United Continental Holdings Earnings: Misses Expectations
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United Continental Holdings Inc Earnings Cheat Sheet
Results: Net income for United Continental Holdings Inc fell to $339 million (89 cents per share) vs. $538 million ($1.39 per share) a year earlier. This is a decline of 37% from the year-earlier quarter.
Revenue: Rose 1.3% to $9.94 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: United Continental Holdings Inc fell short of the mean analyst estimate of $1.70 per share. Analysts were expecting revenue of $10.04 billion.
Quoting Management: “I want to thank my co-workers for all they did to help us earn a profit this quarter,” said Jeff Smisek, UAL’s president and chief executive officer. “While we still have work to do, we are making the right investments in our future, and we look forward to delivering the benefits of those investments to our customers around the globe.”
Revenue has risen the past four quarters. Revenue increased 4.9% to $8.6 billion in the first quarter. The figure rose 5.9% in the fourth quarter of the last fiscal year from the year earlier and climbed 88.6% in the third quarter of the last fiscal year from the year-ago quarter.
After beating analyst estimates for the two previous quarters, the company fell short of forecasts. In the first quarter, it topped the mark by 24 cents, and in the fourth quarter of the last fiscal year, it was ahead by 16 cents.
Looking Forward: Next quarter’s results are expected to be more favorable for the company. Over the past sixty days, the average estimate for the third quarter has reached $2.72 per share, up from $2.32. For the fiscal year, the average estimate has moved up from $3.84 a share to $4.53 over the last sixty days.
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(Company fundamentals provided by Xignite Financials. Earnings estimates provided by Zacks)
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