United trumpets Q3 figures

United Continental Holdings, Inc. (NASDAQ: UAL) rose Wednesday after reporting Q3 earnings.

Those earnings came in at $836 million, diluted earnings per share of $3.06, pre-tax earnings of $1.1 billion and pre-tax margin of 9.6%.

Tropical storms across the system are estimated to have reduced diluted earnings per share by approximately $0.07. Third-quarter diluted earnings per share increased 42% year-over-year. The company recaptured approximately 100% of its year-over-year fuel expense increase in the third quarter.

Said United CEO Oscar Munoz "Our stand-out third-quarter performance, which produced double-digit revenue growth as we more than offset the steep increase in fuel costs, is proof that United is building momentum.

"Our growth plan has been essential to our success, and we're more confident than ever we'll achieve the ambitious adjusted earnings per share target of $11 to $13 we laid out for 2020."

Consolidated passenger revenue per available seat mile (PRASM) increased 6.1% year-over-year, above the high end of the company's third-quarter 2018 guidance range of up 4-6%.

Consolidated unit cost per available seat mile (CASM) increased 6.4% year-over-year. Consolidated CASM, excluding special charges, third-party business expenses, fuel and profit sharing, decreased 0.4% year-over-year.

UAL's mid-continent hubs in Chicago, Denver and Houston had year-over-year capacity growth of 9.7% in the third quarter and led the system in unit revenue growth performance in the quarter.

Shares in UAL took flight $4.18, or 5%, to $87.70, in early Wednesday trading, within a 52-week range of $56.51 to $91.39.