2024-04-16 16:16:51 ET
United Airlines Holdings Inc (NASDAQ: UAL) is trending up in extended hours on Tuesday after reporting better-than-expected financial results for its first quarter.
United Airlines stock pops on upbeat guidance
Shares of the air carrier are in the green in after-hours also because its management issued upbeat guidance for the future. reiterated that its adjusted per-share earnings will fall between $9 and $11 in fiscal 2024.
Analysts, in comparison, were at $9.43 a share. Scott Kirby – the chief executive of United Airlines said in a press release today:
We’ve adjusted our fleet plan. We’ll use those planes to capitalise on opportunity only United has: profitably grow our mid-continent hubs and expand our highly profitable international network from our best in industry coastal hubs.
The Nasdaq-listed firm improved capacity by 9.1% in its first financial quarter. United Airlines stock is now up more than 15% versus its year-to-date low.
United Airlines Q1 earnings snapshot
Lost $124 million versus the year-ago $194 million
Per-share loss also narrowed from 59 cents to 38 cents
Adjusted loss printed at 15 cents as per the earnings report
Revenue jumped 10% year-over-year to $12.53 billion
Consensus was 57 cents a share on $12.45 billion revenue
United Airlines ended Q1 with $16.9 billion in available liquidity. CEO Kirby also said on Tuesday:
I want to thank the United team for working so hard this quarter to deliver strong operational metrics for our customers and sharpen our focus on safety, while producing excellent financial results for our shareholders.
Wall Street currently has a consensus “overweight” rating on .
The post United Airlines to 'capitalise on opportunity only has' after Q1 earnings appeared first on Invezz