Following United Airlines (UAL stock) beating of third-quarter profits and sales expectations late Tuesday, shares of airline companies soared on Wednesday. The revelation comes on the heels of record revenue and optimistic projections from Delta Air Lines, which were released the previous week (DAL). The price of UAL stock rose significantly during the morning trade.
Later this week, similarly massive airline competitor American Airlines (AAL) is going to publish its profitability for the third quarter. Along with Delta’s price, American Airlines stock saw a significant increase of 3% after the market closed on Tuesday.
Thursday morning, before the market opens, the airline firm Alaska Air Group (ALK) will also announce its financial results . According to FactSet’s projections, earnings per share will increase by 62% to $2.39, while revenue will increase by 47% to $2.8 billion.
According to the most recent financial data, the aviation sector appears to be making a full recovery from the Covid epidemic. It appears that consumer demand for air travel is maintaining its level, and it appears that customers are particularly interested in traveling to overseas locations.
Airline Stocks: Earnings Report for United Airlines (UAL stock)
A loss of $1.02 per share a year ago is expected to turn into a profit of $2.28 per share, according to the estimates provided by analysts. It was anticipated that sales would rise by 65.0% to reach $12.7 billion.
Results showed that United Airlines had an EPS of $2.86 per share, which is an improvement from its loss of $1.02 per share in the third quarter of 2022. The revenue for the third quarter increased by 67% to $12.9 billion. In comparison to the previous qua...
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