United Continental Holdings Inc (NYSE:UAL) reported on its latest period, beating expectations despite natural disasters hurting its business.
The hurricanes that struck the U.S. took a hit on the company’s earnings and revenue figures, but they were still stronger than expected for the period. The parent company of United Airlines earned $2.22 per share, which topped analysts’ expectations of $2.12 per share.
Revenue was also strong at $9.88 billion, ahead of the consensus estimate of $9.86 billion, according to Thomson Reuters. The figure was below the year-ago revenue of $9.91 per share, while earnings were much better last year at $3.11 per share.
Hurricane Harvey alone contributed to causing United Continental posting $400 million in losses as it hurt business to and from Houston, Texas, the fourth-largest city in the country. A total of at least 7,400 flights were canceled out of its hub at the George Bush Intercontinental Airport.
The storm caused the company to reduce its third-quarter revenue outlook to a 3.5% to 4% slip. The company has also been in the midst of controversy as a passenger is suing United Airlines after a drunk passenger reportedly urinated on him.
It is unclear how much Daniel Card is asking from the company, but he is accusing the airline of assault, negligence, breach of contract and emotional distress.
UAL stock shares surged 0.7% during regular trading hours Wednesday, rose an additional 0.6% after the bell.