United Airlines Holdings Inc (NASDAQ:UAL) shares took flight Wednesday, after the carrier reported better-than-expected Q3 earnings and raised FY19 EPS guidance.
The Chicago-based United achieved third-quarter diluted earnings per share (EPS) of $3.99 and adjusted diluted EPS of $4.07, and raised its full-year 2019 adjusted diluted EPS guidance, with a new range of $11.25 to $12.25.
According to CEO Oscar Munoz, "Thanks to the outstanding efforts of our employees, United extended our streak of expanding pre-tax margin on a quarterly basis. It provides us further confidence to raise our full year 2019 adjusted diluted EPS guidance, putting us ahead of pace to achieve our goal of $11 to $13 in adjusted diluted EPS by the end of 2020."
UAL reported third-quarter net income of $1.0 billion, diluted earnings per share of $3.99, pre-tax earnings of $1.3 billion and pre-tax margin of 11.9%, expanding pre-tax margin 2.3 points versus the third quarter of 2018.
United also reported third-quarter adjusted net income of $1.0 billion, adjusted diluted EPS of $4.07, adjusted pre-tax earnings of $1.4 billion and adjusted pre-tax margin of 12.1%, expanding adjusted pre-tax margin 2.5 points versus the third quarter of 2018.
Other numbers; the company brought to light consolidated third-quarter passenger revenue per available seat mile increased 1.7% year-over-year. Consolidated third quarter unit cost per available seat mile (CASM) decreased 0.9% year-over-year.
Consolidated third quarter CASM, excluding special charges, third party business expenses, fuel and profit sharing, increased 2.1% year-over-year.
Shares increased altitude by $1.39, or 1.6%, to $89.27
