United Continental Holdings (UAL) Shares Pop on Earnings Beat

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United Continental Holdings (NYSE:UAL) reported its latest quarterly earnings results after the bell Tuesday, posting an adjusted earnings beat that sent shares rising late in the day.

United Continental Holdings Inc (UAL)The Chicago-based parent company of United Airlines said that it second quarter of fiscal 2018 yielded earnings of $684 million, or $2.84 per share. On an adjusted basis, the airline brought in earnings of $3.23 per share, which proved to be 16 cents higher than the $3.07 per share that analysts surveyed by Zacks Investment Research were projecting.

United Continental Holdings also brought in revenue of $10.78 billion for the period, which was better than the $10.7 billion that four analysts surveyed by Zacks were calling for.

“We delivered great financial results and strong operational performance in the second quarter despite the significant headwind of higher fuel prices,” CEO Oscar Munoz said in a statement. “These results are the strongest evidence yet that our strategic growth plan is working, and we are well positioned to carry our momentum into the second half of the year,” he continued.”

For its third quarter of fiscal 2018, United Continental Holdings forecasts that it will bring in a unit revenue increase in the range of 4% to 10%, while its pretax margins will surge 8% to 10% in the period.

UAL stock was up about 0.5% during regular trading hours in anticipation of the company’s quarterly results, which sent shares up nearly 3.3% after the bell on the earnings beat.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/united-continental-holdings-ual-3/.

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