Tuesday. However, they gained $1.89, or 2.81% in the extended session to trade at $69.23. The company is going to hold a conference call for its Q1 results on Wednesday (April 18).
UAL Earnings & Outlook
United’s operating revenue stood at $9.02 billion to finish above the consensus analyst estimate. Adjusted earnings per share also edged above the figure that Wall street had predicted.
The company forecast earnings per share of $7.00-$8.50 for full fiscal year 2018. It also sees an increase of 1% to 3% in unit revenue for the second quarter.
United also expects Q2 capacity to increase by between 4% and 5%. The company reported earnings per share of $0.5 and a revenue of $9.032B in the quarter.
United Continental CEO Comments
United Airlines Chief Executive Officer Oscar Munoz said that the remarkable operational performance the company’s workforce delivered during the quarter was extraordinary. “United achieved the best departure performance among our largest competitors despite four nor’easters and other weather disruptions. With our first-quarter financial results and our increased confidence in the outlook for the remainder of the year, we are tightening our adjusted EPS guidance range for the full year to $7.00 to $8.50. We continue to execute our strategy to strengthen and grow our domestic network, drive asset efficiency and productivity, while also continuing our focus on our customers,” Munoz said.
United Continental Holdings, Inc. Company Profile
United Continental Holdings, Inc. is the sole owner and operator of United Airlines. The company also offers satellite based WiFi, and transportation of cargo and people through its regional and mainline operations. The headquarters of United Continental Holdings is located in Chicago, Illinois. The company was founded in 1934.
Together with its subsidiaries, United offers air transportation services across North America, Europe, Asia-Pacific, Europe, Latin America, Africa, and the Middle East. It also offers ground handling, catering, aircraft maintenance services, and sale of fuel. As of December 2017, the carrier operated 1,262 aircrafts. The competitors of the company include Delta Air Lines, Southwest Airlines, American Airlines, Virgin America, Continental Airlines and JetBlue. –Reuters
