2023-07-20 12:24:32 ET
United Airlines ( NASDAQ: UAL ) broke higher on Thursday as investors continued to digest the airline company's Q2 earnings report.
During Q2, United saw one of its key metrics bounce back up sequentially, with passenger revenue per available seat mile up to $0.1768 from $0.1730 year ago and notably higher than the $0.1563 mark in Q1. Even more eye-opening, passenger revenue per available seat mile came in higher than the levels seen before the pandemic.
In the second quarter, United's ( UAL ) domestic margins returned to 2019 levels while international margins were well above those levels. The airline said it boosted international capacity by 27% in the quarter versus a year earlier. Flights to foreign destinations have been in high demand post-pandemic.
"United's ( UAL ) financial performance in the second quarter and our outlook for the remainder of the year and beyond make it clear that United Next is working and is the right strategy at the right time,” said airline CEO Scott Kirby. "Our focus now is on executing that strategy well — because we know it will deliver huge benefits for our customers, our employees and our owners."
Shares of UAL gained 3.79% in afternoon trading on Wednesday and swapped hands just below the 52-week high of $57.45.
Even after the recent rally for UAL, the Seeking Alpha Quant Rating is flashing Strong Buy. Seeking Alpha's Steven Cress has UAL slotted as the top airline pick based off the strong factor grades for valuation, profitability, and growth.
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For further details see:
Inside United Airlines: Key metric blazes strong in Q2