United Airlines Holdings Inc UAL shares are trading higher Tuesday after the company reported fourth-quarter financial results. Here’s a look at the key metrics from the quarter.
What Happened: United Airlines reported fourth-quarter revenue of $13.6 billion, which beat estimates of $13.54 billion, according to Benzinga Pro. The company reported quarterly earnings of $2 per share, which beat estimates of $1.70 per share.
Capacity was up 14.7% on a year-over-year basis in the fourth quarter. TRASM was down 4.2% and CASM was down 0.1%. Average fuel price per gallon was $3.13 during the quarter.
“Despite unpredictable headwinds, we delivered on our ambitious EPS target that few thought possible – and set new operational records for our customers,” said Scott Kirby, CEO of United Airlines.
“Looking ahead, we expect these trends to continue and United is incredibly well positioned to capitalize on them and to deliver on our short and long-term financial targets.”
United anticipates a first-quarter adjusted earnings loss of 35 to 85 cents per share versus estimates for a loss of 21 cents per share. The company expects full-year 2024 earnings to be between $9 and $11 per share versus estimates of $9.58 per share.
Management is set to hold a conference call to discuss the company’s quarterly results Tuesday at 10:30 a.m. ET.
Related Link: United Airlines Vs. Southwest Airlines: Which Stock Offers More Upside?
UAL Price Action: United shares were up 6.68% at $41.02 at the time of publication, according to Benzinga Pro.
Photo: courtesy of United Airlines.
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