United Beats Second Quarter Earnings Estimates

United Continental Holdings Inc. (UAL) after the closing bell on Tuesday, July 17, reported adjusted second quarter earnings of $3.23 per share, beating analysts' estimates of $3.07 per share. 

The nation's largest commercial airline also reported revenue of almost $10.77 billion, narrowly beating the $10.72 billion in revenue expected by analysts surveyed by FactSet Research Systems Inc. 

In the same period in 2017, United reported earnings of $2.75 a share on revenue of $10 billion. 

United said its consolidated passenger revenue per available seat mile increased 3% year-over-year, while its consolidated total revenue per available seat mile increased 2.8% and its consolidated unit cost per available seat mile increased 7.1% in the same period. 

The company delivered "great financial results and strong operation performance" during the second quarter "despite the significant headwind of higher fuel prices," said chief executive Oscar Munoz, who has been under fire in the past 12 months for a series of incidents on United flights, including the forced removal of a passenger on a packed flight out of Chicago and the death of a dog on a flight from Houston to New York. 

United's stock rose more than 3% in after-hours trading Tuesday on the earnings report. The company will hold a conference call with analysts Wednesday, July 18, at 10:30 a.m. to discuss the results. United competitor JetBlue Airways Corp. (JBLU) will report earnings July 24, while peers American Airlines Group Inc. (AAL) and Southwest Airlines Co. (LUV) are expected to report July 26.

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