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United Airlines Reports Q3 Revenue of $11.38B, Diluted EPS of $3.99 – Raises Full Year Guidance

Updated: Jan 11, 2020

At the close of markets today, United Airlines Holdings, Inc. (NASDAQ: UAL), reported quarterly revenue of $11.28B, a 3.4% increase vs. the same period last year. The company reports diluted earnings per share (EPS) of $3.99 and an adjusted diluted EPS of $4.07.

United B737 MAX 9 - Courtesy United Airlines

In a United Airlines Press Release this afternoon, the company reported a third quarter net income of $1.0B, pre-tax earnings of $1.3B, and a diluted EPS of $3.99. The pre-tax margin came in at 11.9%, a 2.3% margin improvement over Q3 2018. Passenger revenue per available seat mile (PRASM) increased 1.7% year-over-year and cost per available seat mile (CASM) decreased 0.9%. However, the report states that CASM (excluding special charges, third party business expenses, fuel and profit sharing) increased 2.1% vs. Q3, 2018. During the third quarter, United repurchased $363M worth of company shares at an average price of $88.22. The company also raised $1.2B in “Enhanced Equipment Trust Certificates” at a record low blended interest rate of 2.8%, to fund certain aircraft purchases. In the earnings announcement, United Airlines CEO Oscar Munoz stated,

“Thanks to the outstanding efforts of our employees, United extended our streak of expanding pre-tax margin on a quarterly basis. It provides us further confidence to raise our full year 2019 adjusted diluted EPS guidance, putting us ahead of the pace to achieve our goal of $11 to $13 in adjusted diluted EPS by the end of 2020. While headwinds affected the sector as a whole this quarter, United’s team once again demonstrated a robust ability to overcome adverse cost pressure, managing to continue growing our network while investing in winning our customers’ loyalty through smart enhancements to the United experience.”

In their third quarter report, United Airlines also raised their full year adjusted EPS guidance to a range from $11.25-$12.25. In after-hours trading (5:35P EST) shares in United Airlines Holdings, Inc. (NASDAQ: UAL) were trading 1.05% higher at $87.88.

Source: United Airlines



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