WASHINGTON (dpa-AFX) - (Adds Outlook)
United Airlines Holdings, Inc. (UAL) announced a profit for its second quarter that increased from last year and beat the Street estimates. The company also lifted its adjusted earnings outlook for the full year 2023.
The company's bottom line came in at $1.08 billion, or $3.24 per share. This compares with $329 million, or $1.00 per share, in last year's second quarter.
Excluding items, United Airlines Holdings, Inc. reported adjusted earnings of $1.67 billion or $5.03 per share for the period.
Analysts on average had expected the company to earn $4.03 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 17.1% to $14.18 billion from $12.11 billion last year.
For the full year, the company now expects adjusted earnings per share of $11 to $12, up versus the previous guidance of $10 to $12. Analysts currently estimate earnings of $9.73 per share.
United Airlines Holdings, Inc. earnings at a glance (GAAP) :
-Earnings (Q2): $1.08 Bln. vs. $329 Mln. last year. -EPS (Q2): $3.24 vs. $1.00 last year. -Analyst Estimate: $4.03 -Revenue (Q2): $14.18 Bln vs. $12.11 Bln last year.
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