United Continental fourth-quarter profit tops Wall Street estimates

FAN Editor

United Continental Holdings, the parent of United Airlines, posted earnings Tuesday that outpaced analyst estimates.

For the fourth quarter, the company said it earned $1.40 per share, on an adjusted basis. Wall Street analysts polled by Thomson Reuters were expecting earnings of $1.34 per share.

The airline had struggled to increase the amount of revenue it brings in for each seat it flies a mile, a key industry metric, but this rose 0.2 percent in the fourth quarter from a year-earlier period, slightly beating a previous forecast of flat per-seat revenue.

United said its fourth-quarter revenue totaled $9.44 billion, up 4.3 percent on the year, and higher than Wall Street forecasts of $9.42 billion.

The airline reported net income of $580 million in the quarter, up 46 percent on the year.

United is scheduled to hold an investor day presentation along with the announcement of its full year results.

The event gives CEO Oscar Munoz another chance to impress investors, who dumped shares of the airline after executives on a tense earnings call last quarter gave a fuzzy picture of its costs in 2018.

United’s sunnier revenue forecast earlier this encouraged investors to change their tune. United shares are up more than 15 percent this year, more than U.S. rivals, Delta and American. United shares fell

United will likely address rising fuel and other costs, as well as its plan to roll out premium economy class and the performance of its no-frills basic economy and the slow installation of seats in its new business class, Polaris.

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