United Continental (NYSE:UAL) announced today that it earned $339 million during the second quarter, down from $538 million during the same time last year.
However, the quarterly numbers included a $206 million one-time charge arising from the merger of United Airlines and Continental’s business operations.
Operating revenue for the quarter rose to $9.94 billion, up 1.3% from $9.8 billion in 2011. That disappointed analysts who were looking for $10.03 billion, Fox Business noted.
Adjusted EPS was $1.41, which fell considerably short of the $1.66 that Wall Street expected.
Shares of United Continental dropped almost 8% in Thursday afternoon trading.
Company officials noted that during the second quarter operating expense rose 4%, driven by a rise in fuel costs.
Other airlines posted second-quarter earnings that topped Wall Street estimates this week, including Delta (NYSE:DAL), U.S. Airways (NYSE:LCC) and JetBlue (NASDAQ:JBLU).
