United Airlines Holdings, Inc. UAL shares are trading lower on Wednesday. The stock has struggled over the past month in sympathy with other airline stocks.
What To Know: Over the past few weeks, several airline companies have reported earnings. However, the results overall have not been satisfactory.
JetBlue stock fell after issuing weak guidance. Southwest reported mixed second-quarter results and an increase in fuel costs.
Airline stocks, including United Airlines, have traded lower in sympathy after each report. However, at the end of July, United Airlines reported better-than-expected second-quarter results and issued strong full-year 2023 guidance.
The company reported quarterly earnings of $5.03 per share which beat the analyst consensus estimate of $4.03, a 251.75% increase over earnings of $1.43 per share from the same period last year. The company reported quarterly sales of $14.18 billion which beat the analyst consensus estimate of $13.91 billion, a 17.08% increase over sales of $12.11 billion the same period last year.
Furthermore, United estimated full-year 2023 earnings per share between $11 to $12, versus the $9.73 estimate.
More recently, Redburn Partners analyst James Goodall upgraded United Airlines Holdings from Neutral to Buy and announced a $80 price target on Monday.
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UAL Price Action: Shares of UAL were down 2.46% at $53.51 at the time of publication, according to Benzinga Pro.
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