The American holding company United Airlines Holdings Inc., the parent company of the air carrier United Airlines, in the second quarter of 2022 received a net profit for the first time since the start of the coronavirus pandemic. However, United’s adjusted earnings and revenue came in below market expectations.
In April-June, the company’s net income was $329 million, or $1 per share, compared with a net loss of $434 million, or $1.34 per share, for the same period last year.
Adjusted earnings per share were recorded at $1.43 versus an adjusted loss of $3.91 per share a year earlier.
Revenue increased to $12.11 billion from $5.47 billion a year earlier. The rate per passenger per mile jumped to a record 19.35 cents from 13.81 cents the previous year.
Analysts polled by FactSet had, on average, forecast the airline’s adjusted earnings of $1.85 per share on revenue of $12.12 billion.
„It’s nice to be profitable again, but we need to contend with three risks that could rise over the next 6 to 18 months,” said United chief Scott Kirby. recession”.
The airline fixed the average jet fuel price for the quarter at $4.18 a gallon, compared to $1.97 a gallon the previous year.
Shares of United Airlines fell 7.2% in additional trading on Wednesday after the publication of financial statements. The capitalization of the airline has decreased by 5% since the beginning of the year and amounts to $13.55 billion.