United Airlines achieves highest Q2 pre-tax income in company history

United Airlines achieves highest Q2 pre-tax income in company history

eTurboNews Syndication:

United Airlines (UAL) today announced that the continued successful implementation of its strategy resulted in the business delivering two straight quarters of solid pre-tax margin growth – three quarters on an adjusted basis1 – and the best second-quarter pre-tax income in the airline’s history.

“Because of the outstanding and sustained efforts of 95,000 United associates, United is currently consistently delivering results for the customers along with investors once we improve the mid-point of our full-year 2019 adjusted diluted EPS3 guidance with a fresh selection of $10.50 to $12.00,” said Oscar Munoz, CEO of United Airlines. “By again delivering strong EPS during the last 90 days once, top-tier email address details are the expectation now, not the exception for United.”

• Reported second-quarter net gain of $1.1 billion, diluted earnings per share (EPS) of $4.02, pre-tax earnings of $1.4 billion and pre-tax margin of 11.9 percent, expanding pre-tax margin 4.0 points versus the next quarter of 2018.

• Reported second-quarter adjusted net gain of $1.1 billion, adjusted diluted EPS of $4.21, adjusted pre-tax earnings of $1.4 billion and adjusted pre-tax margin of 12.4 percent, expanding adjusted pre-tax margin 2.0 points versus the next quarter of 2018.

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• Total passenger revenue increased 6.1 percent versus the next quarter of 2018.

• Consolidated second-quarter passenger revenue per available seat mile (PRASM) increased 2.5 percent year-over-year.

• Consolidated second-quarter unit cost per available seat mile (CASM) decreased 0.4 percent year-over-year.

• Consolidated second-quarter CASM, excluding special charges, third-party business expenses, profit and fuel sharing, increased 0.6 percent year-over-year.

• Repurchased $536 million of its common shares in the next quarter of 2019, at the average price of $84.07 per share.

• July 15 on, 2019, the company’s Board of Directors authorized a fresh $3 billion share repurchase program.

Author: George Taylor

Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.