2023-04-19 16:26:57 ET
United Airlines ( NASDAQ: UAL ) shares rose 7.5% on Wednesday as a still-bullish forecast for the full-year overshadowed a somewhat mixed Q1 print.
The Chicago-based airline posted a lighter than expected loss for the quarter as revenue met consensus estimates. Underlying metrics, such as total passenger revenue at $10.27B, also came in-line with expectations.
While the Q1 results were not awe-inspiring CEO Scott Kirby indicated that full-year targets remain intact.
“Our industry-leading operational performance contributed to an all-time high operating cash flow in the first quarter and keeps us on track to achieve our cost targets for the full year,” CEO Scott Kirby commented on Tuesday evening. “We are watching the macroeconomic risks carefully, but demand remains strong, especially internationally, where we are growing at twice the domestic rate.”
The company expects Q2 adjusted diluted EPS to range from $3.50 to $4.00, suggesting upside to the $3.62 consensus. Meanwhile, full-year EPS in the ballpark of $10 to $12 is far better than the $8.68 analyst expectation.
Read the earnings call transcript .
For further details see:
Why did United Airlines stock fly higher on Wednesday? An upbeat earnings forecast